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Kibo completes Tanzania drilling programme ahead of schedule

Kibo completes Tanzania drilling programme ahead of schedule

Photo by reuters

4th December 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Aim-listed Kibo Mining has completed Phase 1 of a two-phase drill programme at the Imweru tenement, in the Lake Victoria region of Tanzania, 15 days ahead of schedule and within budget.

The first samples from the programme, which started on October 14, were delivered to the laboratory on November 11, with initial results expected in the first week of December and final laboratory results for the entire Phase 1 drilling programme expected by the end of the month.

CEO Louis Coetzee said on Wednesday that the Phase 1 drilling programme had produced geology consistent with the gold mineralisation obtained from previous work in the target area, demonstrating significant potential for further delineation of mineralisation along strike and at depth, beyond the current resource estimate.

“Phase 1 has provided Kibo with a solid platform for implementation of Phase 2 to ensure the best possible chance of further exploration success at Imweru,” he said in a statement.

The Imweru play is located 35 km west and along strike of AngloGold Ashanti's Geita deposits, which have an estimated premining gold endowment of 23-million ounces at 4 g/t.

Edited by Tracy Klückow
Creamer Media Contributing Editor

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