Wrap Text
Haneti Project Interim Update
Kibo Mining Plc
(Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B61XQX41
(“Kibo” or “the Company”)
Dated: 31 July 2013
Haneti Project Interim Update
• Planned soil sampling programme 86% complete.
• New soil sampling targets identified and developed.
• New ultramafic outcrops identified.
Kibo Mining PLC (“Kibo” or the “Company”) (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral
exploration and development company, is pleased to provide an interim operational update of its Tanzanian
Haneti Joint Venture Project, which is being funded by its joint venture partner, Votorantim.
During the period since the last RNS, and ending July 25, 2013, work on the Haneti Exploration Programme
progressed extremely well. The current mapping and soil sampling work is focused on metamorphosed
ultramafic rocks which are targets for nickel, gold and platinum group metal element (“PGE”)
mineralisation. Prior sampling identified anomalous nickel and gold grades and the current sampling
programme is intended to provide more detailed surface geochemical data ahead of the prioritisation of
locations for initial drilling. The progress thus far can be summarised as follows:
The planned soil sampling programme is 86% complete, with just a total of 332 samples left to be
collected
• Soil sampling programme at Mwaka Hill : Completed ( 844 samples)
• Soil sampling programme at Mihanza : Completed (359 samples)
• The soil sampling programme at Kwahemu – Sanato – Yobo is making good progress with a total of
992 samples collected for the period.
Two new ultramafic outcrops were identified, between Mwaka and Kwahemu confirming strike
continuation of the ultramafic rocks between these two targets.
The despatch of samples in batches to the laboratory continues.
Mapping
• Detailed mapping on Mwaka on 200 meter line interspaces was completed.
• Detailed mapping of the following areas is in progress :
Mihanza.
Kwahemu – Sanato – Yobo.
Newly identified ultramafic outcrops.
The regional reconnaissance and mapping programme is well under way with mapping in progress on all
known and identified ultramafic occurrences on the tenement portfolio.
On-going regional assessment of the current tenement portfolio with the aim to ensure that optimal
ground is retained, and the most obvious unusable ground to be surrendered to the Ministry of Energy
and Mining.
Planned work for the coming weeks:
The soil sampling programme at Kwahema – Sanato – Yoba to be completed.
Detailed mapping of the Mindii – Kwahemu trend.
Continuation of regional mapping of exploration and strategic targets.
Further consignments of samples to be despatched to the analysis laboratory in Mwanza.
Prepare for sampling of the newly identified ultramafic bodies by the reconnaissance and planning of
soil lines.
The CEO, Kibo Mining PLC remarked: …”We are particularly pleased with the rapid progress that the field
team has made over the last two weeks, and we are close to the successful conclusion of this exploration
stage at Haneti. We are dispatching a steady stream of samples to the laboratory, and are eagerly awaiting
the first results from the end of August onwards.”
Contacts
Louis Coetzee +27 (0)83 2606126 Kibo Mining plc Chief Executive Officer
Andreas Lianos +27 (0)83 4408365 River Group Corporate Adviser and
Designated Adviser on JSE
Jon Belliss +44 (0) 20 3216 2630 XCAP Broker
Stuart Laing +61 8 94802500 RFC Ambrian Nominated Adviser on AIM
Limited
Matt Beale +44 (0)7966 389196 Fortbridge Investor Relations
Updates on the Company’s activities are regularly posted on its website www.kibomining.com
General Background & Strategy
Kibo was established in early 2008 to explore and develop mineral deposits in Tanzania, East Africa and
was admitted to AIM in London on 27 April 2010 and AltX in Johannesburg on 30 May 2011. The Board
of Kibo is composed of professionals whose experience include mineral exploration, mine development,
mining finance, tax, law, mergers and acquisitions, and financial control of public companies. It is supported
by competent and motivated a Tanzanian staff that operates from Kibo's operations office in Dar es Salaam.
The mineral assets of the Company comprise five projects areas in Tanzania - Haneti (nickel, PGE and
gold), Morogoro (Gold), Lake Victoria (Gold), Rukwa (Coal) and Pinewood (Coal & Uranium).
The Haneti project is the subject of a joint venture with Brazilian Votorantim Metais Participações Ltda, a
member of Votorantim Group. The Rukwa and Pinewood projects are situated close to the Mtwara Corridor,
an area where the Tanzanian Government has committed to significant infrastructure development and
which has seen recent multi-million dollar investment in coal and coal-fired power stations and uranium
exploration.
The Rukwa project is substantially more advanced than Kibo’s existing exploration projects, with a
significant Mineral Resource of thermal coal already defined. The project enjoys strong support expressed
by the Tanzanian Government for the expedited development of a coal mine and mine-mouth coal-fired
power plant and which is further enhanced by the now formal relationship between the Korean Government
owned Korean East – West Power Co. Ltd. (“EWP”) and Kibo. In this relationship the parties have entered
into a formal MOU which states the parties’ respective commitments towards the joint development of the
Rukwa Coal to Power Project (“RCPP”), where EWP will be responsible for developing and operating the
power generation side of the RCPP and Kibo will be responsible for developing and operating the mining
side of the RCPP.
Kibo's objective is to build shareholder value in a sustainable manner. This objective will be pursued
primarily through active exploration of its own projects and by using the Company's experience in Tanzania
to acquire attractive exploration and development assets on competitive terms that can be moved swiftly up
the value curve by using the Company’s own skills base whilst also seeking to benefit from strategic
collaborative relationships with industry leaders who have special skills and competencies within their
chosen fields of focus. Kibo will undertake continual risk assessment of its projects and take whatever
actions it believes are necessary to ensure that these risks are mitigated.
Johannesburg
31 July 2013
Corporate and Designated Adviser
River Group
Date: 31/07/2013 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
