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Kiwara PLC (KIW)

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Thursday 21 May, 2009

Kiwara PLC

Kalumbila Drilling Update

RNS Number : 6067S
Kiwara PLC
21 May 2009
 




JSE - KWR

AIM - KIW

ISIN - GB0007702953


21st May 2009

Kiwara plc


('Kiwara' or the 'Company')


Drilling Update - Further suite of assay results confirm significant copper mineralisation over extensive strike and dip at Kalumbila



The Board of Kiwara, the Zambian based exploration Company, is very pleased to announce further excellent results from its ongoing drilling programme on the Kalumbila base metals target. 



Highlights:

  • Four Bore holes, L40, L42, L53 and L54 have intersections in excess of 0.80% Cu over widths of over 20m :- 

  • Bore hole L40 includes 0.91% Cu over 23.20m from 52.27m; Bore hole L42 includes 1.00% Cu over 31.71m from 122m; Bore hole L53 includes 0.88% Cu over 20.82m from 47.30m and Bore hole L54 includes 0.89% Cu over 34.73m from 146.27m;

  • Bore hole L53, the most south-westerly reported, is 8.2Km along strike from historic nickel and copper zone, has a close to surface intersection, assayed 0.68% Cu over 43.98m from 25m and includes 0.88% Cu over 20.82m from 47.30m; and 1.31% Cu over 6.30m from 52.32m;

  • Bore holes L39, L42 and L48 also report high grade cobalt mineralisation. 


Colin Bird (Chairman) said: 'The Company is delighted with these results, which together with those previously reported, continue to extend strike and geological continuity of the Kalumbila copper project. The presence of high cobalt grades in three of these bore holes provides valuable credits. The near surface mineralisation in five of the reported borehole results proves the potential for a large open pit. The Company intends to aggressively pursue its exploration programme at Kalumbila with the objective of developing a resource and proceeding to feasibility study.'



Selected Results of L39-L44, L48, L50, L53-L54

Applying a 0.30% Cu cut-off grade, the selected length weighted mineralised intersections for each of the ten bore holes are summarised in the table below, which also includes the relative position, dip and orientation of each bore hole collar:


B/H

Dip/

Orientation

Km west

on Strike from NE

Depth 

from (m)

Depth 

to (m) 

Intersection

(m)

Copper*

%

Cobalt*

%

L39

-70/180o

5.6

78.99

89.96

10.97

0.58





115.00

129.00

14.00

0.65





177.00

183.71

6.71

0.71


including



182.15

183.21

1.06


0.12









L40

-70/180o

6.0

14.83

17.00

2.17

0.51





40.40

75.47

35.07

0.79


Including



52.27

75.47

23.20

0.91





116.37

119.26

2.89

0.76





162.22

166.71

4.49

0.68










L41

-70/180o

6.6

46.00

54.46

8.46

0.55


Including



50.95

54.46

3.51

0.85










L42

-70/180o

6.4

62.52

92.45

29.93

0.55


Including



71.86

80.63

8.77


0.14

Including



83.23

91.21

7.98

0.91





122.00

153.71

31.71

1.00





155.60

158.73

3.13


0.10









L43

-70/180o


52.23

76.42

24.19

0.69


Including



61.60

65.53

3.93

0.89





124.60

130.00

5.40

0.67










L44

-75/180o

3.4

104.47

106.50

2.03

0.68





130.17

134.25

4.08

0.53


Including



130.17

132.21

2.04

0.69










L48

-70/180o

7.2

6.00

9.22

3.22

0.39





16.37

24.50

8.13

0.43


Including



151.55

156.19

4.64


0.11









L50

-70/180o

7.0

65.34

86.40

21.06

0.40





117.00

131.70

14.70

0.44


Including



118.35

121.40

3.05

0.68










L53

-70/120o

8.2

25.00

68.98

43.98

0.68


Including



25.00

30.00

5.00

1.28


Including



47.30

68.12

20.82

0.88


Including



52.32

58.62

6.30

1.31










L54

-70/180o

6.8

53.65

123.24

69.59

0.65


Including



68.70

74.23

5.53

1.00


Including



101.97

112.00

10.03

0.98





146.27

181.00

34.73

0.89


Including



146.27

151.54

5.27

1.20


Including



166.73

178.25

11.52

1.13


* weighted average


The ten bore holes announced extend strike by 1.8Km; L53 establishes that Kalumbila remains open on strike to the south-west, which correlates with soil geo-chemistry. Strike length of mineralization identified by the Company's drilling has extended westwards giving a total current strike of 8.2Km.


These drill core assay results correlate well with the Company's previously reported results. 


All identified mineralisation occurs within a graphitic phyllite unit associated with the Lower Roan, which Kiwara correlates as being equivalent to the 'Copper-belt ore shale'. 


Additional borehole sample assay results are awaited.


Alfred H Knight Ltd of Kitwe, Zambia and SGS Inspection Services Ltd of Kalulushi, Zambia - both internationally accredited laboratories - carried out the assays of the core samples from these drill holes. 


This release has been approved by Colin Bird, who is Executive Chairman of Kiwara, Chartered Engineer and a fellow of The Institute of Materials, Minerals and Mining.


About Kiwara:

Kiwara is an exploration company with a focus on base metals in the Republic of Zambia, which is a major copper producing country.

Kiwara, through its majority owned subsidiary, Kalumbila Minerals, holds Prospecting Licence 267 which is within the Kabompo Dome in North Western Zambia, a geologically complex antiformal feature, which contains a number of base metal and uranium targets. This is within the area considered to be the western extension of the Copperbelt, an increasingly significant mining area that contains the recently developed Kansanshi and Lumwana copper mines. 


For further information, please contact:

 

Kiwara Plc

Colin Bird, Chairman                                                                  Tel: +44 (0)207 581 4477

Peter Vivian-Neal, Chief Executive Officer                                 Tel: +260 (0) 211 293899


Sasfin, Johannesburg

Brian Christie, Corporate Finance                                              Tel: +27 (0) 11 809 7511


FinnCap, London

Mathew Robinson, Corporate Finance                                       Tel: +44 (0) 20 7600 1658


Bishopsgate Communications Ltd                                             Tel: +44 (0)20 7562 3350

Suzanne Johnson-Walsh


This information is provided by RNS
The company news service from the London Stock Exchange
 
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