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Kiwara PLC (KIW)

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Tuesday 23 September, 2008

Kiwara PLC

Drilling Update

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 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

From (m)

Depth

To (m)

Intersected width (m)

Ni

%

KW1

29.50

83.00

53.50

1.07*

including

62.80

83.00

20.20

2.16*

* Weighted average


B/H

Depth

From (m)

Depth

To (m)

Intersected width (m)

Ni

%

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 KitweZambia 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 surfaceAn 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
 
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