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AEA
AEA
AEA - African Eagle Resources Plc - JV Partner announces more 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 MORE 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 further RAB drill results from the oxidised
zone at Miyabi gold project in Tanzania and has mobilised an RC rig to test for
higher grade gold in fresh rock beneath these RAB intersections.
Results include:
- 9m at 1.82g/t Au from 21m to end of hole ("eoh")
- 24m at 0.51g/t Au from 15m to eoh, including 6m at 1.61g/t Au from 24m
- 6m at 1.14g/t Au from 18m
- 6m at 0.93g/t Au from 9m
- 6m at 0.42g/t Au from 21m to eoh
- 11m at 0.46g/t Au from 12m to eoh
BrightStar`s results continue to show 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 previously delineated by
African Eagle.
BrightStar reports that many of the rotary air blast ("RAB") holes intersected
broad zones of gold mineralisation in the granite/greenstone contact area, which
was the main conceptual target of the RAB programme. The RAB holes were shallow,
typically 25m-30m in depth, and reveal that much of the area is covered by a 10m
thick blanket of barren laterite and ferricrete, which limits the effectiveness
of soil geochemistry. Beneath this cover is a zone of weathered and leached
bedrock several tens of metres thick, within which gold has been depleted.
Hence, it is likely that higher grades could be present in the unweathered rock
beneath the moderate gold grades seen in the leached zone by the RAB holes.
Deeper reverse circulation ("RC") drilling has now commenced to test for higher
grade mineralisation beneath the better RAB intersections.
The RAB drilling program commenced at Miyabi in June 2011 and comprised 445
holes for 12,013m. The majority of RAB holes tested the highly prospective
granite/greenstone contact zone with shallow holes drilled at 30m spacing along
fences 200m apart.
Results have now been received from around 80% of the RAB holes drilled; the
remaining results and first results from the RC drilling are expected in early
December 2011.
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
2 November 2011
For further information, Please see African Eagle`s web site at
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 grid)
Hole Type X Y Z Total Dip Azimuth
Depth
MBRB478 RAB 5,600 20,176 1,201 33 -60 0
MBRB479 RAB 5,600 20,206 1,200 30 -60 0
MBRB486 RAB 5,599 20,415 1,200 23 -60 0
MBRB489 RAB 5,600 20,506 1,204 25 -60 0
MBRB491 RAB 5,999 20,317 1,200 33 -60 0
MBRB503 RAB 6,000 20,663 1,198 30 -60 0
MBRB510 RAB 6,000 20,865 1,200 27 -60 0
MBRB513 RAB 5,998 20,949 1,195 25 -60 0
MBRB519 RAB 6,200 20,463 1,196 33 -60 0
MBRB524 RAB 6,202 20,610 1,197 27 -60 0
MBRB526 RAB 6,202 20,667 1,196 24 -60 0
MBRB534 RAB 6,200 20,895 1,195 30 -60 0
MBRB535 RAB 6,200 20,926 1194 27 -60 0
MBRB558 RAB 6,400 20,989 1190 29 -60 0
MBRB561 RAB 6,600 20,408 1186 30 -60 0
MBRB579 RAB 6,601 20,923 1187 16 -60 0
MBRB593 RAB 6,802 20,790 1179 27 -60 0
MBRB602 RAB 7,001 20,958 1170 21 -60 0
MBRB610 RAB 7,202 20,574 1175 27 -60 0
MBRB611 RAB 7,199 20,608 1175 29 -60 0
MBRB617 RAB 7,198 20,979 1171 21 -60 0
MBRB625 RAB 6,601 20,955 1190 27 -60 0
MBRB626 RAB 6,601 20,975 1190 22 -60 0
MBRB627 RAB 6,605 21,012 1190 30 -60 0
MBRB628 RAB 6,597 21,043 1190 31 -60 0
MBRB636 RAB 5,798 20,349 1217 27 -60 0
MBRB637 RAB 5,797 20,378 1217 27 -60 0
MBRB649 RAB 5,801 20,722 1217 25 -60 0
MBRB653 RAB 5,797 20,839 1217 25 -60 0
MBRB654 RAB 5,794 20,868 1217 25 -60 0
MBRB668 RAB 7,402 20,826 1168 25 -60 0
MBRB669 RAB 7,402 20,858 1167 25 -60 0
MBRB671 RAB 7,400 20,916 1167 25 -60 0
MBRB688 RAB 7,600 20,838 1170 25 -60 0
MBRB694 RAB 7,600 21,023 1170 25 -60 0
MBRB699 RAB 8,003 20,542 1165 25 -60 0
MBRB700 RAB 8,001 20,574 1165 25 -60 0
MBRB702 RAB 8,001 20,629 1165 25 -60 0
MBRB733 RAB 5198 20391 1215 27 -60 315
MBRB734 RAB 5198 20417 1215 25 -60 315
MBRB743 RAB 5195 20687 1215 25 -60 315
MBRB752 RAB 4999 20535 1215 27 -60 315
MBRB755 RAB 4998 20629 1215 27 -60 315
MBRB757 RAB 4998 20690 1215 23 -60 315
MBRB761 RAB 4798 20359 1207 26 -60 315
MBRB762 RAB 4796 20386 1207 27 -60 315
MBRB763 RAB 4801 20417 1207 27 -60 315
MBRB765 RAB 4797 20475 1207 27 -60 315
MBRB766 RAB 4801 20504 1207 27 -60 315
MBRB767 RAB 4807 20533 1207 30 -60 315
MBRB768 RAB 4798 20569 1207 23 -60 315
MBRB769 RAB 4803 29594 1207 27 -60 315
MBRB777 RAB 4609 20302 1205 31 -60 315
MBRB778 RAB 4603 20328 1205 33 -60 315
MBRB779 RAB 4605 20361 1205 33 -60 315
MBRB780 RAB 4606 20388 1205 30 -60 315
MBRB784 RAB 4597 20506 1205 37 -60 315
MBRB795 RAB 4114 19722 1198 39 -60 315
MBAC176 AC 7,001 20,682 1176 33 -60 0
MBAC182 AC 7,207 20,773 1172 36 -60 0
MBAC182 AC 7,207 20,773 1172 36 -60 0
MBAC184 AC 7,203 20,836 1172 30 -60 0
MBAC185 AC 7,199 20,859 1172 24 -60 0
MBAC187 AC 7,207 20,923 1172 25 -60 0
MBAC188 AC 4185 19792 1198 39 -60 180
MBAC197 AC 4640 19684 1198 36 -60 180
MBAC198 AC 4609 19654 1198 34 -60 180
Drill intersections greater than 0.1g/t gold
Hole Type From (m) To (m) Length (m) Au (ppm)
MBRB478 RAB 6 9 3 0.25
MBRB479 RAB 18 21 3 0.11
and 27 30 (eoh) 3 0.22
MBRB486 RAB 21 23 (eoh) 2 0.27
MBRB489 RAB 0 3 3 0.21
MBRB491 RAB 15 18 3 0.14
MBRB503 RAB 21 30 (eoh) 9 1.82
MBRB510 RAB 6 9 3 0.30
MBRB513 RAB 9 12 3 0.34
MBRB519 RAB 18 21 3 0.23
MBRB524 RAB 3 9 6 0.13
MBRB526 RAB 6 18 12 0.32
MBRB534 RAB 18 24 6 1.14
including 21 24 3 2.11
MBRB535 RAB 12 27 (eoh) 15 0.21
MBRB558 RAB 18 29 (eoh) 11 0.16
MBRB561 RAB 12 27 15 0.27
MBRB579 RAB 9 16 (eoh) 7 0.27
MBRB593 RAB 21 24 3 0.10
MBRB602 RAB 15 18 3 0.15
MBRB610 RAB 18 21 3 0.22
MBRB611 RAB 6 9 3 0.17
MBRB617 RAB 12 15 3 0.18
MBRB625 RAB 3 6 3 0.20
and 21 24 3 0.12
MBRB626 RAB 21 22 (eoh) 1 0.27
MBRB627 RAB 24 30 (eoh) 6 0.12
MBRB628 RAB 18 27 9 0.16
MBRB636 RAB 18 27 (eoh) 6 0.13
MBRB637 RAB 18 27 (eoh) 9 0.89
including 24 27 (eoh) 3 1.76
MBRB649 RAB 18 21 3 0.12
MBRB653 RAB 15 24 9 0.29
MBRB654 RAB 18 25 (eoh) 7 0.64
MBRB668 RAB 24 25 (eoh) 1 6.08
MBRB669 RAB 0 3 3 0.16
MBRB671 RAB 0 3 3 0.15
and 24 25 (eoh) 1 0.23
MBRB688 RAB 24 25 (eoh) 1 0.10
MBRB694 RAB 18 24 6 0.30
MBRB699 RAB 12 15 3 0.12
and 24 25 (eoh) 1 0.58
MBRB700 RAB 15 18 3 0.18
MBRB702 RAB 0 18 18 0.99
including 6 6 2.56 0.42
MBRB733 RAB 15 18 3 0.14
MBRB734 RAB 15 18 3 0.12
MBRB743 RAB 0 3 3 0.28
MBRB752 RAB 21 27 (eoh) 6 0.12
MBRB755 RAB 21 27 (eoh) 6 0.42
MBRB757 RAB 6 9 3 0.13
MBRB761 RAB 3 6 3 0.3
and 15 18 3 0.14
MBRB762 RAB 18 21 3 0.14
MBRB763 RAB 6 9 3 0.12
MBRB765 RAB 18 21 3 0.12
MBRB766 RAB 15 24 9 0.1
MBRB767 RAB 24 27 3 0.16
MBRB768 RAB 12 23 (eoh) 11 0.46
MBRB769 RAB 6 9 3 0.2
MBRB777 RAB 9 27 18 0.15
MBRB778 RAB 30 33 (eoh) 3 0.13
MBRB779 RAB 3 6 3 0.14
MBRB780 RAB 3 6 3 0.17
and 21 24 3 0.13
MBRB784 RAB 24 33 9 0.14
MBRB795 RAB 15 39 (eoh) 24 0.51
including 24 30 6 1.61
MBAC176 AC 27 30 3 0.15
MBAC182 AC 18 21 3 0.11
MBAC182 AC 27 33 6 0.22
MBAC184 AC 15 30 (eoh) 15 0.15
MBAC185 AC 12 15 3 0.12
MBAC187 AC 6 9 3 0.19
and 13 16 3 0.26
MBAC188 AC 18 21 3 0.10
MBAC197 AC 15 33 18 0.14
MBAC198 AC 9 15 6 0.93
(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: 02/11/2011 09:00:41 Produced by the JSE SENS Department.
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