| Wed 17 Jun 2009, 14:00 | | KWR - Kiwara plc - Update On The Kalumbila Copper Resource |
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KWR
KWR
KWR - Kiwara plc - Update On The Kalumbila Copper Resource
Kiwara plc
Registration number: 01760458
JSE: KWR
AIM: KIW
ISIN: GB0007702953
("Kiwara" or the "Company")
INDEPENDENT ORE RESOURCE STATEMENT DEMONSTRATES THE KALUMBILA COPPER RESOURCE TO
CONTAIN A POTENTIAL 1.38 BILLION TONNES AT 0.78% TOTAL COPPER WITH NICKEL AND
COBALT CREDITS
The board of Kiwara plc are very pleased to announce that Snowden, the
international Mining Consultancy, has estimated the Kalumbila Mineral Resource
as 1.38 Billion tonnes with an average grade of 0.78% total Copper above a
reporting cut-off grade of 0.3% total Copper.
Highlights:
- Kalumbila Inferred Mineral Resource estimated by Snowden as 1.38 Billion
tonnes at 0.78% Copper;
- Model is based upon the data from 31 bore holes drilled by the Company
together with 31 historic bore holes;
- Mineral Resource classified as Inferred in accordance with SAMREC 2007
guidelines;
- Geological model is open on strike;
- The Board considers the magnitude and attitude of inferred resource suggest
potential for world-class open pit mine.
Snowden independent Inferred Resource Statement
Classification Cut - Off Tonnage Total Total Total
(SAMREC 2007) (T Cu %) (MT) Copper Nickel Cobalt
(%) (%) (%)
Inferred 0.3 1,380 0.78 0.04 0.03
Snowden generated a geological model and has estimated grades for total Copper,
Nickel and Cobalt based on assay results previously reported to the market.
Snowden classify the Mineral Resource as Inferred in accordance with SAMREC 2007
guidelines.
The geological model is open on strike to the south west - an area for which the
Company has determined geochemical anomalies, which will be drilled.
The purpose of this independent study was to assess in broad terms the magnitude
of the Kalumbila project and its potential for contained metal. From this
Statement the Company will conduct further infill drilling, metallurgical
assessment and financial modelling to determine the size and structure of a
potential mine. Thereafter, if appropriate, the Company will optimise the
results and progress to bankable feasibility study.
Colin Bird (Chairman) said "We are very pleased with this independent result,
which has endorsed our conviction that Kalumbila is indeed a large resource
suitable for bulk, open pit mining. The Inferred Resource Statement indicated
that the deposit is open ended and therefore there is the potential for
significant enlargement.
We will now aggressively move towards closer definition, with the objective of
producing an ore resource statement of a type suitable for inclusion in a
bankable feasibility study.
Concurrently, we will conduct further drilling at the Kawako nickel and copper
projects, whose early results demonstrated significant potential."
The Resource Statement was prepared by Shaun Hackett - BSc, Geology, MAusIMM,
MAIG, Group Geostatistician for Snowden Mining Consultancy.
This release has been approved by Colin Bird, who is Executive Chairman of
Kiwara, Chartered Engineer and a fellow of The Institute of Materials, Minerals
and Mining.
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
Colin Bird, Chairman
Tel: +44 (0)207 581 4477
Peter Vivian-Neal, Chief Executive Officer
Tel: +260 (0) 211 293899
Sasfin, Johannesburg
Brian Christie, Corporate Finance
Tel: +27 (0) 11 809 7511
FinnCap, London
Matthew Robinson, Corporate Finance
Tel: +44 (0) 20 7600 1658
Bishopsgate Communications Ltd
Suzanne Johnson-Walsh
Tel: +44 (0)20 7562 3359
United Kingdom
17 June 2009
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited
Date: 17/06/2009 14:00:03 Produced by the JSE SENS Department.
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