Katoro Gold PLC Imweru project update (9001U)
October 30 2017 - 3:00AM
UK Regulatory
TIDMKAT
RNS Number : 9001U
Katoro Gold PLC
30 October 2017
Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
30 October 2017
Successful Completion of Phase 2 of the Imweru Environmental and
Social Impact Assessment ("ESIA")
Katoro Gold plc ("Katoro" or the "Company") (AIM: KAT), the
Tanzania focused gold exploration and development company, is
pleased to announce the completion of Phase 2 of the ESIA of the
Imweru project. The National Environmental Management Council
("NEMC") have acknowledged receipt of the Scoping Report and Terms
of Reference for the execution of the final phase (Phase 3), being
the detailed Environmental Impact Assessment. Receipt of the
Scoping Report and Terms of Reference confirms successful
completion of Phase 2 of the ESIA and permission from NEMC to
continue with Phase 3 is expected to be received shortly, as
required by the Tanzanian Environmental Management Act.
Louis Coetzee, Executive Chairman of Katoro commented: "We are
very pleased with the sustained momentum and progress on the Imweru
ESIA. Completion of Phase 2 of the ESIA represents a considerable
amount of fieldwork and specialist studies, which was completed
ahead of schedule. The ESIA is a key activity which runs in
parallel with the Project Development process and drives a
considerable number of approvals required during the Project
Development process.
Good progress is also being made on the completion of the
resource restatement and completion of the Pre-Feasibility Study
and we will keep shareholders updated in this regard."
Contacts
Louis Coetzee +27 (0) 83 Katoro Gold plc Executive
2606126 Chairman
-------------- ----------- -------------------- ----------
Jon Belliss +44 (0) 20 Beaufort Securities Broker
7382 8300 Limited
-------------- ----------- -------------------- ----------
Richard +44 (0) 20 Strand Hanson Nominated
Tulloch 7409 3494 Limited Adviser
Ritchie
Balmer
Frederick
Twist
-------------- ----------- -------------------- ----------
Katoro Gold - 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 announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
STRGCBDGXGDBGRC
(END) Dow Jones Newswires
October 30, 2017 03:00 ET (07:00 GMT)
Katoro Gold (LSE:KAT)
Historical Stock Chart
From Apr 2024 to May 2024
Katoro Gold (LSE:KAT)
Historical Stock Chart
From May 2023 to May 2024
