Haneti (Nickel & Gold)
Key Facts
Nickel, Platinum-Group-Elements and Gold
Dodoma Region, Tanzania
34 licences and licence applications covering an area of 6,753 square kilometres
100%
Haneti-Itiso Ultramafic Complex & The Londoni Greenstone Belt
None defined yet

• Development of drill targets along the Haneti-Itiso Ultramafic Complex by geological mapping, soil geochemical surveys and geophysical surveys.

• Reconnaissance investigation of the gold potential in the mid and western part of the Haneti (search for extensions of the Londoni Greenstone Belt)

• Drilling of initial targets at Mwaka and Mihanza Hills

• Follow up investigation of lithium mineralisation potential


Location
Haneti comprises 34 mineral rights prospective for nickel, platinum-group-elements and gold. It covers an area of 6,753 square kilometres in central Tanzania. The project area straddles the Dodoma, Kondoa and Manyoni districts all within the Dodoma (Administrative) Region.
Geology
The main prospective belt of rocks within the project, the Haneti-Itiso Ultramafic Complex (HIUC), is centred on the small town of Haneti, located 95 kilometres north of Tanzania’s capital city Dodoma . The HIUC sporadically crops out over a strike length of 80 kilometres with most extensive areas of outcrop occurring 15 kilometres east of Haneti Village where artisanal mining of the sem-precious mineral Chrysoprase (nickel stained chalcedonic quartz) is being carried out at a few localities. The rocks of the HIUC comprises serpentinites (metamorphosed ultrabasic rocks e.g. dunite, peridotite), in parts highly silicified, and standing out as small hills on a flat peneplain. These serpentinites are commonly associated with outcrops of metabasic rocks (metagabbro and metadolerite) which being very hard rocks also stand proud. The HIUC is intruded into gneisses of the Paleo-Proterozoic Usagaran System close to the NE margin of the Archaean Dodoman System which locally comprises granite and granodiorite. Within the project block the Usagaran and Dodoman Systems are in fault contact along a 5-25 km wide ductile shear zone represented by sheared granitoids called the Bubu Cataclasites.

Bordering the Haneti block to the west, a new greenstone belt, the Londoni Greenstone Belt has been discovered in recent years within the Archaean Dodoman System. AIM-listed Shanta Mining Plc has published a resource of approximately 1 million ounces at a grade of 1.5 grams per tonne from a number of small prospects over a 6 kilometre strike length in this area. This greenstone geology extends southeast in to the Haneti project where work by another company, Lake Victoria Gold Mining Company Ltd, is reporting positive gold exploration results from mining claims that occur within the Haneti prospecting licence offer area, PLA 1162.
Haneti-Itiso Ultramafic Complex
Exploration by Kibo up to the end of 2010 over this geological unit comprised, rock sampling, soil sampling, geological mapping, trenching, geophysical surveys and petrographic analyses.

Rock samples taken from outcrop, spoil heaps, trenches and pits produced numerous high nickel values with highest values seen in saprolite developed on serpentinite. The best multi-metal rock sample result came from a magnetite rich rock outcrop in an old prospecting pit on Mihanza Hill with values of 13.59% nickel, 0.25% Cobalt, 78 ppb (parts per billion) gold, 413 ppb platinum, 1930 ppb palladium and 927 ppm (parts per million) copper. The high nickel associated with platinum and palladium make this a priority area for follow-up work including drilling to test for more extensive primary nickel and platinoid mineralisation at depth.

Soil geochemical sampling on 400m X 200 m centres covering an area of 38 square kilometres was carried out over an area broadly coincident with the rock sampling areas. Geochemical analyses was carried out for a number of metals and results showed significant nickel enrichment in regolith above serpentinites on the hilltops. There is good correlation between nickel, cobalt, copper, gold and arsenic. An unexpected result from the regional soil sampling was the highly anomalous gold values at some locations. The best gold values were at Mwaka Hill where follow-up detailed soil sampling results produced a multi-metal soil geochemical anomaly with gold values in the range 50-1,200 ppb. These results significantly enhance the gold prospectivity of the area.

Further results from geological mapping , geophysical surveying and external consultants reports have also confirmed the potential of the project for primary and laterite nickel deposits and platinoid mineralisation.
Londoni Greenstone Belt
There is little detailed information on the extent and nature of this recently discovered greenstone belt but information from companies working in the area indicates a northwest-southeast trending zone of sheared greenschist and mafic dykes within which occur auriferous quartz veins. The presence of significant artisanal mining activity on the belt and within PLA 1162 in the western part of the Haneti project indicates that gold is being recovered. Kibo has not carried out any work in this area to date due to the significant artisanal mining activity and while it awaits issue of the prospecting licences under offer to it.
Exploration Programme 2011 -2012
Exploration results during 2011 in the Haneti Hills area gave trench values of 0.4% nickel over 93m at Mwaka Hill and 0.26% nickel over 80m at Mihanza Hill confirming the nickel potential of these areas. Soil sampling results also showed widespread high anomalous nickel (and cobalt) at Kwahemu Hill.

Kibo also continued to investigate the gold potential in the western part of the Haneti block in 2011/2012. Mapping by the Company has identified greenstone rock assemblages around the village of Meia-Meia on the southwestern border of the Haneti block which appear to be the continuation of the Londoni Greenstone Belt.

A Stage 1 field exploation programme on priority areas was implemented at Haneti during 2012. This programme comprised a pit sampling survey to investigate the laterite nickel potential over one area of approx 10 km2 in the Haneti Hills area and a ground EM and magnetic survey over Mwaka and Mihanza Hills. The pitting survey did not produce any significant results. However, the geophysical surveys did locate conductors both at Mwaka and Mihanza that may result from the occurrence of nickel sulphide mineralisation at depth.
Exploration Programme 2013
A significant development in December 2012 was the signing of a JV Agreement with Brazilian Industrial conglomerate Votorantim Metais Participacoes ("Votorantim") on the project. The JV provided for Votorantim to fund further exploration up to a maximum of GBP 2.7 million within an initial period to earn a 50% interest in the project. Following expenditure of the initial tranch of funding of GBP500,000 in 2013, Votorantim withdrew from the joint venture in December 2013 and Kibo has now re-acquired 100% interest in the project. The Votorantim funded exploration programme during 2013 has added significantly to the technical database for the project and has verified and expanded on the historical results enabling a greater understanding of the geology and mineral potential of the project. New prospective areas for nickel-PGM style mineralisation have been have been discovered along the main target zone (Haneti Itiso Ultramafic Complex) together with better resolution of existing drill targets at Mwaka and Mihanza Hills. A field based regional assessment of the entire project has identified further nickel-PGM, gold and lithium/REE prospective areas as well as enabling a rationalisation of the licence portfolio to be undertaken which is now underway.

The Company is continuing to evaluate the results of the 2013 exploration programme and plan the next phase of exploration which it is anticipated will include an initial drilling programme during 2014.


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