| Tue 23 Jan 2007, 9:00 | | LON - Lonmin - New PGM mineralisation and drill re |
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LON
LOLMI
LON - Lonmin - New PGM mineralisation and drill results from Sudbury PGM Joint
Venture at Capre
Lonmin Plc
(Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN: GB0031192486
("Lonmin")
Lonmin PLC
New PGM mineralisation and drill results from Sudbury PGM Joint Venture at Capre
Lonmin is pleased to announce the discovery of a new zone of significant low
sulphide high PGM mineralisation on the Capre property, see Figure 1, one of six
properties which comprise the previously announced PGM joint venture with CVRD
Inco Limited in Canada`s Sudbury Basin.
The mineralisation has been intersected in 10 holes drilled on a south plunging
weak Titan IP anomaly generated by a surface geophysical survey carried out in
February 2006. The broad zone of mineralisation defined by drilling to date
extends from a depth of 150 metres to 300 metres, has a strike length of 100
metres and plunges to the south at 45-55 degrees. The extent of the
mineralisation has been further approximated by the use of downhole geophysics,
which has identified conductive zones characterised by chalcopyrite veining
within the larger mineralised system. Significant quantities of PGM
mineralisation have also been found in disseminated mineralisation associated
with discontinuous massive sulphide veins and as separate zones with
chalcopyrite stringers and joint fillings. Drilling is continuing to determine
the extent of both types of mineralisation.
Ian Farmer, Chief Strategic Officer of Lonmin commented:
"We are very pleased to announce this new discovery on the Capre property which,
along with results we are achieving from other properties, confirms the
excellent potential of the footwall of the Sudbury Basin to host significant PGM
mineralisation. We will continue to work to build towards a critical mass of
resources that would support a viable PGM mining and processing operation."
Figure 1 Map of the Capre Property and drill hole locations.
The assay results received to date are shown in Table 1.
Core True Grade
Hole From To length Thickness
Number m m (m) (m)
Pt-Pd-Pt Pd Au % Ni % Cu
Au g/t g/t g/t
g/t
LM0114-0 210.7 254.5 43.8 35.0 0.81 0.35 0.33 0.13 0.03 0.30
Including 210.7 211.6 0.9 0.7 18.47 4.87 8.67 4.92 0.69 11.41
LM0115-0 255.6 327.0 71.4 57.1 3.06 1.64 1.16 0.26 0.20 0.22
Including 316.0 327.0 11.0 8.8 10.96 6.39 4.00 0.57 0.05 0.17
LM0116-0 267.6 365.5 97.6 75.0 2.04 1.09 0.76 0.19 0.10 0.49
Including 267.6 270.1 2.5 1.9 10.75 9.34 1.05 0.39 0.26 1.16
Including 280.6 295.0 14.4 10.9 4.80 1.98 2.24 0.58 0.41 2.48
LM0117-0 249.5 335.9 54.2 43.9 1.48 0.59 0.75 0.13 0.10 0.13
Including 266.1 271.2 5.1 4.1 14.80 5.84 7.63 1.33 0.70 0.71
LM0118-0 Trace
LM0119-0 252.8 292.9 40.1 40.1 1.19 0.45 0.64 0.10 0.08 0.58
Including 263.0 266.8 3.8 3.8 3.17 1.22 1.71 0.24 0.23 3.08
Including 275.6 279.6 4.0 4.0 5.20 1.38 3.30 0.53 0.16 1.55
LM0120-0 348.1 389.7 41.6 41.6 3.34 1.38 1.56 0.41 0.20 1.78
Including 348.1 351.7 3.6 3.6 24.54 8.28 13.18 3.08 1.86 17.98
LM0121-0 344.3 367.4 23.1 23.1 0.48 0.19 0.23 0.06 0.15 0.29
Including 355.5 357.5 2.1 2.1 1.88 0.61 0.87 0.40 1.16 1.10
LM0122-0 Trace
LM0123-0 187.3 187.5 0.2 0.2 11.38 3.12 6.80 1.46 1.67 3.12
and 190.3 190.5 0.2 0.2 9.93 3.36 3.78 2.79 2.45 3.36
and 201.4 201.7 0.3 0.3 17.38 4.47 12.60 0.31 2.20 4.47
All tabulated assay data has been rounded to two decimal places. Compiled assay
intervals are length weighted. Two additional holes have been drilled for which
complete assay results are pending.
In addition to the drilling on the Capre Property, 3 drill rigs have been
deployed on the Denison, Levack North and McKim properties.
Qualified Persons, Quality Control & Methodology
CVRD Inco Limited, the manager of the joint venture with Lonmin , takes no
responsibility for nor makes any representation or warranty of any kind relating
to the information contained in this news release.
Details of the quality control procedures for these drill results are as
follows: Half core samples are delivered to the ALS Chemex sample preparation
facility in Sudbury, Ontario, where the entire sample is weighed and then
crushed to 70% -10 mesh. ALS Chemex then homogenises the crushed reject by
passing it once through a Jones riffle and then recombines the two halves from
which a 200-250 gram portion is split using the same Jones riffle. The split is
ring pulverised to 85% -200 mesh from which a 100 gram split is sent to their
analytical facilities in Vancouver, British Columbia.
All of the samples with sulphide contents greater than 10% are analysed by their
ME-ICP81 (formerly A6 procedure) for Cu, Ni, Co, Fe, S, As, Pb and Zn (0.2 grams
of sample are fused with 2.6 grams of Na2O2 in zirconium crucibles), for Au, Pt
and Pd by fire assay/ICP (PGM-ICP23) and for low-level As, Pb and Ag by nitric
aqua regia digestion/AAS (AA45). All three procedures are ISO 9002 certified.
Results, which exceed the upper limit of the procedures, are redone by an
appropriate assay method for the element and level of concentration.
Samples with sulphide contents of less than 10% are submitted for the ME-ICP61+
PGM-ICP23 procedure. This package is a total acid digestion that assays for Au,
Pt, Pd, Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, K, Mg, Mn, Mo, Na, Ni,
P, Pb, S, Sb, Sr, Ti, V, W and Zn. A prepared sample (0.250 gram) is digested
with perchloric, nitric and hydrofluoric acids. The sample is then further
digested in a small amount of hydrochloric acid. This solution is analysed by
inductively coupled plasma-atomic emission spectrometry and the results are
corrected for spectral inter element interferences.
About the joint venture:
Lonmin Plc entered into the joint venture with CVRD Inco Limited in January
2005 exploring for low sulphide high PGE-Au mineralisation on six Inco
properties: Levack North, Trillabelle, Denison, McKim, Capre and Wisner. The
joint venture has targeted a type of PGE-Au mineralisation recently identified
in Sudbury Ontario, where high grades of PGE`s are associated with low levels of
copper-nickel sulphides ("low sulphide high PGE-Au mineralisation"). This type
of mineralisation has become an increasingly higher profile exploration target
in the Sudbury Basin and is being explored, evaluated and in some instances
mined by a number of companies.
Forward-Looking Statements
Any forward looking statements made in this document represent management`s
judgment as to what may occur in the future. However, the group`s actual results
for the current and future fiscal periods and corporate developments will depend
on a number of economic, competitive and other factors including some which will
be outside the control of the group. Such factors could cause the group`s actual
results for current and future periods to differ materially from those expressed
in any forward looking statements made in this document. Unless otherwise
required by applicable law, accounting standards or regulation, we do not
undertake any obligation to update or revise any forward-looking statements,
whether as a result of new information, future developments or otherwise.
Enquiries:
Alex Shorland-Ball +44 (0)207 201 6060
Vice President,
Investor Relations & Communications
23 January 2007
ENDS
Date: 23/01/2007 09:00:09 Produced by the JSE SENS Department.
