Aim-listed Katoro Gold and Power Metal Resources have begun mobilisation for the diamond drill programme at their joint venture (JV) Haneti nickel project, in Tanzania.

Katoro holds a 65% ownership interest in the project, with the balance held by Power Metal. 

Following the results received from the rotary air blast (RAB) drill programme that was completed in early 2021, it is expected that mobilisation will be completed on or around January 17.

Drilling on the 1 000 m programme is to start on or around January 20.

The planned drill programme consists of three deep diamond core targeting magmatic nickel/copper/platinum group element (PGE) sulphide mineralisation. The work will constitute the first diamond drilling conducted by the JV partners within the Haneti project area.

The planned drillholes are designed to provide a full intersection through the various ultramafic sequences to produce fresh rock samples for detailed geochemical and petrographic analysis.

Two diamond core holes are planned at the Mwaka target for a combined 505 m. The holes have current planned depths of 264 m and 241 m and are designed to test two discrete high-priority conductors which were identified during the 2012 electromagnetic geophysics survey.

A single 495-m-deep diamond core drill hole is planned at the Mihanza target. The Mihanza target was subject to a shallow RAB drill programme that was completed in early 2021. The programme confirmed the presence of near-surface nickel/copper/PGE sulphide mineralisation.

The Mihanza target is centred around coincident magnetic high geophysical and nickel geochemical anomalies.

Detailed modelling and inversion analysis of the airborne magnetic data completed in 2014 identified a large plug-shaped magnetic anomaly (interpreted to represent an ultramafic body) which lies at roughly 300 m below surface. This plug-shaped body has never been drill tested, and the drill hole planned at Mihanza is specifically designed to intersect the anomaly at depth.

"We are very pleased to be starting off the new year on a good note for the Haneti project. Commencing with the next phase of the diamond drill programme marks a milestone in our exploration strategy. Subject to the results from the diamond programme, we look forward to unlocking even more positive developments.

"In the process of planning and preparing for the abovementioned drill programme, the company also successfully renewed all the prospecting licences that cover the Haneti project area. This means the Haneti project now has another seven years active life. This will also give us an opportunity for further exploration/development of the Haneti project area,” comments Katoro executive chairperson Louis Coetzee.

"The Haneti project, targeting magmatic sulphide hosted nickel, copper and platinum group metals, represents a unique district-scale opportunity for Power Metal and our JV partner Katoro.

“The preparatory work leading up to this campaign has been extensive, though ultimately, it is deep diamond drilling that is now needed to broaden our understanding of the geological environments and to unlock the potential for a commercial discovery,” says Power Metal CEO Paul Johnson.