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Katoro Gold said it would announce detailed plans for the development of its Haneti project in Tanzania over the coming weeks.
The project was about 5,000 square kilometers in size and represented 'a very interesting' exploration opportunity, executive chairman Louis Coetzee said.
Katoro had identified precious, base and strategic metal prospectivity at the project, which it considered capable of delivering a number of discrete large-scale exploration and development opportunities.
'I look forward to articulating our project strategies and operational plans in the coming weeks,' Coetzee said.
The principle target zone was an 80 ki,ometre long ultramafic belt with grades from surface sampling of up to 13.6% nickel and 2.33 grams per tonee of combined platinum and palladium.
At 1:17pm: (LON:KAT) Katoro Gold Mining Plc share price was 0p at 1.1p