| Tue 14 Oct 2008, 8:00 | | KWR - Kiwara Plc - Drilling Update |
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KWR
KWR
KWR - Kiwara Plc - Drilling Update
Kiwara plc
JSE - KWR
AIM - KIW
ISIN - GB0007702953
("Kiwara" or the "Company")
Drilling Update - Borehole L35 confirms copper mineralization at Kalumbila
consistent with previously reported borehole results, and it also contains a
deeper zone with notable grades of copper, cobalt and nickel in association
Kiwara, the Zambian based exploration Company, is pleased to announce a further
significant borehole intersection from its ongoing exploration programme of the
Kalumbila base metals target, within its License 267 exploration area.
Highlights:
- Borehole ("B/H") L35 intersected three zones of mineralization containing
copper (Cu), nickel (Ni) and cobalt (Co) sulphides;
- Using a 0.3% Cu cut off the zones are:
- 16.90m with average grade of 0.70% Cu from a borehole depth of 87.10m;
- 42.40m with average grade of 0.86% Cu, including a 20.10m zone with an
average grade of 1.16% Cu, from 164.90m; and
- 5.52m with an average grade of 0.72% Cu from a borehole depth of
280.08m, 2.60m with average grade of 0.22% Co from a depth of 285.1m,
and 1.64m with an average grade of 0.46% Ni, also from a depth of
285.1m.
Kalumbila Drilling Update:
The selected length weighted mineralised intersections for which a cut-off grade
of 0.3%Cu was applied, are summarised in the table below:
Zone Depth Depth Intersected Cu Ni Co
From (m) To (m) width (m) % % %
Zone 1 87.10 104.00 16.90 0.70* - -
Zone 2 164.90 207.30 42.40 0.86* - -
Including 184.20 204.30 20.10 1.16* - -
Zone 3 280.08 285.60 5.52 0.72* - -
Zone 3 285.10 287.70 2.60 - - 0.22*
Zone 3 285.10 286.74 1.64 - 0.46* -
* Weighted average
Core B/H L35, was inclined at -70. and is situated 400m west along strike of
previously identified mineralisation in the Company`s B/H L33, and 800m west of
the mineralisation in the cross section containing the B/Hs L27, LR3, L29, L31
and L34. A further twenty boreholes have been completed to test the extent of
this mineralization, and assay results will be reported when received by Kiwara.
The Company correlates the upper two zones reported in B/H L35 as being a part
of a fold structure initially interpreted from logging of B/Hs drilled to the
east. The multi-base metal results of the lower zone may suggest that pre-
existing pyrite and pyrrhotite, containing the reported nickel and cobalt, has
been partially replaced by copper bearing chalcopyrite. Geological work is in
progress by Kiwara geologists to prove the assumption that the mineralisation
reported may correlate with a soil geo-chemistry anomaly existing to the south
of B/H L35, and extending westward.
The assays of the core samples from this borehole were carried out by Alfred H
Knight of Kitwe, Zambia being an internationally accredited laboratory (SANAS,
UKAS, QMS)
Colin Bird (Chairman) said: "The results from borehole L35 are encouraging since
the intersected grades and widths are significant and the results prove further
strike continuity of the Kalumbila target. Furthermore, the presence of nickel
and cobalt in the borehole , situated 4.5km along strike from the historic
nickel zone, increases the potential for this to be a significant credit in the
Company`s bulk base-metal mining target at Kalumbila."
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 geologically complex antiformal feature, which contains a number of
base metal and uranium targets. This is within the area considered to be the
western extension of the Copperbelt, an increasingly significant mining area
that contains the recently developed 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 / Gavin Hall 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
14 October 2008
Sponsor: Investec Bank Limited
Date: 14/10/2008 08:00:01 Produced by the JSE SENS Department.
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