Katoro is positioned to develop its assets with the aim of taking a decision to mine at Imweru.
Katoro Gold PLC is the developer of the Imweru and Lubando gold projects in Tanzania and was admitted to trading on the AIM Market of the London Stock Exchange in May 2017.
Katoro's primary focus will be on advancing and developing Imweru through a focussed work programme which will include a feasibility study and a drilling programme. Katoro's aim is to commence gold production with an initial target of 50,000 oz gold per annum within 18-24 months, subject to further funding, following the AIM admission.
The Imweru and Lubando Gold Projects both have Mineral Resources established in accordance with the JORC (2012) Code:
- Imweru: total Mineral Resources stated 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.
- Lubando: total Mineral Resources equating to 6.78 Mt at grade of 1.10 g/t for 239,870 oz Au at a pay limit of of 0.4 g/t to a depth of 200 m and 1.3 g/t below the 200 m depth cut-off.
In addition to the Imweru and Lubando gold projects, Katoro has the potential to progress other projects, including the earlier stage Sheba, Pamba and Busolwa projects via option agreements with Kibo. Whilst these projects are not critical to the development of a mine at Imweru, the Directors believe they provide potential exploration upside as part of the longer-term strategy of Katoro Gold.