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Technical Report Confirms Haneti Nickel, PGM and Lithium Target Potential
Kibo Mining Plc
(Incorporated in Ireland)
Registration Number: 451931
(External registration number: 2011/007371/10)
Share code on the JSE: KBO
Share code on the AIM: KIBO
ISIN: IE00B61XQX41
(“Kibo” or the “Company”)
March 17, 2014
Technical Report Confirms Haneti Nickel, PGM and Lithium Target Potential
Kibo Mining plc (“Kibo” or the “Company”) the Tanzania focussed mineral exploration and development
company is pleased to announce it has identified a 30km strike of nickel-platinum prospectivity at Haneti
following receipt of a comprehensive technical report covering full historical exploration and technical data
from the Haneti project. The technical report, prepared by Mzuri Exploration Services (“MXS”)(“The
Report”),the Company’s exploration service provider in Tanzania, includes the full data and conclusions
drawn from the 2013 exploration programme and provides a detailed assessment and recommendations for
steps to be taken to confirm the nature and extent of mineralisation identified on the company’s 100% owned
Haneti project.
Highlights:
• 30km strike of nickel-Platinum Group Metal (“PGM”) prospectivity identified at Haneti
• High priority nickel and PGM targets at Mwaka and Mihanza Hill confirmed
• Potential of project to host lithium pegmatite mineralisation (lithium and associated elements such as
niobium and tantalum) to be further investigated
• Based on this technical report the company is now able to focus future activities on key tenements highly
prospective for target mineralisation
T h e Report contains the following key data and recommendations:
• Multi-element results from legacy and recent soil and rock geochemical surveys over the central 30 km
strike of the Nickel-PGM prospective Haneti Itiso Ultramafic Complex (“HIUC”) have been integrated
to produce geochemical plots that point towards areas for follow up trenching/pitting, ground
geophysics and drilling
• Two target areas at Mwaka and Mihanza hills are recommended for initial drilling during 2014 based
on a combination of anomalous soil and rock geochemistry, ground geophysics and favourable geology
• Advanced statistical analyses and interpretation of the multi-element geochemical database by an
independent expert on the geochemistry of weathered nickel sulphide bearing ultramafic terranes are
being undertaken to guide future field activities on the project
• Detailed aerial aeromagnetic, radiometric and gravity data from a recently flown Government survey
in the region and covering Haneti, when made available later this year, will supplement the Company’s
existing information database and technical understanding of the project
• A rationalisation and consolidation plan for the project tenements is being formulated in order to focus
resources on the key gold prospective (Londoni-Hombolo-Mosangani ) and the nickel-PGM
prospective (HIUC ) trends based on the results of the 2013 regional mapping programme
• A desktop study is recommended to assess the potential of the project to host economic lithium
pegmatite mineralisation (lithium and associated elements such as niobium and tantalum) based on
initial anomalous rock grab sampling results from lithium pegmatites identified on the project
Louis Coetzee, C.E.O. of Kibo Mining, commented:
“The report released today demonstrates the strategic importance of Haneti and its potential to deliver
considerable opportunity to the company going forward making the project one of the Company’s key assets.
Results from the 2013 exploration programme at Haneti, when integrated with prior historical work undertaken,
demonstrate the high degree of prospectivity evident on the ground. Haneti provides Kibo with exposure to
highly attractive nickel, gold and Platinum Group Metal targets; and now, potential strategic metal
opportunities with lithium and niobium prospectivity.
We are thankful for Votorantim Metals joint venture funding of the 2013 Haneti programme which was
completed at no cost to Kibo shareholders. The prospectivity confirmed in the report is exciting for the
Company and shareholders, and we intend to move forward with the key steps outlined above in a disciplined
manner to unlock the potential value for shareholders.
Kibo Mining - Notes to editors
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The Company is
focused on exploration and development of mineral projects in Tanzania, and controls one of Tanzania’s
largest mineral right portfolios. Tanzania provides a secure and stable operating environment for the mineral
resource industry and Kibo Mining therein.
Kibo Mining holds a thermal coal deposit at Rukwa, which has a significant JORC compliant defined
resource, and is developing a 250-350MW mouth-of-mine thermal power station with an established
management team that includes Standard Bank as Financial Advisor.
Kibo also holds the Haneti Licence on which the latest technical report confirms prospectivity for nickel,
PGMs, gold and strategic metals.
The Company also has extensive gold focused interests including Lake Victoria Goldfields and Morogoro
projects. At Lake Victoria, the Company has projects with a substantial existing JORC compliant gold
resource and is seeking to materially increase this resource through exploration of known extensions to
existing mineralisation.
Kibo Mining also holds the Pinewood (coal & uranium) projects.
The Company’s projects are located in the established and gold prolific Lake Victoria Goldfields, the
emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern Tanzania where
the Government has prioritised infrastructural development attracting significant recent investment in coal
and uranium. The Company has a positive working relationship with the Tanzanian government at local,
regional and national levels and works hard to maintain positive relationships with all communities where
company interests are held. The Company recognises the potential to enhance the quality of life and
opportunity for Tanzanian citizens through careful development of its projects.
Updates on the Company’s activities are regularly posted on its website www.kibomining.com
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 Hume Capital Broker
Stuart Laing +61 8 94802500 RFC Ambrian Nominated Adviser on AIM
Limited
Daniel Thöle +44 (0) 207 8611606 Bell Pottinger Investor and Media Relations
Lydia Eades +44 (0) 207 8613126
Review by Qualified Person
The information in this RNS has been reviewed by Noel O’Keeffe, P.Geo, who is a Member of the Institute
of Geologists of Ireland. Noel O’Keeffe is Exploration Director of Kibo. Noel O’Keeffe has more than five
years relevant experience in the styles of mineralisation and types of deposit under consideration.
Johannesburg
17 March 2014
Corporate and Designated Adviser
River Group
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