The Haneti Project is held under a joint venture, whereby Katoro holds 65% ownership interest and 35% by Power Metal Resources plc (LON:POW).

The project is still in an  early exploration stage and current activities are focused on development and confirmation  of the anomaly.  This stage requires the drilling in phases to confirm the anomaly.  A first stage of the drilling was a Reverse Air Blast (RAB) drilling campaign, followed by a second stage  limited Diamond Drilling programme to extract samples from fresh rock to confirm conclusion made to date from surface sampling.

1. Rotary Air Blast (“RAB”) drilling

Completed January 2021

The RAB drilling programme focussed on the Mihanza Hill and Mwaka Hill targets which were selected based on the recommendations of the 2012 airborne electromagnetic (“AEM”) geophysics survey, the detailed field programme undertaken in 2013 and further supplementary exploration findings.  Drilling was focused on Mihanzi Hill and Mwaka Hill for this campaign, as they were considered to be the priority targets at this stage.

The 1,965m RAB drilling programme consisted of 50 holes drilled on linear fences across the targets. The programme is seeking to verify the existence of near surface nickel sulphide mineralisation at each target whilst increasing the geological understanding such that the orientation and the meterage of a planned follow-up diamond drill programme can be optimised to confirm the scale of any nickel sulphide mineralisation


  • Maiden drill programme completed with 1,965 metres, completed over 50 holes at Mihanza Hill and Mwaka Hill with 1,965 samples collected.
    • 776 three metre composite samples prepared from the RAB drill programme with a Quality Assurance/Quality Control sample inserted every 10 samples.
    • All RAB samples were sent to SGS Tanzania (“SGS”), an accredited assay laboratory, all samples analysed based on their multi-element Aqua Regia Digestion/ICP-OES method with 13 select samples to also tested using Fire Assay for gold, platinum and palladium.

Refer to RNS 9441M dated 26th January 2021 for more information.

2. Diamond Drilling Programme

Completed January 2022

The first diamond drilling conducted out by the JV within the Haneti Project area was completed in January 2022. Below is a map highlighting the locations for the drill programme:


  • The drill programme has been completed successfully with a total of 900.04 metres completed across three drill holes as planned.
  • Two diamond core holes were drilled at the Mwaka Target for a combined total of approximately 469,8m, designed to test two discrete high-priority conductors.
  • A single 430,24m deep diamond core drill hole was carried out at the Mihanza Target.
  • Large intersections of serpentinite and gabbroic rocks were identified in the Mwaka drill holes, with indications of peridotitic sequences, the latter subject to confirmation through the thin section petrographic analysis.
  • The Mihanza drill hole intersected massive serpentinite from surface and serpentinised meta-gabbroic rocks at depth
  • Core logging and sampling is underway, with samples prepared for thin section petrographic analysis and laboratory assay testing (for nickel, copper, platinum, palladium, cobalt, chromium and gold) at SGS Tanzania.