SouthernEra's Koumba Gold Project

SouthernEra's Koumba Gold Project Returns Positive Results

 

    Shares Issued and Outstanding: 74,499,193

    TSX: SUF

    AIM: SRE

 

    TORONTO, March 4 /CNW/ - SouthernEra Resources Limited today announced

encouraging gold results from the initial phase of drilling that tested a gold

in soil geochemical anomaly, located to the west of the main Mainou Vein gold

mineralized trend on the Koumba gold project, Gabon, where SouthernEra has a

95% interest. The first phase drilling program is progressing as planned and

is currently focused on testing gold in soil anomalies that occur within the

Mainou Vein gold mineralized trend.

    The initial diamond core drilling program of selected gold in soil target

areas commenced in November 2003 with the main objective being to determine

the nature of the geological units in the area and to gain a better

understanding of the gold system below the oxide zone. The drilling program

paused over the December holiday with two holes, DDH-KB5 and DDH-KB6,

completed and the third hole, DDH-KB7, still in progress. The program

recommenced at the end of January 2004 following the rainy season and drill

hole DDH-KB7 was completed. Holes DDH-KB5 (dip -45 degrees end of hole 190

meters), DDH-KB6 (dip -60 degrees end of hole 250.7 meters) and DDH-KB7 (dip -

45 degrees end of hole 248 meters) were located to test the 450 meter wide

TRV-2-Trench-B geochemical and gold grain count in soil anomaly (see news

release, October 27, 2003) that is coincident with an airborne radiometric

anomaly located within granitic rocks that are marginal to the north northwest

trending volcano-sedimentary sequence that hosts the Mainou Vein gold

mineralized trend. The TRV-2-Trench-B gold in soil anomaly is located

1.45 kilometers to the west of the Mainou Vein gold mineralized trend and is

not part of the Mainou Vein trend. The TRV-2-Trench-B gold anomaly was

selected to be tested instead of the Mainou gold system during this time due

to easier access to the TRV-2-B anomaly area during the intense rain season

over December and January. The three drill holes intersected altered granitic

rock with disseminated trace to moderate amounts of pyrite and pyrrhotite.

    Hole DDH-KB5 was sampled from top to bottom and Hole DDH-KB7 was sampled

from the top to only 102.9 meters as the drilling of the hole was still in

progress at the time of sampling. The core samples were assayed at SGS

Lakefield Research Africa (Pty) Limited in South Africa by the metallic

sieving/fire assay method. Drill hole DDH-KB7 returned 2.11 grams per tonne

gold over 4.0 meters or 3.40 grams per tonne gold over 2.0 meters with further

auriferous zones as tabulated below. Drill hole DDH-KB5's highest assay is

0.72 grams per tonne gold over 2.0 meters.

 

    -------------------------------------------------------------------------

    Hole No.   Coordinates  Inclination     From      To     Interval    Au

                             (degrees)    (meters) (meters)  (meters)   (g/t)

    -------------------------------------------------------------------------

    DDHKB7       684976E        -45         57.0     68.2      11.2     0.32

                9918797N                    69.3     85.9      16.6     0.40

                                            95.7     99.7       4.0     2.11

                                         including

                                            97.7     99.7       2.0     3.40

    -------------------------------------------------------------------------

 

    Following the completion of drill hole DDH-KB7 on gold anomaly       

TRV-2-Trench-B and the onset of the drier season, the drill was moved to test

SouthernEra's highest priority gold target below and in the vicinity of the

past underground workings within the Mainou Vein gold mineralized trend. Hole

DDH-KB3 was collared approximately 140 meters north of the Mainou Vein adit

and drilled at an inclination of -45 degrees to a core length of 302 meters.

The drill was then moved 375 meters to the northwest of DDH-KB3 to test a 

400-meter wide geochemical and gold grain soil anomaly situated along strike

of the Mainou Vein gold trend.

    A fence of four drill holes is currently testing the gold anomaly. To

date two of the four holes have been completed, hole DDH-KB9 (dip -45 degrees

end of hole 192 meters) and DDH-KB11 (dip -45 degrees end of hole 190 meters),

with the third hole DDH-KB10 (dip 45 degrees) still in progress. All of the

drill holes (DDH-KB3, -KB9 and -KB11) have intersected the main Mainou Vein

gold trend that consists of intercalated quartzite and greywacke, and

greenstone sequences, including numerous quartz veins, with zones that are

sheared and sericitized with multiple broad sections containing trace to

appreciable amounts of pyrite and pyrrhotite with minor chalcopyrite. The core

from the Mainou gold trend is currently being sampled to be sent for analyses.

    SouthernEra is pleased with the positive gold results on the early stage

Koumba gold project and is encouraged with the nature of mineralisation

encountered in the current drilling within the Mainou Vein gold trend. The

completion of the initial phase drilling program during March on the Mainou

trend will provide information to decide on an appropriate drilling strategy

to maximise the potential of the Koumba gold project.

 

    SouthernEra Resources is an independent producer of platinum group metals

and diamonds. The company also has an extensive PGM, gold and diamond

exploration program. The common shares are listed on the Toronto Stock

Exchange and the London Stock Exchange's AIM market.

 

    For further information: PLEASE CONTACT SouthernEra Resources Limited,

Dr. Sally Eyre, Vice President Corporate Affairs, Telephone: [phone],

Fax: [phone], E-mail: inbox(at)southernera.com, www.southernera.com

    (SRE SUF.)