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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 |
Hot Features
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TIDMKIW
RNS Number : 6067S
Kiwara PLC
21 May 2009
JSE - KWR
AIM - KIW
ISIN - GB0007702953
21st May 2009
Kiwara plc
("Kiwara" or the "Company")
Drilling Update - Further suite of assay results confirm significant copper
mineralisation over extensive strike and dip at Kalumbila
The Board of Kiwara, the Zambian based exploration Company, is very pleased to
announce further excellent results from its ongoing drilling programme on the
Kalumbila base metals target.
Highlights:
* Four Bore holes, L40, L42, L53 and L54 have intersections in excess of 0.80% Cu
over widths of over 20m :-
* Bore hole L40 includes 0.91% Cu over 23.20m from 52.27m; Bore hole L42 includes
1.00% Cu over 31.71m from 122m; Bore hole L53 includes 0.88% Cu over 20.82m from
47.30m and Bore hole L54 includes 0.89% Cu over 34.73m from 146.27m;
* Bore hole L53, the most south-westerly reported, is 8.2Km along strike from
historic nickel and copper zone, has a close to surface intersection, assayed
0.68% Cu over 43.98m from 25m and includes 0.88% Cu over 20.82m from 47.30m; and
1.31% Cu over 6.30m from 52.32m;
* Bore holes L39, L42 and L48 also report high grade cobalt mineralisation.
Colin Bird (Chairman) said: "The Company is delighted with these results, which
together with those previously reported, continue to extend strike and
geological continuity of the Kalumbila copper project. The presence of high
cobalt grades in three of these bore holes provides valuable credits. The near
surface mineralisation in five of the reported borehole results proves the
potential for a large open pit. The Company intends to aggressively pursue its
exploration programme at Kalumbila with the objective of developing a resource
and proceeding to feasibility study."
Selected Results of L39-L44, L48, L50, L53-L54
Applying a 0.30% Cu cut-off grade, the selected length weighted mineralised
intersections for each of the ten bore holes are summarised in the table below,
which also includes the relative position, dip and orientation of each bore hole
collar:
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| B/H | Dip/ | Km | Depth |Depth |Intersection |Copper* |Cobalt* |
| |Orientation | west |from (m) |to (m) | (m) | % | % |
| | | on | | | | | |
| | |Strike | | | | | |
| | | from | | | | | |
| | | NE | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L39 | -70/180o | 5.6 | 78.99 | 89.96 | 10.97 | 0.58 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 115.00 |129.00 | 14.00 | 0.65 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 177.00 |183.71 | 6.71 | 0.71 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| including | | | 182.15 |183.21 | 1.06 | | 0.12 |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L40 | -70/180o | 6.0 | 14.83 | 17.00 | 2.17 | 0.51 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 40.40 | 75.47 | 35.07 | 0.79 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 52.27 | 75.47 | 23.20 | 0.91 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 116.37 |119.26 | 2.89 | 0.76 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 162.22 |166.71 | 4.49 | 0.68 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L41 | -70/180o | 6.6 | 46.00 | 54.46 | 8.46 | 0.55 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 50.95 | 54.46 | 3.51 | 0.85 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L42 | -70/180o | 6.4 | 62.52 | 92.45 | 29.93 | 0.55 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 71.86 | 80.63 | 8.77 | | 0.14 |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 83.23 | 91.21 | 7.98 | 0.91 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 122.00 |153.71 | 31.71 | 1.00 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 155.60 |158.73 | 3.13 | | 0.10 |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L43 | -70/180o | | 52.23 | 76.42 | 24.19 | 0.69 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 61.60 | 65.53 | 3.93 | 0.89 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 124.60 |130.00 | 5.40 | 0.67 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L44 | -75/180o | 3.4 | 104.47 |106.50 | 2.03 | 0.68 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 130.17 |134.25 | 4.08 | 0.53 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 130.17 |132.21 | 2.04 | 0.69 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L48 | -70/180o | 7.2 | 6.00 | 9.22 | 3.22 | 0.39 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 16.37 | 24.50 | 8.13 | 0.43 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 151.55 |156.19 | 4.64 | | 0.11 |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L50 | -70/180o | 7.0 | 65.34 | 86.40 | 21.06 | 0.40 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 117.00 |131.70 | 14.70 | 0.44 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 118.35 |121.40 | 3.05 | 0.68 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L53 | -70/120o | 8.2 | 25.00 | 68.98 | 43.98 | 0.68 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 25.00 | 30.00 | 5.00 | 1.28 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 47.30 | 68.12 | 20.82 | 0.88 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 52.32 | 58.62 | 6.30 | 1.31 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | | | | | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| L54 | -70/180o | 6.8 | 53.65 |123.24 | 69.59 | 0.65 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 68.70 | 74.23 | 5.53 | 1.00 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 101.97 |112.00 | 10.03 | 0.98 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| | | | 146.27 |181.00 | 34.73 | 0.89 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 146.27 |151.54 | 5.27 | 1.20 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
| Including | | | 166.73 |178.25 | 11.52 | 1.13 | |
+-----------+-------------+--------+----------+--------+--------------+---------+---------+
* weighted average
The ten bore holes announced extend strike by 1.8Km; L53 establishes that
Kalumbila remains open on strike to the south-west, which correlates with soil
geo-chemistry. Strike length of mineralization identified by the Company's
drilling has extended westwards giving a total current strike of 8.2Km.
These drill core assay results correlate well with the Company's previously
reported results.
All identified mineralisation occurs within a graphitic phyllite unit associated
with the Lower Roan, which Kiwara correlates as being equivalent to the
"Copper-belt ore shale".
Additional borehole sample assay results are awaited.
Alfred H Knight Ltd of Kitwe, Zambia and SGS Inspection Services Ltd of
Kalulushi, Zambia - both internationally accredited laboratories - carried out
the assays of the core samples from these drill holes.
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.
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
Colin Bird, Chairman Tel:
+44 (0)207 581 4477
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
Mathew Robinson, Corporate Finance Tel: +44
(0) 20 7600 1658
Bishopsgate Communications Ltd Tel: +44
(0)20 7562 3350
Suzanne Johnson-Walsh
This information is provided by RNS
The company news service from the London Stock Exchange
END
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