Katoro Gold PLC Project Update (1899H)
09 March 2018 - 6:00PM
UK Regulatory
TIDMKAT
RNS Number : 1899H
Katoro Gold PLC
09 March 2018
Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
Dated: 9 March 2018
Katoro Gold Plc ('Katoro' or the 'Company')
Project Update
Katoro Gold Plc (AIM:KAT), the Tanzania focused gold exploration
and development company, is pleased to provide an update with
regards to its Imweru gold project in Tanzania.
The Company remains focused on finalising the first phase of
feasibility work at its Imweru gold project in Tanzania. Having
undertaken an expanded drilling programme and various studies and
surveys in 2017, the Company is seeking to shortly finalise a
resource update and Pre-Feasibility Study ('PFS'). The Company has
completed all the technical aspects of the PFS and is now assessing
the economic feasibility of the project, with specific attention to
the potential impact of the new mining legislation, announced in
July 2017, together with the recently released mining
regulations.
Louis Coetzee, Executive Chairman of Katoro commented: "Changes
in the Tanzania mining legislation and associated mining
regulations, recently released, has compelled the Company to
conduct further assessments to determine the extent to which the
new legislation and regulations may impact the viability of the
Imweru gold project. Work in this regard is nearing completion and
a further update will follow shortly."
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014.
For further information please visit www.katorogold.com or
contact:
Louis Coetzee louisc@katorogold.com Katoro Gold Executive Chairman
plc
Richard +44 (0) 20 Strand Hanson Nominated Adviser
Tulloch 7409 3494 Limited
Ritchie
Balmer
Frederick
Twist
Ben Tadd +44 (0) 203 SVS Securities Broker
Tom Curran 7000 093
Isabel de +44 (0) 207 St Brides Investor and
Salis 236 1177 Partners Ltd Media Relations
Priit Piip Adviser
Notes to editors:
In May 2017 Katoro was admitted to trading on AIM. Katoro owns
100% of the Imweru and Lubando Gold Projects in Tanzania, which
both have Mineral Resources established in accordance with the JORC
(2012) Code. The total Mineral Resources stated for Imweru consist
of 11.607 Mt at grade of 1.38 g/t for a Mineral Resource of 515,110
oz Au at a resource pay limit of 0.4 g/t for the open pittable
material and 1.3 g/t for the underground material, while the
Lubando Mineral Resources equate to 6.78 Mt at grade of 1.10 g/t
for 239,870 oz Au at a pay limit of 0.4 g/t to a depth of 200 m and
1.3 g/t below the 200 m depth cut-off. The respective projects also
include the earlier stage Sheba (within the Imweru Licence
Portfolio and Imweru Option Portfolio), Pamba and Busolwa (both
within the Lubando Licence Portfolio and Lubando Option Portfolio)
projects. The JORC Code compliant Competent Person's Report for
each of Imweru and Lubando are available on Katoro's website
www.katorogold.com.
The Company's primary focus is on advancing and developing
Imweru through a work programme which will include, inter alia, a
feasibility study and a drilling programme, with the aim, subject
to funding, to commence production with an initial target of 50,000
oz gold per annum within 18-24 months from admission to AIM.
Updates on the Katoro's activities will be announced as required
and posted on its website www.katorogold.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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