TIDMNRRP
RNS Number : 6176O
North River Resources Plc
21 September 2011
North River Resources plc / Ticker: NRRP / Index: AIM / Sector:
Mining
21 September 2011
North River Resources plc ('North River' or 'the Company')
Further High Grade Mineralisation Identified at Namib Lead-Zinc
Project
North River Resources plc, the AIM listed resource company
focussed on Southern Africa, is pleased to announce the
identification of further high grade intersections from its 100%
owned Namib Lead-Zinc Project in Namibia ('Namib' or 'the
Project'). The board believes that the consistently high grade
intersections demonstrated from the Company's recent underground
drilling campaign underpins the high prospectivity of the Project
as the Company evaluates the potential to recommence production at
the previously operating Namib Lead-Zinc Mine.
Overview:
-- Further high grade intersections from Namib Lead-Zinc Project
underpin high grade prospectivity below historically mined
levels
-- Results follow the completion of a 1,300 metre underground
drilling campaign to evaluate the potential to recommence
production at the previously operating Namib Lead-Zinc Mine
-- Intersections include:
o 10.98m @ 13.49% zinc ('Zn'), 7.28 lead ('Pb'), 86 g/t silver
('Ag'), 16ppm indium ('In')
o 6.81m @ 16.86% Zn, 0.43% Pb, 45g/t Ag, 114ppm In
o 5.05m @ 8.16% Zn,, 5.06% Pb, 78g/t Ag, 45ppm In
o 12.10m @ 3.30% Zn, 1.22Pb, 42g/t Ag, 17ppm In
-- Conceptual engineering study underway to assess the level of
reserves/resources required to enable the re-opening of the mine
and will be used to form the basis of a decision on whether to
commence underground development to facilitate further
exploration
North River Managing Director David Steinepreis said, "The
encouraging grades and widths that have been demonstrated in these
intersections reinforce our confidence that there is strong
potential for the Namib Lead-Zinc Project to be developed into a
profitable mining operation. In line with this, the conceptual
engineering studies, which are now underway, will provide us with
further information with which we will evaluate the potential to
progress towards recommencing operations and the optimum route
towards production."
Further Information on Drilling Programme
The Company commenced an underground drilling campaign at Namib,
which was in operation from 1965-1992, in April 2011. Approximately
1,300 metres have been drilled from a single drill platform, for a
total of 21 completed holes.
Significant results from the latest batch of samples
include:
NLDD029
From 62.34 to 69.15m 6.81m @ 16.86% Zn, 0.43% Pb, 45g/t Ag,
114ppm In
NLDD030
From 16.75 to 23.25m 6.50m @ 2.55 Zn, 1.59% Pb, 24g/t Ag, 7ppm
In
From 29.09 to 41.19m 12.10m @ 3.30% Zn, 1.22% Pb, 42g/t Ag,
17ppm In
NLDD031
From 19.77 to 23.27m 3.50m @ 3.43% Zn, 6.23% Pb, 100g/t Ag, 3ppm
In
From 31.47 to 36.52m 5.05m @ 8.16% Zn, 5.06% Pb, 78g/t Ag, 45ppm
In
From 54.60 to 56.86m 2.26m @ 10.33% Zn, 13.17% Pb, 147g/t Ag,
36ppm In
NLDD032
From 17.21 to 24.46m 7.25m @ 1.85% Zn, 3.99% Pb, 53g/t Ag, 3ppm
In
From 54.63 to 65.61m 10.98m @ 13.49% Zn, 7.28% Pb, 86g/t Ag,
16ppm In
The mineralisation intersected at about 66m downhole depth is
about 50m vertically below 6.5 Level (the collar position).
Review by a Qualified Person
Mr Jon Andrew, Manager-Geology for North River Resources, has
reviewed and approved the technical information contained within
this announcement in his capacity as a qualified person, as
required under the AIM rules. Mr Andrew is a geologist with an
Honours degree in Geology, has more than 15 years relevant
experience and has been a Member of the South African Council for
Natural Scientific Professions (SACNASP) for more than seven
years.
**ENDS**
For further information please visit www.northriverresources.com
or contact:
David Steinepreis North River Resources Plc Tel: +44 (0) 79 1340 2727
Luke Bryan North River Resources Plc Tel: +44 (0) 20 7292 9110
Guy Wilkes Ocean Equities Limited Tel: +44 (0) 20 7784 4370
Ewan Leggat Fairfax I.S. PLC Tel: +44 (0) 20 7460 4389
Katy Birkin Fairfax I.S. PLC Tel: +44 (0) 20 7598 4073
Stuart Faulkner Strand Hanson Limited Tel: +44 (0) 20 7409 3494
David Altberg Strand Hanson Limited Tel: +44 (0) 20 7409 3494
Hugo de Salis St Brides Media & Finance Tel: +44 (0) 20 7236 1177
Ltd
Susie Geliher St Brides Media & Finance Tel: +44 (0) 20 7236 1177
Ltd
Notes:
North River Resources plc is an AIM listed resource exploration
and development company. Its current portfolio includes gold, base
metal and uranium assets in Namibia; uranium, and base and precious
metal interests in Mozambique. North River's strategy is to
identify, acquire and develop a portfolio of resource opportunities
in sub-Saharan Africa at various stages of development in order to
create value for its shareholders. The Company has a highly
experienced board and management of industry and corporate
professionals, led by David Steinepreis and Luke Bryan.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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