| Mon 19 May 2008, 7:00 | | KWR - Kiwara Plc - Drilling Update - Kawanga Urani |
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KWR
KWR
KWR - Kiwara Plc - Drilling Update - Kawanga Uranium Target
Kiwara Plc
Share codes: JSE - KWR
AIM : KIW
ISIN: GB0007702953
(`Kiwara" or the "Company`)
Drilling Update - Kawanga Uranium Target
The board of Kiwara, the Zambian based mining exploration Company, is pleased
to announce the results of its preliminary drilling programme on the Kawanga
uranium target situated within Prospecting licence 267, its exploration
property.
Highlights:
- Drill programme intercepts uranium at potentially viable grades in four
drill holes which confirms historic findings
- Most significant intersection assayed is 0.87% U308 over 1m
- Result provides confidence to conduct further exploration
Uranium Drilling Update:
The Company has completed a preliminary drilling programme to test a
radioactive anomaly and to verify historic exploration for uranium at
Kawanga. Drilling results confirm that the mineralization occurs in at least
two zones, one of which may appear to measure some 700x550m and which may be
up to 6m thick.
The mineralization has been found within, and at the contact between the
Muscovite Schist and the Biotite Schist, which the Company correlates as the
contact between Lower and Upper Roan series.
The mineralised intersections from the Kawanga UraniumTarget:
Drillhole Depth (m) Intersection(m) %U3O8 Drilling
Method
WR8 105 1 0.87 RC
WR11 123 1 0.51 RC
WR12 58 6 0.118 RC
W2 224 0.22 0.11 Core
RC= Reverse Circulation drilling
WR12 includes a 1m intersection from 63m that assayed 0.32% U308
These positive results will enable the Company to finalise a follow-up
programme to delineate the Kawanga target and also to develop an exploration
signature to apply to other regional uranium targets identified within the
licence area.
The Kawanga Uranium target was identified by AGIP in the 1970`s and was
drilled extensively. Unfortunately, whilst it has been documented as a
prospective uranium target no original drill or assay data is currently
available. The Company therefore is required to conduct its own drill
programmes in order to ascertain size and grade of the target area in order
to develop a resource.
The assays of the samples from these drill holes were carried out by Alfred
H. Knight of Merseyside, England, an internationally accredited laboratory
(SANAS,UKAS,QMS) using ICP analysis.
Peter Vivian-Neal (CEO): `These results are very encouraging and confirm
previous statements as to the uranium potential of the licence area. The
Company will embark upon a further work programme with the intention of
delineating resource, both at Kawanga and other locations within the licence
area`
About Kiwara:
Kiwara is a mining, exploration and development company with a focus on
copper, nickel, cobalt and uranium with a specific focus on the Republic of
Zambia, a country which together with the Democratic Republic of Congo hosts
Africa`s largest and potentially one of the world`s most productive
mineralized zones, the Copperbelt.
Kiwara through its subsidiary holds Prospecting Licence 267 which covers a
significant portion of the Kabompo Dome in North Western Zambia, a complex
poly-metallic geological feature (created by upward thrust of the basement
granites through the more recent sedimentary rocks). This is within the area
considered to be the western extension of the Copperbelt, an increasingly
significant mining area that contains the new Kansanshi and Lumwana copper
mines.
For further information, please contact:
Kiwara Plc Tel: +44 (0)207 581 4477
Colin Bird, Chairman
Peter Vivian-Neal, Chief Executive Officer Tel: +260 (0) 211 293899
Investec Bank, Johannesburg
Robert Smith Tel: +27 (0) 11 286 7326
Investec Bank (UK) Limited Tel: +44 (0) 20 7597 5000
Gerard Kisbey-Green / Jan Bosch
Bishopsgate Communications Ltd Tel: +44 (0)20 7562 3366
Nick Rome
19 May 2008
Sponsor: Investec Bank Limited
Date: 19/05/2008 07:00:08 Produced by the JSE SENS Department.
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