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Real-Time news about Afriore (London Stock Exchange): 0 recent articles
|chelseagirl: email alert from http://www.lemminginvestor.com
i think they are going to cover the company in more deatil.
AfriOre , (shares closed at 225p yesterday, and opened up sharply as we wrote to 239p) registered in Tortola, British Virgin Islands, and capitalised at £121m,after the first 7% mark up on opening of the market this morning, acquires, explores and is developing gold and platinum projects in Africa.
First resource estimates for the Akanani Platinum Project on the Northern Limb of South Africa's Bushveld Complex have been presented today. - prepared by Snowden - Mining Industry Consultants ("Snowden"), an international minerals consultancy group, independent of AfriOre, and is based on the results of 17 diamond drill holes at a nominal 500 x 500 metre ("m") spacing within a 329 hectare ("ha") area.
An initial inferred mineral resource estimate for the Akanani Platinum Project ("Akanani"), in South Africa's Bushveld Complex, of 183.0 Mt at a grade of 4.5 g/t PGM (platinum, palladium, rhodium plus gold (collectively "PGM (4E)"), which equates to 26.4 million ounces of PGMs (4E).
This is by any standards a large and very valuable resource Yesterday < platinum climbed to a record high $1,236.50 at the same time as gold < prices breached $700 for the first time in 25 and a half years
............more later if possible.........
The share price chart below shows 98%/pa growth in a rapid climb during the drilling period, as consecutive results were published almost monthly
All 22 of the holes drilled and assayed on the project area have intersected wide zones of PGM mineralization within the upper zone of the Platreef unit and these latest drilling results confirm the persistence of this zone of mineralization over at least 6,500 metres of strike and up to 1,300 metres, on plan, in a dip direction.
Well-developed mineralization near the upper part of the Platreef unit returned 3.41g/t platinum + palladium + rhodium + gold ('4E')over a down-the-hole interval of 7.43 metres, including a higher grade zone of 3.43 metres at a grade of 5.33g/t 4E
13.90 metres at a grade of 5.91g/t 4E (platinum + palladium + rhodium + gold) including a higher grade zone of 7.00 metres at a grade of 7.27g/t 4E. The positive results for drill holes ZF18 and ZF27 far exceed the minimum exploration target parameters set by AfriOre for the project and confirm the indicated potential of the southern priority area, which was initially recognized in the drilling of the preliminary holes in this area. The broad zone of mineralization, with higher grades towards the upper contact, which was intersected in these drill holes, is consistent with the model developed over the past year for the Platreef throughout the Akanani project. The comparatively high nickel and copper values intersected, particularly in drill hole ZF27, further enhance the potential of this wide zone of mineralization at Q3 results published 13 Jan|
Afriore share price data is direct from the London Stock Exchange