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KIW Kiwara

77.50
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kiwara LSE:KIW London Ordinary Share GB0007702953 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 77.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Drilling Update

19/05/2008 3:17pm

UK Regulatory


    RNS Number : 7090U
  Kiwara PLC
  19 May 2008
   
      JSE - KWR
    AIM - KIW
    ISIN - GB0007702953

                                                                                                                                            
                                   19 May 2008
    Kiwara plc
       ('Kiwara' or the 'Company')
    Drilling Update -Kawanga Uranium Target

    The board of Kiwara, the Zambian based mining exploration Company, is pleased to announce the results of its preliminary drilling
programme on the Kawanga uranium target situated within Prospecting licence 267, its exploration property.

    Highlights:  

    *     Drill programme intercepts uranium at potentially viable grades in four drill holes which confirms historic findings
    *     Most significant intersection assayed is 0.87% U308 over 1m
    *     Result provides confidence to conduct further exploration

    Uranium Drilling Update:

    The Company has completed a preliminary drilling programme to test a radioactive anomaly and to verify historic exploration for uranium
at Kawanga. Drilling results confirm that the mineralization occurs in at least two zones, one of which may appear to measure some 700x550m
and which may be up to 6m thick.

    The mineralization has been found within, and at the contact between the Muscovite Schist and the Biotite Schist, which the Company
correlates as the contact between Lower and Upper Roan series.

    The mineralised intersections from the Kawanga UraniumTarget:

 Drillhole  Depth (m)  Intersection(m)    %U3O8   Drilling Method
                                                                 
 WR8              105                  1   0.87                RC
 WR11             123                  1   0.51                RC
 WR12              58                  6  0.118                RC
 W2               224               0.22   0.11              Core

    RC= Reverse Circulation drilling

    WR12 includes a 1m intersection from 63m that assayed 0.32% U308

    These positive results will enable the Company to finalise a follow-up programme to delineate the Kawanga target and also to develop an
exploration signature to apply to other regional uranium targets identified within the licence area. 


    The Kawanga Uranium target was identified by AGIP in the 1970's and was drilled extensively. Unfortunately, whilst it has been
documented as a prospective uranium target no original drill or assay data is currently available. The Company therefore is required to
conduct its own drill programmes in order to ascertain size and grade of the target area in order to develop a resource.  

    The assays of the samples from these drill holes were carried out by Alfred H. Knight of Merseyside, England, an internationally
accredited laboratory (SANAS,UKAS,QMS) using ICP analysis.


    Peter Vivian-Neal (CEO): 'These results are very encouraging and confirm previous statements as to the uranium potential of the licence
area. The Company will embark upon a further work programme with the intention of delineating resource, both at Kawanga and other locations
within the licence area'


    About Kiwara:
    Kiwara is a mining, exploration and development company with a focus on copper, nickel, cobalt and uranium with a specific focus on the
Republic of Zambia, a country which together with the Democratic Republic of Congo hosts Africa's largest and potentially one of the world's
most productive mineralized zones, the Copperbelt.
    Kiwara through its subsidiary holds Prospecting Licence 267 which covers a significant portion of the Kabompo Dome in North Western
Zambia, a complex poly-metallic geological feature (created by upward thrust of the basement granites through the more recent sedimentary
rocks). This is within the area considered to be the western extension of the Copperbelt, an increasingly significant mining area that
contains the new 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
    Investec Bank, Johannesburg
    Robert Smith                                                    Tel: +27 (0) 11 286 7326
    Investec Bank (UK) Limited                             
    Gerard Kisbey-Green / Jan Bosch                    Tel: +44 (0) 20 7597 5000 
    Bishopsgate Communications Ltd                    
    Nick Rome                                                       Tel: +44 (0)20 7562 3366


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