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Katoro shines as it discovers previously unknown exploration target at Haneti Nickel project

The AIM-listed firm said the 1,500 samples analysed as part of the programme had also increased the strike length of other high priority areas

Nickel element
The sampling data will be used to help define a maiden drilling programme at the site

Katoro Gold PLC (LON:KAT) shares sparkled on Monday after soil sampling discovered a previously unknown exploration target at its Haneti Nickel project in Tanzania.

The AIM-listed firm said the 1,500 samples analysed as part of the programme had also increased the strike length of other previously identified high priority areas.

READ: Katoro Gold sees African Battery Metals tie-up as perfect fit for Haneti project

"The results from the comprehensive soil sampling programme undertaken at Haneti have served to further increase our confidence in the prospectivity of the Project”, said Louis Coetzee, Katoro’s executive chairman.

The company will now use the sampling data to inform an exploration plan at the project through 2019 as well as for defining a maiden drilling programme at the site.

In early afternoon trading, Katoro’s shares were 31% higher at 1p.

Quick facts: Katoro Gold

Price: 1.05 GBX

AIM:KAT
Market: AIM
Market Cap: £1.89 m
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