| Fri 30 May 2008, 16:00 | | TEL - Teal - Further Massive Sulphide Intersection At Teal`s Lupoto Copper |
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TEL
TEL
TEL - Teal - Further Massive Sulphide Intersection At Teal`s Lupoto Copper
Project In The DRC
TEAL Exploration & Mining Inc.
Corporate Access Number: 31403
ISIN: CA8781511099
(Incorporated in Yukon, Canada on 1 June 2005)
SA Company Registration Number: 2006/003229/10
JSE share code: TEL
JSE short name: TEAL
FURTHER MASSIVE SULPHIDE INTERSECTION AT TEAL`S LUPOTO COPPER PROJECT IN THE DRC
- Massive sulphide copper mineralization intersected at Lupoto in the DRC,
including:
- 59 meters at 5.08% copper and 0.15% cobalt, and
- 15 meters at 2.60% copper and 0.13% cobalt
TEAL Exploration & Mining Incorporated (TSX-"TL") (JSE-"TEL") ("TEAL") has
announced more high-grade exploration drilling intersections at the Lupoto
Copper Project, which forms part of TEAL`s 60%-owned Kasonta-Lupoto Mines sprl
("Kalumines") mining licence area, situated near Lubumbashi in the Democratic
Republic of the Congo ("DRC").
TEAL`s existing mining licence for Kalumines is located 25km northwest of
Lubumbashi and covers a surface area of 77km2. The licence hosts various near
surface exposures of rich oxide copper mineralization within a few kilometres
from each other. Kalumines is a 60:40 joint venture with La Generale des
Carrieres et des Mines ("Gecamines").
The Kalumines licence area covers a large portion of an approximately 9km wide
kite-shaped anticline containing numerous large rafts of the, prospective, Mine
Series stratigraphy.
TEAL`s current focus is to deliver a compliant resource estimation of the Lupoto
Copper Project. TEAL`s exploration program has also identified other surface
expressions of copper and cobalt mineralization. These exploration targets are
being prioritized to add the maximum value to TEAL`s development strategy for
the Kalumines property.
TEAL has drilled a total of 136 boreholes for 15,589 metres in addition to the
72 boreholes for 5,631 metres drilled by Union Miniere du haut Katanga and
Gecamines to define the copper oxide mineralization at its Lupoto Copper
Project.
The Lupoto Copper Project geological structure occurs over a distance of
approximately 3.7 kilometres.
MASSIVE COPPER SULPHIDE INTERSECTION RESULTS
Borehole LPR/D 0410b collared at some distance to the east on line 600N to
intersect the target geology at depth, intersected massive sulphide copper
mineralization, mainly chalcopyrite, between vertical depths of 168 metres to
227 metres for a true thickness of 59 meters, with the main intersection at a
0.5% TCu cutoff, resulting in 59 metres at 5.08%TCu, 0.44% ASCu, 0.15% Co,
including the following intersections:
- From 168m to 179m, resulting in 11m @ 7.11% TCu; 0.27% ASCu; 0.04% Co,
- From 185m to 198m, resulting in 13m @ 5.99% TCu; 0.76% ASCu, 0.36% Co,
- From 203m to 210m, resulting in 7m @ 6.16% TCu; 0.29% ASCu; 0.03% Co, and
- From 218m to 231m, resulting in 13m @ 7.75% TCu; 0.81% ASCu; 0.29% Co.
This borehole indicates that the copper mineralization is well developed at
depth in this area, but changes from predominantly oxide copper to massive
sulphide copper.
Borehole LPD 0411, collared at some distance to the east on line 500N to
intersect the target geology at depth, also intersected massive sulphide copper
mineralization, mainly chalcopyrite, between vertical depths of 172 metres to
187 metres for a true thickness of 15 meters. This intersections returned assays
of 2.60% TCu, 0.30% ASCu and 0.13% TCo calculated at a 0.5% TCu cut-off
including the following intersection:
- From 179m to 186m, resulting in 7m @ 3.44% TCu, 0.53% ASCu, 0.27% Co.
Kalumines has four drill rigs on site to conduct exploration activities, which
includes the Lupoto Copper Project resource drilling and the assessment of the
continuity of the massive copper sulphide zone of mineralization at these
depths.
TEAL has appointed Sphynx Consulting as an independent consultant to conduct the
database verification, geological modelling, ore body modelling and resource
estimation work. A geological model has been created and the mineralized area
has already been modelled for the Lupoto Copper Project. TEAL has appointed SRK
Consulting as the Qualified Person to complete the, NI 43-101, Independent
Qualified Persons Report on the Lupoto Copper Project. These recent analytical
results are certified by ALS Chemex Laboratory in Johannesburg, South Africa an
internationally accredited facility.
Mr. Claus Schlegel, Pr. Sci. Nat. (No. 400149/90), TEAL`s Vice President:
Exploration and Business Development, is the "qualified person" for the content
of this press release in terms of National Instrument 43-101.
NOTES:
TEAL is incorporated under the laws of the Yukon, Canada and its common shares
are listed on the Toronto Stock Exchange ("TSX") and the JSE Limited ("JSE").
The common shares of the Company trade under the symbol "TL" on the TSX and
"TEL" on the JSE.
TEAL is a mineral development and exploration company with development projects
and exploration areas in Namibia, Zambia, Mozambique, and the DRC. TEAL has a
portfolio of base and precious metal development projects and complementary
exploration areas, and the Company continues to seek other opportunities, mainly
in southern and central Africa.
TEAL has targeted specific projects: the Konkola North Copper project in Zambia;
the Otjikoto Gold Project in Namibia; and the Kalumines Copper-Cobalt Project in
the DRC. TEAL also has interests in various other mineral licence areas in
Zambia and in Namibia on which the Company continues drilling and other
exploration activities.
ADDITIONAL TEAL INFORMATION CAN BE FOUND AT: www.tealmining.com
For further details contact:
Julian Gwillim (VP: Investor Relations and Corporate Development) on +27 82 4524
389 (SA); or julian@tealmining.com
Sponsor: Investec Bank Limited
Date: 30/05/2008 16:00:01 Produced by the JSE SENS Department.
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