Katoro Gold recorded significant progress across its project portfolio during the six months ended June 30 despite the challenges brought about by the COVID-19 pandemic.
The AIM-listed company said it completed a maiden rotary air blast (RAB) drill programme targeting the discovery of nickel and platinum-group metals (PGMs) at the Haneti joint venture (JV) project, in Tanzania.
Haneti is a large-scale polymetallic project covering a vast prospective area in central Tanzania, where the principal target zone is an 80-km-long ultra-mafic belt with grades from a surface sampling of up to 13.6% nickel and 2.33 g/t combined PGMs.
Katoro completed a 50-hole, maiden RAB drill programme at Mihanza Hill and Mwaka Hill and collected 1 965 samples.
Katoro said it is also currently in the process of compiling a comprehensive funding package following the Blyvoor joint venture in South Africa that will allow the construction, commissioning and operation of a mining and processing facility capable of processing 500,000 tonnes of tailings material per month.
“A period of limited political unrest in South Africa temporarily delayed the funding process when some of the short-listed parties requested additional time to re-assess the country risk profile as a result of the unrest,” said the company.
“However, [we are] pleased to announce that discussions with these potential funders have since resumed and the joint venture partners hope to conclude a final funding arrangement for Blyvoor during the latter part of 2021.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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