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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 |
RNS Number : 0237E Kiwara PLC 23 September 2008 JSE - KWR AIM - KIW ISIN - GB0007702953 23rd September 2008 Kiwara plc ("Kiwara" or the "Company") Kiwara intersects wide intersections of exceptionally high grade nickel mineralisation close to surface at Kawako The board of Kiwara, the Zambian based exploration Company, is very pleased to announce the results of its initial drill programme at Kawako that has intersected wide mineralised packages that include exceptionally high grades of nickel. Highlights: * Reconnaissance drilling follows up identification of nickel soil anomalies and grab samples * Borehole ("B/H") KW1 intersected 53.50m grading 1.07%Ni from 29.50m; this intersection includes 20.20m grading 2.16%Ni from 62.80m * B/H KW2 intersected 5.58m grading 3.20%Ni from 89.22m and 10.87m grading 6.73%Ni from 104.30m, which includes 5.28m grading 9.78%Ni from 106.15m * B/H KW2 highest grade intersections are 1.20m at 17.41%Ni from 108.3m and 0.93m at 15.37%Ni from 110.5m Background: Kawako is 12km NW of Kalumbila, within Licence 267. Whilst conducting regional exploration across Licence 267, Kiwara geologists established the presence of nickel at Kawako by soil geo-chemistry and the assaying of rock chips from a historic drill collar - these assayed at grades of 1.35% and 1.42% Ni. Following this confirmation a reconnaissance drill programme was conducted to determine the host rock and the mineralisation depth and grades. Kawako Drilling Results: Both KW1 and KW2 are Core boreholes drilled vertically a distance of 870m apart on the SE margin of the anticipated position of the carbonaceous shale unit, on the northern edge of the Ni soil anomaly. The selected length weighted mineralised intersections for which a cut-off grade of 0.2%Ni was applied, are summarised in the table below: B/H Depth Depth Intersected width (m) Ni From To % (m) (m) KW1 29.50 83.00 53.50 1.07* including 62.80 83.00 20.20 2.16* * Weighted average B/H Depth Depth Intersected width (m) Ni From To (m) % (m) KW2 89.22 94.80 5.58 3.20* 104.30 115.17 10.87 6.73* including 106.15 111.43 5.28 9.78* including 108.30 109.50 1.20 17.41* and 110.50 111.43 0.93 15.37* * Weighted average The assays of the core samples from this borehole were carried out by Alfred H Knight of Kitwe, Zambia being an internationally accredited laboratory (SANAS, UKAS, QMS). A 42 element analysis is being conducted. It is of note that only traces of copper and cobalt are present in the assays. Kiwara has carried out various checks which include re-assays, polished section mineralogical work on sections of the core and this work is ongoing. Colin Bird (Chairman) says: "We are delighted with these drill results which suggest that Kawako hosts significant nickel mineralisation reporting close to surface. An aggressive programme to further drill this target will now be implemented." 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 Tel: +44 (0)207 581 4477 Colin Bird, Chairman Peter Vivian-Neal, Chief Executive Officer Tel: +260 (0) 211 293899 Investec Bank, Johannesburg Robert Smith / Gavin Hall Tel: +27 (0) 11 286 7326 Investec Bank (UK) Limited Tel: +44 (0) 20 7597 5000 Gerard Kisbey-Green / Jan Bosch Bishopsgate Communications Ltd Tel: +44 (0)20 7562 3366 Nick Rome This information is provided by RNS The company news service from the London Stock Exchange END DRLQLLFLVKBFBBL
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