| Wed 2 Sep 2009, 9:00 | | KWR - Kiwara - Independent ore resource statement - Kalumbila |
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KWR
KWR
KWR - Kiwara - Independent ore resource statement - Kalumbila
Kiwara Plc
Registration number: 01760458
JSE: KWR
AIM: KIW
ISIN: GB0007702953
("Kiwara")
INDEPENDENT ORE RESOURCE STATEMENT REPORT RAISES KALUMBILA COPPER RESOURCE TO
CONTAIN A POTENTIAL 1.45 BILLION TONNES AT 0.76% TOTAL COPPER
The board of Kiwara plc is pleased to announce that it has received the signed
Resource Estimation Report for Kalumbila from Snowden, the international Mining
Consultancy.
Highlights:
- Kalumbila Inferred Mineral Resource revised by Snowden from 1.38 Billion to
1.45 Billion tonnes - an increase of 5%
- Grade revised from 0.78% to 0.76% (Copper) Cu at 0.3% cut-off, a decrease of
2.5%
- Grade /tonnage table shows very robust model - copper grade increases to above
1% Cu with 830 million tonnes at cut-off of 0.5%Cu
- Gross resource of 3.76 Billion tonnes at 0.37% Cu without cut-off
- Aggressive infill together with strike and dip extension drilling programme
implemented
Snowden independent Resource Estimation (Revised):
Classification Cut - Tonnage Total Total Total
(SAMREC 2007) Off (MT) Copper Nickel Cobalt
(T Cu %) (initially (%) (%) (%)
reported) (initially
reported)
Inferred 0.3 1,450 0.76 0.04 0.03
(1,380) (0.78)
Colin Bird (Chairman) said "We are delighted with this revised resource
estimation. The revision shows increased tonnage, without an adverse effect on
grade. Of significance is the strong indication of continuity. We are
particularly impressed with the gross tonnage and grade suggesting a major
copper resource.
Kiwara is moving rapidly on to a feasibility study and to which end we are
already employing drills on closer definition for mining reserve purposes."
Grade / Tonnage Curve
Taken through the range of cut-offs set out in the table below, significant
tonnages accrue, indicating consistency. Meanwhile the ore body remains open
both in dip and strike.
Cut-off Tonnage Grade
(Cu) (Billions of Tonnes) (Cu)
Nil 3.76 0.37%
0.3% 1.45 0.76%
0.5% 0.83 1.04%
0.8% 0.39 1.52%
1.0% 0.26 1.84%
Drilling Programme
In the light of the variograms generated from the existing drill data, Snowden
conclude that drilling on a 200m x 150m grid will provide sufficient data for an
"indicated" resource. This is now being executed by the Company. Concurrent with
this infill and strike extension drill programme, other related programmes will
be conducted to provide data for scoping study.
The Resource Estimation was prepared by Shaun Hackett - BSc, Geology, MAusIMM,
MAIG, Group Geostatistician for Snowden Mining Consultancy, in accordance with
the SAMREC 2007 guidelines
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
Nick Rome/ Giang Nguyen
Tel: +44 (0)20 7562 3359
Date: 02/09/2009 09:00:01 Produced by the JSE SENS Department.
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