| Tue 8 Jul 2008, 16:33 | | TEL - TEAL Exploration & Mining Inc. - Copper Mineralization Discovered At |
|
TEL
TEL
TEL - TEAL Exploration & Mining Inc. - Copper Mineralization Discovered At
Teal`s Kasonta 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
COPPER MINERALIZATION DISCOVERED AT TEAL`s KASONTA COPPER PROJECT IN THE DRC
- Exploration drilling program at Kasonta in the DRC delivers initial assay
results, including:
- 23 metres at 4.8% copper (from a depth of 25 metres); and
- 6 metres grading 4.4% copper (from a depth of 52 metres)
- Regional geochemical sampling program completed
TEAL Exploration & Mining Incorporated (TSX-"TL") (JSE-"TEL") ("TEAL") has
announced the discovery of extensive copper mineralization in the greater
Kasonta area adjacent to TEAL`s Lupoto Copper Project, which forms part of
TEAL`s 60%-owned Kasonta-Lupoto Mines sprl ("Kalumines") mining licence area,
situated close to Lubumbashi in the Democratic Republic of the Congo ("DRC").
The results of two boreholes, KASD 0136 and KASD 0134 have been received and are
summarized below:
Borehole Depth from Intersection Copper (%)
(m) (m)
KASD 136 0.00 10.50 3.20
25.00 23.30 4.80
52.00 6.00 4.39
133.00 2.30 1.47
KASD 134 0.00 16.00 2.73
26.50 16.50 2.02
46.80 6.70 1.92
59.50 2.30 1.55
65.50 10.50 1.97
As the information is not yet available, TEAL will report "true widths" of
intersections when the 43-101 compliant resource is completed
TEAL`s initial drilling program commenced in March 2007 on the Lupoto
`horseshoe` structure, where previously Union Miniere du Haut Katanga ("UMHK")
and La Generale des Carrieres et des Mines ("Gecamines") drilled 73 boreholes
and partially defined the copper oxide mineralization which is now known as
TEAL`s Lupoto Copper Project.
TEAL has completed a 400 metre line spaced termite mound geochemical sampling
program to delineate possible evidence of copper mineralization below the
extensively developed soil cover in this area. The results of this program are
shown in Figure 1 and 2. Good copper anomalies in termite mound soils, with
values in access of 600 ppm copper, are defined in an area now generally
described as the Greater Kasonta Area, which is situated about 500 metres to the
east of Lupoto and stretches for more than 2,400 meters and which includes the
copper-in-soil enriched area known as Niamumenda.
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; all within a few
kilometres from each other. Kalumines is a 60:40 joint venture with 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. The figure shows an outline of areas where TEAL is
undertaking exploration work. The regional results of the termite mound sampling
program delineate important anomalous areas, which are now being explored
through further geological work including drilling.
Within the Greater Kasonta Area, TEAL has established a grid over the area
initially spaced 100 metres apart with closer spaced lines over the Kasonta
prospect. Initial drilling of 41 boreholes (of a total of 46 boreholes) for a
total of 5,029 metres was completed. This drilling program was aimed at broadly
defining the copper mineralization, and to test the strike extension between the
known copper occurrences of Kasonta and Niamumenda. The results of the drilling
outline extensively developed copper mineralization comprising both oxide copper
(malachite and chrysocolla) and sulphides copper (mainly chalcocite) situated in
specific geological units comprising mainly dolostone and breccia, probably of
the RGS unit of the upper Series des Mines.
Importantly, the copper mineralization is extensive and to-date remains open-
ended down dip and along strike between the known occurrences of Kasonta and
Niamumenda, for a strike exceeding 2,400 metres.
On average, the copper mineralized units dip between 50o-60o to the NE.
TEAL recently acquired a containerized sample processing facility which will be
independently managed by ALS Chemex (South Africa) (Pty) Limited, an
internationally accredited laboratory. The samples received from the drilling
program in the Greater Kasonta Area are presently being processed for analysis.
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.
ends
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 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 core 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
Tuesday, July 8, 2008
Date: 08/07/2008 16:33:39 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
