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AEA
AEA
AEA - African Eagle Resources plc - JV partner announces drill results at
Miyabi Gold Project
African Eagle Resources plc
Incorporated in England and Wales
(Registration number 3912362)
(AIM share code: AFE AIM ISIN: GB0003394813)
(JSE share code: AEA JSE ISIN: GB0003394813)
JV PARTNER ANNOUNCES DRILL RESULTS AT MIYABI GOLD PROJECT
African Eagle Resources plc ("African Eagle" or "the Company"; AIM: AFE;
AltX: AEA) is pleased to report that its joint venture partner BrightStar
Resources Ltd ("BrightStar") has announced that its drilling programme at
Miyabi gold project in Tanzania had discovered a substantial additional
gold mineralised system.
Results include:
* MBRB637 9m at 0.89g/t Au from 18m, including 3m at 1.76g/t
* MBRB654 7m at 0.64g/t Au from 18m
* MBRB668 1m at 6.08g/t Au from 24m
* MBRB702 18m at 0.99g/t Au from 0m, including 6m at 2.56g/t Au
from 0m
BrightStar`s results confirm African Eagle`s belief that the Miyabi
structural corridor is highly prospective and that systematic exploration
will be likely to make significant additions to the 0.5 million ounce
resource delineated by the Company.
BrightStar Technical Director Mr Paul Payne said: "We continue to be
encouraged by the results from this first pass RAB program. We have
discovered a gold mineralised system similar in geometry and nature to
the Miyabi Structural Corridor which hosts the 520,000oz Mineral
Resource. Deeper drilling will proceed in the next few weeks."
Four gold mineralised structures have now been discovered, from 20m to
150m wide, all requiring follow-up drilling. The gold mineralisation is
strongly open to the east where prospective greenstones remain untested
for a further 3km.
Several of these shallow reconnaissance drill holes ended in
mineralisation and the discovery will now be followed up by a programme
of deeper reverse circulation ("RC") drilling. All the mineralised
intersections are in oxidized rock and it is likely that the gold grades
will be higher in fresh rock beneath, as has been seen elsewhere in the
Miyabi project.
The drilling programme consisted of shallow RAB holes at 30m spacing
along fences 200m apart. Approximately 400 holes were completed with
average depth of about 27m and to date, results have been received for
around 60% of the holes.
The Miyabi gold project is a Joint Venture between African Eagle and ASX-
listed BrightStar Resources Ltd, under which BrightStar can earn up to
75% of the project by completing exploration and a feasibility study.
A table of all mineralised intersections is set out in the appendix to
this release and full details of the Miyabi drilling programme and
results can be found on BrightStar`s web site:
http://brightstarresources.com.au/
Qualified Person
Information in this report relating to reported exploration results is
based on Brightstar`s 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 30 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.
Sponsor
Merchantec Capital
20 September 2011
For further information:
Please see the Company`s web site www.africaneagle.co.uk or contact one
of the following:
African Eagle Resources plc
Mark Parker (Managing Director)
Euan Worthington (Chairman)
Sandra Spencer (PR Consultant)
+44 20 7248 6059
+44 77 5640 6899
+44 75 1535 7790
Canaccord Genuity Limited
Andrew Chubb
Bhavesh Patel
+44 20 7050 6500
Ocean Equities Limited
Guy Wilkes
+44 20 7786 4370
Russell & Associates, Johannesburg
Charmane Russell
Marion Brower
+27 11 8803924
+27 82 8928052
Appendix
List of all drill intersections greater than 0.1g/t gold
Collar Location and Orientation (local Intersection > 0.1ppm
grid) Au
Hole Ty X Y Z To Dip Azi From To Len Au
pe ta mut (m) (m) gth (ppm
l h (m) )
De
pt
h
MBRB47 RA 5,60 20,1 1,2 33 -60 0 6 9 3 0.25
8 B 0 76 01
MBRB47 RA 5,60 20,2 1,2 30 -60 0 18 21 3 0.11
9 B 0 06 00
and 27 30 3 0.22
(eoh
)
MBRB48 RA 5,59 20,4 1,2 23 -60 0 21 23 2 0.27
6 B 9 15 00 (eoh
)
MBRB48 RA 5,60 20,5 1,2 25 -60 0 0 3 3 0.21
9 B 0 06 04
MBRB49 RA 5,99 20,3 1,2 33 -60 0 15 18 3 0.14
1 B 9 17 00
MBRB50 RA 6,00 20,6 1,1 30 -60 0 21 30 9 1.82
3 B 0 63 98 (eoh
)
MBRB51 RA 6,00 20,8 1,2 27 -60 0 6 9 3 0.30
0 B 0 65 00
MBRB51 RA 5,99 20,9 1,1 25 -60 0 9 12 3 0.34
3 B 8 49 95
MBRB51 RA 6,20 20,4 1,1 33 -60 0 18 21 3 0.23
9 B 0 63 96
MBRB52 RA 6,20 20,6 1,1 27 -60 0 3 9 6 0.13
4 B 2 10 97
MBRB52 RA 6,20 20,6 1,1 24 -60 0 6 18 12 0.32
6 B 2 67 96
MBRB53 RA 6,20 20,8 1,1 30 -60 0 18 24 6 1.14
4 B 0 95 95
includin 21 24 3 2.11
g
MBRB53 RA 6,20 20,9 119 27 -60 0 12 27 15 0.21
5 B 0 26 4 (eoh
)
MBRB55 RA 6,40 20,9 119 29 -60 0 18 29 11 0.16
8 B 0 89 0 (eoh
)
MBRB56 RA 6,60 20,4 118 30 -60 0 12 27 15 0.27
1 B 0 08 6
MBRB57 RA 6,60 20,9 118 16 -60 0 9 16 7 0.27
9 B 1 23 7 (eoh
)
MBRB59 RA 6,80 20,7 117 27 -60 0 21 24 3 0.10
3 B 2 90 9
MBRB60 RA 7,00 20,9 117 21 -60 0 15 18 3 0.15
2 B 1 58 0
MBRB61 RA 7,20 20,5 117 27 -60 0 18 21 3 0.22
0 B 2 74 5
MBRB61 RA 7,19 20,6 117 29 -60 0 6 9 3 0.17
1 B 9 08 5
MBRB61 RA 7,19 20,9 117 21 -60 0 12 15 3 0.18
7 B 8 79 1
MBRB62 RA 6,60 20,9 119 27 -60 0 3 6 3 0.20
5 B 1 55 0
and 21 24 3 0.12
MBRB62 RA 6,60 20,9 119 22 -60 0 21 22 1 0.27
6 B 1 75 0 (eoh
)
MBRB62 RA 6,60 21,0 119 30 -60 0 24 30 6 0.12
7 B 5 12 0 (eoh
)
MBRB62 RA 6,59 21,0 119 31 -60 0 18 27 9 0.16
8 B 7 43 0
MBRB63 RA 5,79 20,3 121 27 -60 0 18 27 6 0.13
6 B 8 49 7 (eoh
)
MBRB63 RA 5,79 20,3 121 27 -60 0 18 27 9 0.89
7 B 7 78 7 (eoh
)
includin 24 27 3 1.76
g (eoh
)
MBRB64 RA 5,80 20,7 121 25 -60 0 18 21 3 0.12
9 B 1 22 7
MBRB65 RA 5,79 20,8 121 25 -60 0 15 24 9 0.29
3 B 7 39 7
MBRB65 RA 5,79 20,8 121 25 -60 0 18 25 7 0.64
4 B 4 68 7 (eoh
)
MBRB66 RA 7,40 20,8 116 25 -60 0 24 25 1 6.08
8 B 2 26 8 (eoh
)
MBRB66 RA 7,40 20,8 116 25 -60 0 0 3 3 0.16
9 B 2 58 7
MBRB67 RA 7,40 20,9 116 25 -60 0 0 3 3 0.15
1 B 0 16 7
and 24 25 1 0.23
(eoh
)
MBRB68 RA 7,60 20,8 117 25 -60 0 24 25 1 0.10
8 B 0 38 0 (eoh
)
MBRB69 RA 7,60 21,0 117 25 -60 0 18 24 6 0.30
4 B 0 23 0
MBRB69 RA 8,00 20,5 116 25 -60 0 12 15 3 0.12
9 B 3 42 5
and 24 25 1 0.58
(eoh
)
MBRB70 RA 8,00 20,5 116 25 -60 0 15 18 3 0.18
0 B 1 74 5
MBRB70 RA 8,00 20,6 116 25 -60 0 0 18 18 0.99
2 B 1 29 5
includin 0 6 6 2.56
g
MBAC17 AC 7,00 20,6 117 33 -60 0 27 30 3 0.15
6 1 82 6
MBAC18 AC 7,20 20,7 117 36 -60 0 18 21 3 0.11
2 7 73 2
MBAC18 AC 7,20 20,7 117 36 -60 0 27 33 6 0.22
2 7 73 2
MBAC18 AC 7,20 20,8 117 30 -60 0 15 30 15 0.15
4 3 36 2 (eoh
)
MBAC18 AC 7,19 20,8 117 24 -60 0 12 15 3 0.12
5 9 59 2
MBAC18 AC 7,20 20,9 117 25 -60 0 6 9 3 0.19
7 7 23 2
and 13 16 3 0.26
(eoh) indicates that the hole ended in gold mineralisation
* Most samples analysed as 3m composites
* Sampling carried out using a cyclone and riffle splitter at 1m
intervals
* Sample preparation at ALS Global in Mwanza, Tanzania
* Gold analysis carried out by OMAC Laboratories in Ireland using
50g aqua regia
* QAQC samples submitted routinely with excellent results
* Holes located by GPS then transformed to local grid coordinates
* Intersections are generally interpreted to represent true
width. Where holes ended in mineralisation, true thickness may
be greater than the intersection thickness.
Date: 20/09/2011 15:30:01 Produced by the JSE SENS Department.
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