| Mon 5 Oct 2009, 8:00 | | KWR - Kiwara - To Proceed To Pre-Feasibility Study |
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KWR
KWR
KWR - Kiwara - To Proceed To Pre-Feasibility Study
Kiwara plc
Registration number: 01760458
JSE: KWR
AIM: KIW
ISIN: GB0007702953
("Kiwara" or the "Company")
KIWARA TO PROCEED TO PRE-FEASIBILITY STUDY
The board of Kiwara, the Zambian based exploration Company, is pleased to
announce that it has agreed the format of, and commenced a pre-feasibility study
for the Kalumbila copper project.
Highlights:
- Kiwara appoints Snowden Mining Consultants to advise and assist with pre-
feasibility study at Kalumbila;
- Area for study to define open pittable mineralisation identified in central
core of Kalumbila strike;
- In-fill drilling programme commenced to raise resource category from
Inferred to Indicated;
- Northeast and southwest of central core to be subject to further
exploration.
Kiwara has contracted Snowden the independent mining consultants to assist and
advise in a pre-feasibility study of the Kalumbila copper project.
The initial area of focus for open pittable mineralisation has been identified
by Snowden to contain an Inferred Resource of 340 million tonnes at a grade of
0.78% copper (as at September 2009 at a 0.3% copper cut-off). In selecting the
area for pre-feasibility study, management focused on the central mineralised
zone that occurs over a strike length of 4km and extends from surface to 450m
below surface, and in which, Company drill results show geological continuity
with thick zones of mineralisation extending from surface (for example the
Company`s borehole L27 includes 96m at 1.02% Cu from 178m (announced 21 February
2008) and borehole L33 includes 4.7m at 0.80% from 14m and 46m at 1.39%Cu from
140.5m (announced 20 August 2008)).
The initial objective of the pre-feasibility study is defined as an in-fill
drilling programme to raise the resource category of the identified open
pittable mineralisation from Inferred to Indicated. This programme is underway
and the aim is to release the results of the study during Quarter One 2010.
Results so far obtained suggest that the central area of Kalumbila has potential
to significantly add both tonnage and grade to the resource. The contribution
from the Northeast and Southwest parts of the Kalumbila strike will be re-
assessed as drilling continues and their confidence status increases.
In proceeding with the pre-feasibility study, the Company has instructed Snowden
to work only with the data generated by Kiwara or third party data in close
proximity to and correlating with the Company`s own data; the reason being that
there is no evidence of quality control records for the historic data and
reliance upon such data may prejudice future resource definition.
Colin Bird, Chairman, said "The appointment of Snowden to advise with this study
confirms our belief that the Kalumbila project is worthy of being "fast
tracked". We intend to move towards bankable study as soon as possible."
Craig Morley, Chief Executive Officer of Snowden said: "The initial resource
modelling satisfied both ourselves and Kiwara that there are prospects for
economic extraction of a copper resource at Kalumbila. We have agreed with our
client on the parameters for the study focused on the central core and look
forward to defining a commercial project."
The Resource Estimation for the initial open pittable target 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 257453
Snowden Mining Consultants
Ivor Jones, Group General Manager Resources
Tel: +61 (0)8 9213 9213
FinnCap, London
Matthew Robinson, Corporate Finance
Tel: +44 (0)20 7600 1658
Sasfin, Johannesburg
Brian Christie, Corporate Finance
Tel: +27 (0)11 809 7511
Bishopsgate Communications Ltd
Suzanna Johnston-Walsh
Tel: +44 (0)20 7562 3359
5 October 2009
Sponsor
Sasfin Capital (a division of Sasfin Limited)
Date: 05/10/2009 08:00:01 Produced by the JSE SENS Department.
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