ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

NRRP North River

2.75
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
North River LSE:NRRP London Ordinary Share GB00BDDRJJ03 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.75 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

North River Resources Plc Resource expansion drilling programme completed (5113R)

12/12/2016 7:00am

UK Regulatory


North River (LSE:NRRP)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more North River Charts.

TIDMNRRP

RNS Number : 5113R

North River Resources Plc

12 December 2016

North River Resources plc / Ticker: NRRP / Index: AIM / Sector: Mining

North River Resources plc ("North River" or the "Company")

Resource expansion drilling programme completed

North River Resources plc, the AIM quoted exploration company, announces drill results and an assessment of its recently completed underground diamond drilling programme at the Namib Project in Namibia.

Highlights

   *   A total of 4,142 metres of resource drilling completed. 

* A number of outstanding intersections continue to support strong resource upside at Namib, although overall results are not expected to grow the Indicated Mineral Resources at this stage, pending further drilling.

* Drill results indicate that refinement of the 3D geological and structural model is required prior to undertaking further drilling and that future resource development targeting is increasingly dependent on accessing additional underground drill positions as the mine is developed.

* Further to the interim drilling results announced on the 21 March and 26 April 2016, an additional 32 holes, totalling 2,959 metres are being reported in this RNS. Significant intersections of mineralisation not previously announced, include:

o NLDD072: 3.1m (true width of 2 metres) at 8.2% zinc, 28.4m (true width of 7 metres) at 33.2% zinc and 7.9m (true width of 3 metres) at 30.6% zinc

o NLDD083: 3.5m (true width of 2.5 metres) at 22.0% zinc and 9.7m (true width of 5 metres) at 18.9% zinc

o NLDDK082: 6.6m (true width of 4 metres) at 20.3% zinc and 10.2% lead

o NLDDK087: 4.3m (true width of 3 metres) at 16.4% zinc

* The Company continues discussions with the Ministry of Mines and Energy on the grant of the Mining Licence for the Namib Project and remains hopeful that this will be forthcoming in the near term.

* Cash preservation remains a priority and the Company has further reduced corporate overheads and put next step resource development and drilling plans on hold until there is clarity on the timing of moving the project forward to a construction decision.

Details of the completed drilling programme

The drilling programme to test extensions at depth in the North and South orebodies of the Namib resource, which commenced in January 2015, has now been completed. A total of 4,142 metres were drilled, using a contracted Diamec rig together with the Company's own Kempe drill.

The announcement of additional very encouraging intersections continues to support the strong resource upside at Namib and follows previously announced holes from this campaign, including NLDD067 with 57.1 metres (true width of 8.5 metres) at 28.5% zinc, and NLDD069 with 35.7 metres (true width of 9.0 metres) at 33.8% zinc. The overall results of this programme have however been sporadic and will not at this point translate into a significant increase in the Indicated Mineral Resource category to underpin an extension to mine life. The Company has determined that additional infill and extension drilling is certainly warranted to further delineate mineralised zones to the level of confidence required to support Indicated Mineral Resources, but that this should now only be undertaken following further interpretation of the recently completed drilling, which will include an update to the geological and structural model in the light of new data. This drilling programme has highlighted a greater structural complexity that needs to be better understood in order to improve future extension drilling targeting, and that will require ongoing attention if and when the project is taken forward into construction and mining operations.

The geological framework model for the deposit continues to indicate there is no reason to suggest that mineralisation does not continue at depth, but these drilling results show that zone targeting and delineation remains challenging due to the sub-vertical lode geometry and limits of available drilling positions from which to optimise intersection angles. The Company remains confident in the upside of the Mineral Resource, as indicated by both the deep drilling intersections achieved during this latest drilling campaign, and previous down-hole electromagnetic surveying work (see press release of 6 September 2013) projecting potential mineralisation conductors to depths as far as 700 metres below surface. In the short term the Company has put drilling on hold until there is clarity on the timing of moving the project forward to a construction decision, and will concentrate on additional data re-analysis and collection from available drill core, review and interpretation of recent drilling data, and refinements to the 3D model using all available information to improve understanding of the geological structure.

Mining licence and ongoing development

"The Company continues to discuss the granting of the mining licence for the Namib Project with the Ministry of Mines and Energy, and is in the process of providing further detail to support the proposal submitted to the Ministry in April 2016 on meeting the new Mining Licence conditions.

Cash preservation remains a priority and the Company has further reduced corporate overheads and put next step resource development and drilling plans on hold until there is clarity on the timing of moving the project forward to a construction decision. A lower run rate level of expenditure going into 2017 will extend the available timeframe for the Company to firm up a development plan for the Namib Project or redefine the corporate strategy.

Competent Persons Statement

The information in this release that relates to Exploration Results is based on information compiled by Mr. Galen White, Principal Geologist of CSA Global (UK) Ltd and a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr White has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. White consents to the inclusion in this release, of matters based on his information, in the form and context which it appears.

North River CEO James Beams commented, "These drill results provide further confidence in the potential to grow the Namib mineral resource but at the same time have highlighted the challenges to achieving a step change increase in resource until a construction decision is taken and the mine is further developed during ongoing operations".

Figure 1: Long section of the Mine Looking North East

http://www.rns-pdf.londonstockexchange.com/rns/5113R_-2016-12-10.pdf

Table 1: Significant intercepts table

http://www.rns-pdf.londonstockexchange.com/rns/5113R_1-2016-12-10.pdf

* Represents holes forming part of this drilling campaign that have been reported previously in the interim announcements of 21 March 2016 and 26 April 2016

Significant Intercepts are based on the following criteria:

   --     Minimum intercept length: 3 metres 
   --     Maximum internal waste: 1 metres 
   --     Cutoff Lead/zinc combined: 1 % 

-- True thickness lengths were obtained by measuring intercepts manually from a perpendicular-to-dip sectional review. Lengths are approximate due to the variable nature of the lodes.

Appendix: Quality Assurance Quality Control of assay results

Diamond core samples were half core samples and are selectively sampled based on observable sulphide mineralisation. Approximately one metre of waste is sampled either side of mineralisation.

Samples were prepared and analysed at Bureau Veritas Namibia (Swakopmund). Iron, lead and zinc samples were fused with sodium peroxide, dissolved in dilute HCL and analysed by Inductively Coupled Plasma (ICP) Optical Emission Spectrometry. Silver samples were dissolved in a multi acid digest and assayed by inductively Coupled Plasma (ICP) Optical Emission Spectrometry.

The Quality Assurance Quality Control (QAQC) programme included blanks and certified reference materials (CRMs) from African Mineral Standards (AMIS) in Johannesburg, South Africa and duplicate samples. QAQC results were monitored and where issues were noted, the laboratory was requested to re-assay the affected samples.

During the QAQC analyses for the results reported in Table 1 above, sporadic failures in the zinc, lead and silver CRMs and blanks were noted. The lab was requested to re-assay these affected QC sample as well as ten samples either side for the failed elements. Failures were either resolved or understood after re-assay.

**S**

For further information please visit www.northriverresources.com or contact:

 
James Beams              North River Resources  Tel: +44 (0) 
                          Plc                    20 7025 7047 
Andrew Emmott / Ritchie  Strand Hanson Limited  Tel: +44 (0) 
 Balmer                                          20 7409 3494 
Jonathan Williams /      RFC Ambrian Limited    Tel: +44 (0) 
 Kim Eckhof                                      20 3440 6800 
 
 

About North River Resources: North River Resources (AIM ticker: NRR) is a multi-asset mining exploration and development company with projects located in Namibia and Mozambique. The Company's primary focus is bringing its flagship Namib project into production. The Namib project is the restart of a high grade zinc-lead underground mine located in Namibia.

JORC Code, 2012 Edition - Table 1 - Namib Lead - Reporting of Exploration Results

December 2016

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

 
 Criteria       JORC Code explanation                                         Commentary 
 Sampling 
  techniques     *    Nature and quality of sampling (e.g. cut channels,          *    Since May 2016 20 Diamec DD (diamond) for 2,386 m and 
                      random chips, or specific specialised industry                   12 Kempe DD (diamond) for 574 m drilled. Assays have 
                      standard measurement tools appropriate to the                    been received for 23 holes, 9 holes not sampled as no 
                      minerals under investigation, such as down hole gamma            mineralisation was intersected. 
                      sondes, or handheld XRF instruments, etc.). These 
                      examples should not be taken as limiting the broad 
                      meaning of sampling.                                        *    Underground holes are often drilled in fans from 
                                                                                       defined cuddies, due to drill rig accommodation and 
                                                                                       access issues. 
                 *    Include reference to measures taken to ensure sample 
                      representivity and the appropriate calibration of any 
                      measurement tools or systems used.                          *    Sampling was selective over mineralized intervals and 
                                                                                       samples were collected at 1 m intervals or to 
                                                                                       geological boundaries, from which an average of 1.6 - 
                 *    Aspects of the determination of mineralisation that              1.8 kg of sample was collected for analysis. 
                      are Material to the Public Report. 
 
                                                                                  *    NRR Standard Operating Procedures (SOP) were followed 
                 *    In cases where 'industry standard' work has been done            to ensure samples are representative. 
                      this would be relatively simple (e.g. 'reverse 
                      circulation drilling was used to obtain 1 m samples 
                      from which 3 kg was pulverised to produce a 30 g            *    Holes are selectively sampled based on observable 
                      charge for fire assay'). In other cases more                     sulphide mineralisation. Samples are sent for 
                      explanation may be required, such as where there is              chemical assay. 
                      coarse gold that has inherent sampling problems. 
                      Unusual commodities or mineralisation types (e.g. 
                      submarine nodules) may warrant disclosure of detailed       *    Approximately 1m of apparent waste is sampled either 
                      information.                                                     side of mineralisation. 
 Drilling 
  techniques     *    Drill type (e.g. core, reverse circulation, open-hole        *    DD (NQ and BQ for Diamec holes), BX (40mm, Kempe 
                      hammer, rotary air blast, auger, Bangka, sonic, etc.)             Drilling); 
                      and details (e.g. core diameter, triple or standard 
                      tube, depth of diamond tails, face-sampling bit or              HTYPE       No. Holes   Total Depth 
                      other type, whether core is oriented and if so, by                                          (m) 
                      what method, etc.).                                         -------------  ----------  ------------ 
                                                                                   DD - Diamec       20          2,386 
                                                                                  -------------  ----------  ------------ 
                                                                                    DD - Kempe       12           574 
                                                                                  -------------  ----------  ------------ 
                                                                                      Grand 
                                                                                       Total         32          2,959 
                                                                                  -------------  ----------  ------------ 
 
                                                                                   *    Core is not orientated 
 Drill 
  sample         *    Method of recording and assessing core and chip           *    Recovery data was collected for drill core and 
  recovery            sample recoveries and results assessed.                        reviewed for the 2014 MRE. Conclusions were that core 
                                                                                     recovery was excellent, averaging 95% recovery within 
                                                                                     the mineralisation. Recovery dropped in breccias to 
                 *    Measures taken to maximise sample recovery and ensure          76%, however, within the mineralised lodes, recovery 
                      representative nature of the samples.                          was over 90%. Recoveries from recent drilling are in 
                                                                                     line with previous analysis and 9 holes (NLDD075, 
                                                                                     NLDD075A, NLDD088 and NLDDK084 to NLDDK089) being 
                 *    Whether a relationship exists between sample recovery          reported do not have recovery data. These holes 
                      and grade and whether sample bias may have occurred            contained no mineralised intercepts. 
                      due to preferential loss/gain of fine/coarse 
                      material. 
                                                                                *    The relationship between recovery and grade of all 
                                                                                     available diamond drilling was investigated during 
                                                                                     the last MRE update, and no sample bias was observed. 
                                                                                     An updated review in this area should be completed 
                                                                                     during future MRE update work in due course. 
                                                                                     Deviation from the conclusions previously drawn is 
                                                                                     not expected to occur. 
 
 
                                                                                *    Most the mineralised rock masses drilled are in 
                                                                                     competent rock and new drilling is predominantly 
                                                                                     underground. Recovery is not considered an issue as 
                                                                                     regards sample representivity. 
 Logging 
                 *    Whether core and chip samples have been geologically      *    Logging was undertaken (or is in process) for all 
                      and geotechnically logged to a level of detail to              holes in the Exploration Update using standardised 
                      support appropriate Mineral Resource estimation,               logging codes which describe and summarise the 
                      mining studies and metallurgical studies.                      material drilled, its geological, mineralisation and 
                                                                                     structural characteristics and basic geotechnical 
                                                                                     characteristics. 
                 *    Whether logging is qualitative or quantitative in 
                      nature. Core (or costean, channel, etc.) photography. 
                                                                                *    Core photography is undertaken for all drilling. 
 
                 *    The total length and percentage of the relevant 
                      intersections logged.                                     *    Currently five holes in this Exploration Update do 
                                                                                     not have logging data in the database (geological 
                                                                                     review in progress). 
 Sub-sampling 
  techniques      *    If core, whether cut or sawn and whether quarter,        *    Diamond core samples are half core cut with a diamond 
  and sample           half or all core taken.                                       saw along an orientation line to prevent preferential 
  preparation                                                                        sampling of core as described in the SOP. Samples are 
                                                                                     weighed. 
                  *    If non-core, whether riffled, tube sampled, rotary 
                       split, etc. and whether sampled wet or dry. 
                                                                                *    The laboratory splits the coarse crushed samples to 
                                                                                     obtain duplicate samples which are analysed within 
                  *    For all sample types, the nature, quality and                 the sample batch. 
                       appropriateness of the sample preparation technique. 
 
                                                                                *    The sample sizes are appropriate given the grain size 
                  *    Quality control procedures adopted for all                    of the material 
                       sub-sampling stages to maximise representivity of 
                       samples. 
 
 
                  *    Measures taken to ensure that the sampling is 
                       representative of the in-situ material collected, 
                       including for instance results for field 
                       duplicate/second-half sampling. 
 
 
                  *    Whether sample sizes are appropriate to the grain 
                       size of the material being sampled. 
 Quality 
  of assay       *    The nature, quality and appropriateness of the            *    Samples from the current drill campaign were sent to 
  data and            assaying and laboratory procedures used and whether            Bureau Veritas, Swakopmund for silver, lead, zinc, 
  laboratory          the technique is considered partial or total.                  iron analysis as well as density measurements. 
  tests 
 
                 *    For geophysical tools, spectrometers, handheld XRF        *    Lead, zinc and iron samples were fused with Sodium 
                      instruments, etc., the parameters used in determining          Peroxide and dissolved in dilute Hydrochloric acid 
                      the analysis including instrument make and model,              for analysis by ICP (OES). 
                      reading times, calibrations factors applied and their 
                      derivation, etc. 
                                                                                *    Silver samples were digested with a four-acid digest 
                                                                                     (Hydrofluoric, Nitric, Hydrochloric and Perchloric) 
                 *    Nature of quality control procedures adopted (e.g.             and analysed with an ICP (OES) finish. 
                      standards, blanks, duplicates, external laboratory 
                      checks) and whether acceptable levels of accuracy 
                      (i.e. lack of bias) and precision have been               *    Density measurements are taken by the lab on the half 
                      established.                                                   core samples sent to the lab -Archimedes method. 
 
 
                                                                                *    Blanks and CRMs were inserted in the sample stream on 
                                                                                     site. Duplicates were taken from laboratory coarse 
                                                                                     crush samples. No external checks have been 
                                                                                     undertaken at this stage. 
 
 
                                                                                *    Some CRM failures have been observed (both with the 
                                                                                     North River reference material and the Bureau Veritas 
                                                                                     internal standards (silver). Where failures were 
                                                                                     noted, the failed CRM and ten samples either side 
                                                                                     were re-assayed. Failures were either resolved or 
                                                                                     understood after re-assay. 
 Verification 
 of sampling     *    The verification of significant intersections by            *    No twinned holes have been drilled. 
 and assaying         either independent or alternative company personnel. 
 
                                                                                  *    A site visit by the CP was completed between 23 May 
                 *    The use of twinned holes.                                        and 26 May 2016 whilst drilling and sampling 
                                                                                       activities were being completed. The following 
                                                                                       verification activities were completed; 
                 *    Documentation of primary data, data entry procedures, 
                      data verification, data storage (physical and 
                      electronic) protocols.                                      *    UG inspection to level 5 to observe Kempe drill 
                                                                                       practises (cubby 3). Observed core in holes 82 and 83 
                                                                                       and confirmed the presence of mineralised zones in 
                 *    Discuss any adjustment to assay data.                            hole 82. 
 
 
                                                                                  *    Inspected Adamas rig (broken down at the time of the 
                                                                                       visit) at the end of Level 5. 
 
 
                                                                                  *    Inspected cubby 2 and cited collar positions for 
                                                                                       drilled fan. 
 
 
                                                                                  *    Inspection of historical sample pulps stored on Level 
                                                                                       1.5. Confirmed material not destroyed. 
 
 
                                                                                  *    Inspection of sample pulps at the core farm 
 
 
                                                                                  *    Inspection of core processing facility and review of 
                                                                                       SOP against observations. Logging activity being 
                                                                                       completed at the time of the visit. 
 
 
                                                                                  *    Review of hole NLDD67 containing significant 
                                                                                       mineralised intersection (low angle to core axis). 
 
 
                                                                                  *    Review of hardcopy data sheets related to current 
                                                                                       drilling. 
 
 
                                                                                  *    Review of site safety procedures. 
 
 
                                                                                  *    Lab audit of Bureau Veritas lab in Swakopmund. 
 
 
                                                                                  *    A second site visit was completed by a CSA Senior 
                                                                                       Geologist between 19 July and 23 July 2016 for the 
                                                                                       purposes of; 
 
 
                                                                                 - Review of the geological interpretation 
                                                                                 and 3D geological/ mineralisation 
                                                                                 model. 
                                                                                 - Collaboration with site staff 
                                                                                 and conduct training. 
                                                                                 - Complete further review of data 
                                                                                 collection activities. 
                                                                                 - Make recommendations for additional 
                                                                                 data collection. 
                                                                                 - Assist with defining the focus 
                                                                                 of the remainder of the drill program. 
                                                                                  *    Assay certificates for significant intersections have 
                                                                                       been verified by CSA Global. No other physical 
                                                                                       external verification has taken place. Significant 
                                                                                       intersections are logged by a senior geologist and 
                                                                                       verified by the NRR Geology Manager. 
 
 
                                                                                  *    Data is captured in excel spreadsheets and merged 
                                                                                       into a SQL relational database (hosted by CSA 
                                                                                       Global). 
 
 
                                                                                  *    Procedures are in place, but it is advised that these 
                                                                                       are reviewed and updated to reflect current 
                                                                                       practices. 
 
 
                                                                                  *    No adjustments have been made to the assay data, 
                                                                                       apart from overwriting assay data that failed QAQC, 
                                                                                       which has been re-assayed and QAQC passed. 
 Location 
  of data        *    Accuracy and quality of surveys used to locate drill      *    A surveyed topography of the immediate mine area was 
  points              holes (collar and down-hole surveys), trenches, mine           provided by NRR. The surface topography was surveyed 
                      workings and other locations used in Mineral Resource          and the collar positions of drillholes were also 
                      estimation.                                                    surveyed by NRR using a Leica Robotic Total Station 
                                                                                     TCRA1205, R100. 
 
                 *    Specification of the grid system used. 
                                                                                *    Holes have been surveyed downhole with an Electromind 
                                                                                     Sonde Probe (BDVG42) which measures magnetic 
                 *    Quality and adequacy of topographic control.                   deviation. 
 
 
                                                                                *    Due to the steep to near-vertical nature of the lodes 
                                                                                     downhole surveying is critical to project 
                                                                                     mineralisation intercepts correctly. 
 
 
                                                                                *    The grid system for all data points is WGS84 Zone 
                                                                                     33S. 
 Data spacing 
 and             *    Data spacing for reporting of Exploration Results.        *    Holes in the Northern Extension were drilled on a 15m 
 distribution                                                                        x 40m grid. 
 
                 *    Whether the data spacing and distribution is 
                      sufficient to establish the degree of geological and      *    Data spacing in the South Mine varied. 
                      grade continuity appropriate for the Mineral Resource 
                      and Ore Reserve estimation procedure(s) and 
                      classifications applied.                                  *    No sample compositing has been used. 
 
 
                 *    Whether sample compositing has been applied. 
 Orientation 
 of data         *    Whether the orientation of sampling achieves unbiased     *    All holes were drilled to try and intersect the 
 in relation          sampling of possible structures and the extent to              orebody, though not all are perpendicular due to the 
 to                   which this is known, considering the deposit type.             practical necessity of underground fan drilling. 
 geological 
 structure 
                 *    If the relationship between the drilling orientation      *    Due to the vertical/sub-vertical nature of the lodes 
                      and the orientation of key mineralised structures is           and the limited underground access positions from 
                      considered to have introduced a sampling bias, this            which to drill, drilling can often intersect 
                      should be assessed and reported if material.                   mineralisation at away from the perpendicular, 
                                                                                     resulting in longer than 'true-width' intersections. 
 
 
                                                                                *    Down-plunge targeting is challenging due to the 
                                                                                     steepness and irregularity of the shoots, and 
                                                                                     limitations n positions from which to drill. 
 
 
                                                                                *    Drilled intercepts (and their relationship to true 
                                                                                     widths, and therefore representivity) will be 
                                                                                     critically evaluated during subsequent Mineral 
                                                                                     Resource Estimation update study to address any 
                                                                                     sampling bias that may exist. 
 Sample 
  security        *    The measures taken to ensure sample security.            *    Sample pulps are stored in a locked shed on-site, and 
                                                                                     at Level 1.5 underground, where there is security on 
                                                                                     duty at all times. 
 Audits 
  or reviews      *    The results of any audits or reviews of sampling         *    Data was imported into an SQL database and validated. 
                       techniques and data.                                          QAQC reports were produced and reviewed. Issues were 
                                                                                     sent to the laboratory for comment and where relevant, 
                                                                                     samples were re-assayed. QAQC was reviewed again and 
                                                                                     the database updated. 
 
 
                                                                                *    During the recent site visits by CSA staff in May and 
                                                                                     July 2016, review and auditing of sampling techniques 
                                                                                     and procedures was completed. 
=============  ============================================================  =============================================================== 
 

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

 
 Criteria         JORC Code explanation                                            Commentary 
 Mineral 
  tenement          *    Type, reference name/number, location and ownership         *    NRR announced on the 26 April 2016 that its 100% held 
  and land               including agreements or material issues with third               Namibian subsidiary, Namib Lead & Zinc Mining (Pty) 
  tenure                 parties such as joint ventures, partnerships,                    Limited, has submitted a formal proposal to the 
  status                 overriding royalties, native title interests,                    Namibian Ministry of Mines and Energy ("the 
                         historical sites, wilderness or national park and                Ministry") in respect of its Namib Project mining 
                         environmental settings.                                          license application. The area covered by the Mining 
                                                                                          License application (ML185) is located within the 
                                                                                          Namib Lead and Zinc Mining (Propriety) Limited 100% 
                    *    The security of the tenure held at the time of                   owned EPL2902. As at December 2016 the mining license 
                         reporting along with any known impediments to                    has not been granted and the company remains engaged 
                         obtaining a licence to operate in the area.                      in ongoing dialogue with the Ministry in this regard. 
 Exploration 
  done by           *    Acknowledgment and appraisal of exploration by other        *    Previous drilling on the deposit was completed by 
  other                  parties.                                                         ISCOR in the late 1980's to early 1990's and by 
  parties                                                                                 Kalahari Resources in 2008. 
 Geology 
                    *    Deposit type, geological setting and style of               *    The NLZP is an intrusive-related Zn-Pb-Ag deposit, 
                         mineralisation.                                                  stratabound within the distinctive Mine Marble Unit, 
                                                                                          located within the Karibib Fm. of the Swakop Group. 
 
 
                                                                                     *    The Swakop Group was deposited within the Damaran 
                                                                                          Basin between 770 Ma to 600 Ma and was then 
                                                                                          incorporated into the Central Zone of the Damaran 
                                                                                          orogenic belt at 550-490 Ma. 
 
 
                                                                                     *    Mineralisation post-dates ductile deformation while 
                                                                                          brittle disruption has resulted in overturning in the 
                                                                                          western end of the South Orebody and results in 
                                                                                          greater complexity in the 'Junction Zone'. 
 
 
                                                                                     *    The Zn-Pb-Ag mineralisation with anomalous Cu, Sn and 
                                                                                          In as well as F suggests a granite-related system. No 
                                                                                          causative intrusion has been identified. 
 Drill 
 hole                  *    A summary of all information material to the             *    32 holes are reported, of which 13 had significant 
 Information                understanding of the exploration results including a          intercepts, and 19 did not have significant 
                            tabulation of the following information for all               intercepts. 
                            Material drill holes: 
 
                                                                                     *    Azimuths and Dips vary significantly due to the 
                       *    easting and northing of the drill hole collar                 underground fan drilling of a steeply dipping to 
                                                                                          near-vertical mineralization. 
 
                       *    elevation or RL (Reduced Level - elevation above sea 
                            level in metres) of the drill hole collar                *    Hole lengths ranged between 40.72 to 236.60 m 
                                                                                          (Diamec) and 25.5 to 72 m (Kempe). 
 
                       *    dip and azimuth of the hole 
                                                                                     *    All collars are located within the NLZP and been 
                                                                                          captured using UTM WGS 1984, Zone 33 South. 
                       *    down hole length and interception depth 
 
                                                                                     *    Minimum and maximum positions are displayed below: 
                       *    hole length. 
                                                                                      Min Easting    474981.48 
                                                                                    --------------  ----------- 
                       *    If the exclusion of this information is justified on      Max Easting    475352.83 
                            the basis that the information is not Material and      --------------  ----------- 
                            this exclusion does not detract from the                 Min Northing    7509653.62 
                            understanding of the report, the Competent Person       --------------  ----------- 
                            should clearly explain why this is the case.             Max Northing    7509962.62 
                                                                                    --------------  ----------- 
                                                                                        Min RL         148.54 
                                                                                    --------------  ----------- 
                                                                                        Max RL         174.33 
                                                                                    --------------  ----------- 
 Data 
 aggregation        *    In reporting Exploration Results, weighting averaging         *    Significant Intercepts were calculated on a minimum 
 methods                 techniques, maximum and/or minimum grade truncations               of a 3 m drill hole intercept with 1 % combined Pb 
                         (e.g. cutting of high grades) and cut-off grades are               and Zn and a maximum internal waste of 1 m. Weighted 
                         usually Material and should be stated.                             averages were used. 
 
 
                    *    Where aggregate intercepts incorporate short lengths          *    Core samples from 23 holes (9 holes not sampled as no 
                         of high grade results and longer lengths of low grade              intersection) ranged from 0.3 to 1.63 m (average 0.92 
                         results, the procedure used for such aggregation                   m). 40 % of core samples were 1 m in length. 
                         should be stated and some typical examples of such 
                         aggregations should be shown in detail. 
 
 
                    *    The assumptions used for any reporting of metal 
                         equivalent values should be clearly stated. 
 Relationship 
 between            *    These relationships are particularly important in the       *    Drilling of underground holes; drill intercepts vary 
 mineralisation          reporting of Exploration Results.                                and may be parallel to mineralisation strike which is 
 widths                                                                                   unavoidable due to the limited access underground. 
 and intercept 
 lengths            *    If the geometry of the mineralisation with respect to 
                         the drill hole angle is known, its nature should be         *    True thickness widths were obtained by measuring 
                         reported.                                                        manually from a perpendicular-to-dip sectional 
                                                                                          review. Lengths are approximate due to the variable 
                                                                                          nature of the lodes, but are considered appropriate 
                    *    If it is not known and only the down hole lengths are            and representative. 
                         reported, there should be a clear statement to this 
                         effect (e.g. 'down hole length, true width not 
                         known'). 
 Diagrams 
                    *    Appropriate maps and sections (with scales) and             *    A long section showing drillholes is included in this 
                         tabulations of intercepts should be included for any             reporting of results. 
                         significant discovery being reported These should 
                         include, but not be limited to a plan view of drill 
                         hole collar locations and appropriate sectional 
                         views. 
 Balanced 
  reporting         *    Where comprehensive reporting of all Exploration              *    Comprehensive table of intercepts in contained in the 
                         Results is not practicable, representative reporting               reporting of results. 
                         of both low and high grades and/or widths should be 
                         practiced to avoid misleading reporting of 
                         Exploration Results. 
 Other 
  substantive       *    Other exploration data, if meaningful and material,         *    Density is analysed by the laboratory using the 
  exploration            should be reported including (but not limited to):               Archimedes principle [dry weight / (dry weight - wet 
  data                   geological observations; geophysical survey results;             weight)]. 
                         geochemical survey results; bulk samples - size and 
                         method of treatment; metallurgical test results; bulk 
                         density, groundwater, geotechnical and rock                 *    Based on a 6.5 % zinc and 2.5 % lead plant feed grade 
                         characteristics; potential deleterious or                        the recoveries based on completed metallurgical test 
                         contaminating substances.                                        work should be 87 % and 85 % for zinc and lead 
                                                                                          respectively. Ag that is mostly associated with lead 
                                                                                          should be about 80 % recovery (not calculated in the 
                                                                                          studies). 
 Further 
  work              *    The nature and scale of planned further work (e.g.          *    NRR have completed the budgeted drill metres planned 
                         tests for lateral extensions or depth extensions or              for the current program. 
                         large-scale step-out drilling). 
 
                                                                                     *    Due to the mixed nature of the drilling results 
                    *    Diagrams clearly highlighting the areas of possible              returned from the recent program, significant 
                         extensions, including the main geological                        increase in Mineral Resource inventory is not 
                         interpretations and future drilling areas, provided              expected at this time. 
                         this information is not commercially sensitive. 
 
                                                                                     *    NRR plan to complete a more detailed review of recent 
                                                                                          results which will include, but may not be limited to, 
                                                                                          update of the 3D geological model in the light of new 
                                                                                          data, complete additional structural interpretation, 
                                                                                          collect additional data from historical RC drill 
                                                                                          chips and refine the targeting model to develop 
                                                                                          future drilling plans. 
===============  ===============================================================  =============================================================== 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DRLKMMMZKGLGVZM

(END) Dow Jones Newswires

December 12, 2016 02:00 ET (07:00 GMT)

1 Year North River Chart

1 Year North River Chart

1 Month North River Chart

1 Month North River Chart

Your Recent History

Delayed Upgrade Clock