Significant Geochemical Results - Kabete Project
Summary by AI BETAClose X
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE 10 June 2026
Amigo Resources PLC
("Amigo" or the "Company" and together with its subsidiaries, the "Group")
Significant Geochemical Results from Kabete Project
Executive Summary
Amigo Resources PLC (LSE: AMGO) is pleased to announce highly encouraging results from the Group's comprehensive geochemical exploration programme at the Kabete Project, located in the Kilindi-Handeni District of Tanzania. Analysis of an extensive dataset comprising 1,500 soil samples with multi-element data has confirmed the presence of a robust, multi-style gold system, while also identifying emerging potential for platinum group metals ("PGMs") and rare earth elements ("REEs").
In parallel with the exploration programme, the Company has already announced, on 14 May 2026, that the Group has been granted Processing Licence PCL/00496/2026, providing a framework for the evaluation and potential processing of historical tailings and other mineralised materials within the licence area. This marked a significant step towards potential early production.
As stated in October 2025, when Craig Ransley first joined the Company as a consultant, Amigo continues to seek a possible reverse transaction ("RTO"), which is likely to be within the mining sector. However, there can be no certainty that an RTO will take place.
Key Highlights
Exceptional Gold Anomalies
The soil geochemistry programme has identified multiple coherent gold anomalies across the Kabete Project, with the Kwamsambia-Negero corridor emerging as a Tier-1 drill target.
• A peak gold-in-soil value of 1.03 ppm (1,030 ppb) was recorded, which is considered exceptional for residual soil sampling and strongly indicates proximal bedrock mineralisation.
• The statistical analysis confirmed by an independent laboratory of the 1,500-sample database establishes a background gold median of 15 ppb, with a mean of 38.7 ppb, confirming a strongly anomalous terrane typical of orogenic-gold systems.
Dual Mineralisation Styles
A moderate positive correlation between gold and arsenic (r = 0.388) supports the presence of two coexisting gold mineralisation styles within the Kabete system:
1 Free-Milling Gold: High-grade gold samples with low arsenic content, consistent with quartz-vein-hosted, free-milling mineralisation.
2 Sulphide-Associated Gold: Coincident gold and arsenic enrichment, indicating refractory or 'invisible' gold locked within arsenopyrite lattices.
The coexistence of these styles broadens the deposit-model envelope and enhances the overall exploration potential of the project.
Multi-Commodity Exploration Potential
A preliminary review of historical multi-element geochemical data has highlighted significant exploration upside beyond gold:
• PGM Potential: Elevated nickel, chromium, cobalt, and vanadium anomalies have been identified, consistent with mafic-ultramafic lithologies that are globally recognised as favourable hosts for platinum group elements.
• REE Potential: Discrete lanthanum, thorium, and uranium anomalies provide early indications of potential rare earth element enrichment within the licence area.
Processing Licence and Early Production Potential
The Group has been granted Processing Licence PCL/00496/2026 for the Kabete Project area. Preliminary development and engineering activities are progressing for a processing facility targeting historical tailings and mineralised materials.
Alongside exploration activities, the Group has commenced planning and development activities associated with the establishment of a processing facility within the Kabete Project area. The facility is intended to evaluate and process historical tailings and other mineralised materials using proprietary processing technologies being developed by the Group for the recovery of gold and selected strategic minerals.
The Company believes that the combination of exploration targets, historical tailings opportunities, and near-surface mineralised zones provides multiple development pathways capable of advancing the project toward potential future early production, subject to technical evaluation, permitting requirements, and economic assessment.
Alluvial Potential
Ongoing field investigations, geological interpretation, and target generation work continue to identify prospective alluvial and near-surface mineralisation zones within the broader project area. These zones are being incorporated into the Group's ongoing evaluation programme and may provide opportunities for future production initiatives, subject to satisfactory technical and economic outcomes.
Planned Work Programme
To systematically evaluate these highly prospective targets, the Group is advancing a comprehensive exploration programme, which includes:
• Phase-2 Infill Soil Sampling: A 100 m × 25-50 m grid over the Tier-1 Kwamsambia corridor to refine drill-collar planning.
• Trenching and Structural Mapping: Dedicated trenching across priority gold-arsenic anomalies to characterise the sulphide host and determine structural orientations.
• Geophysics and Drilling: Ground magnetic surveys followed by Phase-1 Reverse Circulation (RC) drilling over the Kwamsambia cluster.
• Micro-Seismic Analysis: Ongoing micro-seismic work is being conducted to further refine drill targets and structural understanding.
• Specialist Analytical Programmes: Targeted evaluation of the identified mafic-ultramafic and REE anomalies to assess their economic significance.
Chairman Commentary
Craig Ransley, Executive Chairman of Amigo Resources PLC, commented:
"The continuing review of the Kabete geochemical database reinforces our belief that Kabete represents a highly prospective and underexplored mineral district. The exceptional gold anomalies identified at Kwamsambia, together with coincident arsenic enrichment, support the presence of both free-milling and sulphide-associated gold mineralisation.
In addition, the identification of geochemical signatures consistent with mafic-ultramafic lithologies and potential REE enrichment significantly enhances the strategic value of the project.
Importantly, the grant of Processing Licence PCL/00496/2026 allows the Group to advance development planning for the evaluation of historical tailings and other mineralised materials within the licence area. Work associated with the establishment of a processing facility is underway, utilising proprietary technologies being developed by the Group.
The combination of exploration success, processing opportunities and the identification of prospective alluvial zones provides Amigo with multiple avenues through which to advance the Kabete Project as we continue our systematic development programme."
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.
Contacts:
|
Amigo Holdings PLC |
investors@amigo.me |
|
Craig Ransley |
Executive Chair |
|
Nick Beal |
Chief Executive |
|
|
|
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Sponsor |
Beaumont Cornish 0207 628 3396 |
About Amigo Resources PLC
Amigo is a public limited company registered in England and Wales with registered number 10024479. Amigo is focussed on gold and rare earth mining opportunities in Africa, principally in Tanzania and Mauritania. The Amigo Shares are listed on the Official List of the Financial Conduct Authority and traded on the Main Market of the London Stock Exchange
Important Notice & Caution Regarding Forward-Looking Statements
This announcement is not intended to, and does not, constitute or form part of any offer, invitation, or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell, or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise.
This announcement contains forward-looking statements concerning Amigo Resources PLC. Forward-looking statements are not statements of historical fact, and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties, and other factors. Forward-looking statements in this document are based on Amigo's beliefs, opinions, and estimates as of the dates the forward-looking statements are made, and no obligation is assumed to update forward-looking statements if these beliefs, opinions, or estimates should change or to reflect other future developments.
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Sponsor as defined in the FCA UK Listing Rules and is authorised and regulated by the FCA. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.
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