| Mon 22 Feb 2010, 9:00 | | AEA - African Eagle Resources Plc - Drilling Results Received From Ngasamo Hill |
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AEA
AEA
AEA - African Eagle Resources Plc - Drilling Results Received From Ngasamo Hill
Deposit at African Eagle`s Dutwa Nickel Project in Tanzania
African Eagle Resources plc
(Incorporated in England and Wales, registered number 3912362)
AIM share code: AFE & AIM ISIN: GB0003394813
JSE share code: AEA & JSE ISIN: GB0003394813
DRILLING RESULTS RECEIVED FROM NGASAMO HILL DEPOSIT AT AFRICAN EAGLE`S DUTWA
NICKEL PROJECT IN TANZANIA
First drill assay results from Ngasamo confirm the potential to increase the
Dutwa resource.
- 9 of first 13 holes intersect mineralisation
- Key mineralised intersections include:
- 66m at 1.1% nickel including 6m at 2.6%
- 69m at 0.8% nickel including 27m at 1.0%
- 30m at 1.3% nickel including 6m at 2.1%
- 30 of 55 hole RC drill programme completed to date
- Results of the remaining 42 drill holes anticipated before end of Q1
African Eagle`s Managing Director Mark Parker comments, "We are pleased to
report the first assay results from our drilling programme at the Ngasamo Hill
Deposit, which lies adjacent to the Dutwa Nickel Project in Tanzania. The
results indicate that the Ngasamo deposit contains similar nickel grades to
those seen at the main Dutwa deposit, but over greater thickness. Although these
assays are only initial results, they reinforce our belief that Ngasamo has the
potential to increase the Dutwa resource."
Assay results have been received from the first 13 drill holes of a programme of
at least 55 vertical Reverse Circulation (RC) drill holes at the western Ngasamo
Oxide Nickel Deposit at Dutwa. Each hole is drilled through the blanket-like
deposit until it reaches un-mineralised bedrock. The average depth of the 30
holes drilled at Ngasamo to date is 75m, considerably deeper than at Wamangola.
Under African Eagle`s April 2009 agreement with Ngasamo`s owners, (Safina a.s.
of the Czech Republic and its Tanzanian subsidiary Precious Metals Refinery
Company Ltd), the Company will acquire a 35% interest on completion of the
current drilling programme, which is designed to define a JORC inferred
resource. By carrying out further exploration, evaluation and feasibility work,
African Eagle can increase its equity in the Ngasamo project to at least 50% and
up to 75%.
The mineralised intersections with grades of more than 0.5% nickel are listed
below. Assays for nickel and cobalt were carried out at Humac Laboratories in
Tanzania. The samples will now be sent for analysis for a wider suite of
chemical elements.
Hole No From Intersection Ni Grade
(m) (m) (%)
NGRC - 3 3 6 0.71
12 6 0.64
21 27 1.03
54 6 0.59
63 9 0.86
or 3 69 0.77
NGRC - 5 6 12 0.69
51 3 0.54
NGRC - 6 3 3 0.53
NGRC - 8 0 3 0.55
18 6 0.6
NGRC - 9 0 27 1.35
incl. 12 6 2.63
30 3 0.71
36 6 0.86
45 21 1.21
or 0 66 1.11
NGRC - 10 0 33 0.86
36 15 0.83
or 0 51 0.82
NGRC - 11 18 30 1.26
incl. 33 6 2.05
54 3 0.62
63 3 0.5
72 6 0.51
NGRC - 12 33 3 0.51
NGRC - 13 3 15 0.66
Qualified Person
Information in this report relating to exploration results is based on data
reviewed by Mr Christopher Davies BSc, MSc, DIC, FSEG, FAusIMM, Operations
Director for African Eagle, who is a Fellow of the Australasian Institute of
Mining and Metallurgy, has more than 27 years` relevant experience in mineral
exploration, and is a Qualified Person under AIM rules. Mr Davies consents to
the inclusion of the information in the form and context in which it appears.
Technical terms
A glossary of technical terms used by African Eagle in this announcement and
other published material may be found at www.africaneagle.co.uk/p/glossary.asp
For further information:
Mark Parker
Managing Director
African Eagle
+44 20 7248 6059
+44 77 5640 6899
Nicola Marrin
Seymour Pierce Limited, London
Nominated Adviser
+ 44 20 7107 8000
Charmane Russell
Russell & Associates, Johannesburg
+ 27 11 8803924
+27 82 8928052
Ed Portman / Leesa Peters
Conduit PR, London
+44 20 7429 6607
+44 77 3336 3501
22 February 2010
Sponsor
Nedbank Capital
Date: 22/02/2010 09:00:02 Produced by the JSE SENS Department.
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