Drilling Update

RNS Number : 8851O

Kibo Mining Plc

06 July 2010

 



KIBO MINING PLC

Drilling Update

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO) the mineral exploration and development company focused on gold and nickel projects in Tanzania, is pleased to announce the commencement of drilling on its Luhala project located in the Lake Victoria Goldfields of northern Tanzania.

A programme of Reverse Circulation ("RC") drilling comprising 12 holes to depths of 60 to 150 metres is being undertaken to test down dip continuation of known gold mineralisation at Kisunge Hill. The drilling is being carried out on six lines over a strike length of 500 metres.

Kisunge Hill, together with Shilalo South Hill and Shilalo West Hill, contain zones of shallow oxide gold mineralisation where drilling to date has defined a combined JORC-compliant resource of 111,900 oz of gold at a grade of 1.9 grams per tonne. The current drilling is on the eastern side of Kisunge Hill and is on one of a number of targets the Company has identified at Luhala for follow-up drilling. The Directors believe that successful drill results will demonstrate the potential to significantly increase the gold resource at Luhala.  Results will be published as soon as they are available

Review by qualified person

The information in this report that relates to exploration results, mineral resources or ore reserves is based on information reviewed by Noel O'Keeffe, PGeo, who is a Member of the Institute of Geologists of Ireland. Noel O'Keeffe is a director of Kibo. Noel O'Keeffe has at least five years experience within the sector which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a qualified person. Noel O'Keeffe consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Noel O'Keeffe, C.E.O. of Kibo commented:

"We are delighted that our drilling programme at Luhala has commenced earlier in July than anticipated due to a drilling rig becoming available at short notice and I am looking forward to a successful outcome from this work".

Enquiries:

Noel O'Keeffe	[phone]	Kibo Mining plc	Managing Director
John Simpson	020 7776 6550	Daniel Stewart & Company Plc	Nominated Adviser
Fiona Kinghorn / Nick Bealer	020 7448 9820	Alexander David Securities Limited	Joint Broker
Anthony Kluk	020 7628 1128	Loeb Aron & Company Limited	Joint Broker

Updates on the Company's activities are regularly posted on its website www.kibomining.com

 

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