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Kiwara PLC (KIW)

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Wednesday 26 August, 2009

Kiwara PLC

Kawako drilling update

RNS Number : 0218Y
Kiwara PLC
26 August 2009
 



JSE - KWR

AIM - KIW

ISIN - GB0007702953



26 August 2009


Kiwara plc


('Kiwara' or the 'Company')


Kiwara intersects further high grade nickel mineralisation at Kawako


The board of Kiwara, the Zambian based exploration Company, is very pleased to announce further results of its follow-up drill programme at Kawako, which continue to intersect high grade nickel.



Highlights:


  • Two further boreholes, KW4 and KW5 drilled on the Kawako nickel target;

  • Borehole ('B/H') KW4 intersected 12.22m grading 3.03%Ni from 87.50m; this intersection includes 7.30m grading 4.56%Ni from 91.95m; 

  • KW4 is 300m south from KW2;

  • KW4 has a further intersection of 9.62m grading 0.94%Ni from 128.38m; 

  • KW5 intersected 3m grading 0.51% Ni from 173m.



Colin Bird (Chairman) says: 'We are very pleased with the high grade results from KW4. We continue to drill the target with the mission of extending strike and increasing tonnage.'


Background:

On 18th August 2009 the Company announced the first results of its follow-up drilling programme at Kawako where in 2008, two boreholes, 900m apart, intersected high grade nickel mineralisation hosted in schists on the anticipated margin of a historically identified carbonaceous shale unit and on a Ni soil anomaly.


Kawako Drilling Results:

B/Hs KW4 and KW5 are core boreholes drilled vertically. KW4 was drilled 300south from the initial reconnaissance b/h KW2 and 1,052m from KW3, as an 'in-fill' b/h; there is very good correlation between KW4 and the results obtained in KW2, thus suggesting continuity of mineralisation. KW5 was drilled 650m SW of KW2 and west of the perceived strike of the host unit to determine dip and lithological continuity.


The selected length weighted mineralised intersections for which a cut-off grade of 0.25%Ni was applied, are summarised in the table below:


B/H


Depth

From (m)

Depth

To (m)

Intersected width (m)

Ni

%

KW4


87.50

99.72

12.22

3.03*


including

91.95

99.26

7.31

4.56*



128.38

138.00

9.62

0.94*



151.00

159.50

8.50

0.29*

KW5


173.00

176.00

3.00

0.51*

* Weighted average



The assays of the core samples from this borehole were carried out by SGS Inspection Services Ltd, Kalulushi LaboratoryZambia being an internationally accredited laboratory



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. 


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.



For further information, please contact:

 

Kiwara Plc                                                             Tel: +44 (0)207 581 4477

Colin Bird, Chairman

 

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

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


Bishopsgate Communications Ltd

Michael Kinirons                                                   Tel: +44 (0)20 7562 3359



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