Mining Weekly reported that Kibo Mining plc (LSE:KIBO) plans to start a more focused drill program at its Haneti nickel project.
Mining Weekly reported that Kibo Mining plc (LSE:KIBO) plans to start a more focused drill program at its Haneti nickel project. The company is basing that decision on results from independent airborne geophysical data interpretation.
Louis Coetzee, CEO of Kibo, commented:
This work enabled the prospectivity of the Haneti project for nickel sulphide mineralisation to be enhanced significantly, at minimum cost, and provides a more detailed picture of the subsurface extent and geological structure.
As quoted in the market news:
The dual-listed miner added that the final report confirmed the location, strike extent and internal structure of two newly interpreted composite mafic-ultramafic zones, significantly extending the previously known “footprint” of the Haneti-Itiso Ultramafic Complex (HIUC), with strike lengths of about 30 km in the southwest zone and 10 km to 20 km in the northwest zone.
Modelling of the high magnetic anomaly over the Mihanza drill prospect also showed that the magnetic susceptibility increased with depth and the prospective rocks extended to 800 m, indicating the potential for a significant volume of nickel prospective target rock at this location alone.