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AEA
AEA
AEA - African Eagle Resources plc - Dutwa Project - Wamangola Drilling Results
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)
Dutwa Project - Wamangola Drilling Results
14 June 2012: African Eagle Resources plc ("African Eagle" or the "Company")
(AIM: AFE; AltX: AEA) is pleased to report new nickel and cobalt drill results
from a drilling programme completed during the winter of 2011/12 at the
Wamangola deposit, which comprises the larger part of its flagship Dutwa nickel
project in Tanzania.
The drilling programme was designed to further upgrade the remaining zones of
the Wamangola JORC resource from Inferred to Indicated category. An upgraded
resource report for Wamangola is under development by Snowden in Perth Western
Australia and due for release in Q3 2012.
The new results provide further confirmation of the strength of the Dutwa
resource and reinforce the extent of the significant high-grade zones.
Key Mineralised Intercepts include:
Nickel:
* 54 metres at 2.45% nickel including 6 metres at 4.12% Nickel
* 45 metres at 2.03% nickel including 3 metres at 4.14% Nickel
* 51 metres at 1.04% nickel
* 48 metres at 1.02% nickel
* 36 metres at 1.24% nickel
Cobalt:
* 9 metres at 0.12% cobalt
* 6 metres at 0.14% cobalt
The Wamangola resource upgrade drill programme comprised 93 vertical holes
comprising 4,378 metres of reverse circulation drilling, bringing the total
number of RC drill holes at Wamangola to 421. African Eagle commenced the
drilling in early November 2011 and completed the work in early February 2012.
The programme was specifically designed to upgrade the previously classified
Inferred resource to Indicated category and was defined with the assistance and
approval of Snowden of Perth, Australia, African Eagle`s deposit modelling and
resource geology contractor. Snowden will now conduct a formal resource estimate
to JORC standard with the results expected in Q3 2012. With this most recent
drilling, African Eagle has completed a total of 23,255m of resource drilling at
Wamangola.
All mineralised intersections from the latest drilling with grades of more than
0.5% nickel or 0.05% cobalt are listed below. Assays were carried out at Omac
Laboratories in Ireland on 3m composited RC drill cuttings, with approximately
20% of quality control samples (reference standards, blanks and duplicates)
inserted into the sample stream. The resource upgrade drilling programme
infilled previous drilling to nominal drill collar intervals of 100m x 100m.
All mineralised intersections from the latest drilling with grades of more than
0.5% nickel or 0.05% cobalt are listed below.
Table A: Nickel intersections for drillholes in the resource upgrade programme
Drill Hole From Intersection Grade (% Nickel) Comment
(metres) (metres)
DTRC-329 0 9 0.55
DTRC-330 15 3 0.52
DTRC-359 66 6 0.59
DTRC-360 0 15 0.77
DTRC-362 9 3 0.74
DTRC-363 6 6 0.59
30 3 0.57
DTRC-365 0 3 0.62
6 15 0.63
Or** 0 21 0.6
30 15 2.74
Incl.*** 36 6 4.37
DTRC-366 0 6 0.57
21 3 1.2
36 12 2.09
DTRC-367 6 12 1.02
21 21 1.48
Or 6 36 1.24
DTRC-368 6 9 0.71
18 3 0.51
24 33 0.94
Or 6 51 0.82
DTRC-369 0 9 0.68
12 3 0.73
21 3 0.56
DTRC-370 0 9 0.58
DTRC-371 0 30 0.67
DTRC-372 9 3 0.53
DTRC-374 3 3 0.63
DTRC-375 0 30 1.33
DTRC-376 3 12 0.93
18 36 1.13
Or 3 51 1.04
DTRC-377 3 9 0.74
27 6 0.68
36 15 1.29
Or 27 24 1.03
DTRC-378 0 45 2.03
Incl. 3 3 4.14
DTRC-379 6 3 0.59
DTRC-381 12 18 1.76
Incl. 21 6 2.88
DTRC-382 0 9 0.77
12 6 0.57
21 3 0.55
Or 0 24 0.61
DTRC-383 15 18 0.78
DTRC-384 0 3 0.54
DTRC-385 0 30 1.33
Incl. 18 6 2.89
DTRC-386 0 54 2.45
Incl. 15 6 3.4
and 36 6 4.12
DTRC-387 21 3 0.55
27 3 0.61
DTRC-389 0 24 0.84
DTRC-390 3 33 1.13
42 3 0.53
DTRC-391 0 15 1.16
DTRC-392 15 6 0.71
DTRC-393 6 6 0.59
15 6 0.63
Or 6 15 0.59
DTRC-394 9 9 0.84
DTRC-395 3 42 1.09
48 3 0.62
Or 3 48 1.02
DTRC-396 0 18 0.62
45 3 0.53
DTRC-397 0 3 0.53
15 6 0.83
27 3 0.65
36 12 1.02
DTRC-398 21 12 0.65
DTRC-402 3 3 0.72
DTRC-403 0 6 0.6
DTRC-404 3 6 0.57
DTRC-406 3 12 0.83
DTRC-407 12 3 0.54
21 3 0.56
DTRC-408 18 6 0.67
27 3 0.61
Or 18 12 0.6
57 1 0.6 EOH *
DTRC-410 9 18 1.11
DTRC-411 15 3 0.81
21 3 0.99
DTRC-412 3 15 0.65
DTRC-413 3 6 0.54
12 3 0.65
18 3 0.7
Or 3 18 0.54
DTRC-414 3 3 0.86
DTRC-416 0 6 0.6
12 3 0.5
24 3 0.59
DTRC-417 0 6 0.59
DTRC-419 6 9 0.71
DTRC-420 18 9 0.87
* EOH means end-of-hole
** "or" indicates an alternative interpretation, usually the average of a
longer interval
*** Incl. Means a zone of high grade material included with a broader zone of
mineralisation
Table B: Cobalt intersections for drill holes in the resource upgrade programme
Drill Hole From Intersection Grade (% Cobalt) Comment
(metres) (metres)
DTRC-345 0 3 0.05
DTRC-365 33 9 0.08
DTRC-366 0 6 0.12
15 6 0.09
33 3 0.10
DTRC-367 9 3 0.07
DTRC-374 0 3 0.05
DTRC-375 0 6 0.06
DTRC-376 0 6 0.09
DTRC-377 9 3 0.05
27 3 0.08
DTRC-386 27 3 0.05
DTRC-390 3 9 0.12
DTRC-394 6 3 0.05
DTRC-397 0 6 0.07
DTRC-403 0 3 0.07
DTRC-407 0 6 0.14
Qualified Person
Information in this report relating to exploration results is based on data
reviewed by Mr John McDonald BSc, CGeol, FGS, Country Manager for African Eagle
and is Chartered Geologist who has more than 34 years of relevant experience in
mineral exploration, and is a Qualified Person under AIM rules. Mr McDonald has
reviewed and 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 http://africaneagle.co.uk/dutwa-
glossary.asp
About African Eagle
African Eagle Resources plc is a mining explorer and developer with development
projects in Tanzania and Zambia. The Company`s flagship project is the Dutwa
Nickel project in Tanzania located about 25km south of Lake Victoria and 110km
east of Mwanza within greenstone gold belts which host many of Tanzania`s
operating and developing gold mines. The Company is quoted on the AIM market of
the London Stock Exchange (AIM: AFE) and on the AltX of the Johannesburg Stock
Exchange (AltX: AEA).
For further information, please visit www.africaneagle.co.uk or contact:
African Eagle Resources plc
Trevor A. Moss (CEO)
Alex Buck
+44 20 7248 6059
Canaccord Genuity Limited (NOMAD)
Rob Collins or Andrew Chubb
+ 44 20 7523 8000
Ocean Equities Limited (Joint Broker)
Guy Wilkes
+44 20 7786 4370
Russell & Associates, Johannesburg
Charmane Russell or Marion Brower
+27 11 880 3924
Sponsor
Merchantec Capital
Date: 14/06/2012 09:06:01 Produced by the JSE SENS Department.
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