| Tue 10 Jun 2008, 8:00 | | KWR - Kiwara - Identifies Nickel At Kawako |
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KWR
KWR
KWR - Kiwara - Identifies Nickel At Kawako
Kiwara plc
JSE - KWR
AIM - KIW
ISIN - GB0007702953
("Kiwara" or the "Company")
Kiwara identifies nickel at Kawako
The board of Kiwara, the JSE and AIM quoted Zambian based exploration Company,
is pleased to announce initial sampling results that confirm the Company`s
decision to fast-track its planned regional prospecting programme at Kawako.
Highlights:
* Nickel mineralisation confirmed at Kawako;
* Two grab samples from historic drilling rock chip piles assay 1.35% and
1.42% Ni;
* Kiwara to implement an aggressive follow-up exploration programme.
Background:
Upon entering into the joint venture with LM Engineering Ltd in respect of
Prospecting Licence 267, Kiwara conducted a review of historically identified
mineral occurrences within the licence area. The initial priorities, Kalumbila
and Kawanga were selected by virtue of existing geo-chemistry, geo-physics and
drilling data and are the subject of ongoing exploration programmes. Over the
last quarter, Kiwara has continued to review other targets and has identified
Kawako as a highly prospective nickel target.
Kawako is 12km NW of Kalumbila and is in a similar geological setting - a
carbonaceous shale unit within the quartzites which have been historically
correlated to the Lower Roan series of the Katangan supergroup.
Kawako was the subject of an Anglo American soil geo-chemistry programme, the
detail of which was reported in 1995 and a subsequent drilling programme, the
details of which are not available. Whilst conducting regional exploration
Kiwara has established the presence of nickel at Kawako by the assaying of rock
chips from a historic drill collar - these assayed at grades of 1.35% and 1.42%
Ni.
The Company is increasing its geo-chemistry programme additionally assaying for
cobalt and copper. Meanwhile, the Company also continues to examine other
prospective regional targets.
Colin Bird (Chairman) says: "We are delighted with these early sample results
that may indicate significant nickel mineralisation at Kawako. An aggressive
programme to drill this target will now be implemented"
About Kiwara:
Kiwara is an exploration company with a focus on base metals in the Republic of
Zambia, which is a major copper producing country.
Kiwara, through its majority owned subsidiary, Kalumbila Minerals, holds
Prospecting Licence 267 which is within the Kabompo Dome in North Western
Zambia, a complex poly-metallic geological feature, thought to contain abundant
multi metal targets. 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
10 June 2008
Sponsor: Investec Bank Limited
Date: 10/06/2008 08:00:01 Produced by the JSE SENS Department.
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