SouthernEra's Koumba Gold Project
SouthernEra's Koumba Gold Project Returns Positive Results
Shares Issued and Outstanding: 74,499,193
TSX: SUF
AIM: SRE
TORONTO, March 4 /CNW/ - SouthernEra Resources Limited today announced
encouraging gold results from the initial phase of drilling that tested a gold
in soil geochemical anomaly, located to the west of the main Mainou Vein gold
mineralized trend on the Koumba gold project, Gabon, where SouthernEra has a
95% interest. The first phase drilling program is progressing as planned and
is currently focused on testing gold in soil anomalies that occur within the
Mainou Vein gold mineralized trend.
The initial diamond core drilling program of selected gold in soil target
areas commenced in November 2003 with the main objective being to determine
the nature of the geological units in the area and to gain a better
understanding of the gold system below the oxide zone. The drilling program
paused over the December holiday with two holes, DDH-KB5 and DDH-KB6,
completed and the third hole, DDH-KB7, still in progress. The program
recommenced at the end of January 2004 following the rainy season and drill
hole DDH-KB7 was completed. Holes DDH-KB5 (dip -45 degrees end of hole 190
meters), DDH-KB6 (dip -60 degrees end of hole 250.7 meters) and DDH-KB7 (dip -
45 degrees end of hole 248 meters) were located to test the 450 meter wide
TRV-2-Trench-B geochemical and gold grain count in soil anomaly (see news
release, October 27, 2003) that is coincident with an airborne radiometric
anomaly located within granitic rocks that are marginal to the north northwest
trending volcano-sedimentary sequence that hosts the Mainou Vein gold
mineralized trend. The TRV-2-Trench-B gold in soil anomaly is located
1.45 kilometers to the west of the Mainou Vein gold mineralized trend and is
not part of the Mainou Vein trend. The TRV-2-Trench-B gold anomaly was
selected to be tested instead of the Mainou gold system during this time due
to easier access to the TRV-2-B anomaly area during the intense rain season
over December and January. The three drill holes intersected altered granitic
rock with disseminated trace to moderate amounts of pyrite and pyrrhotite.
Hole DDH-KB5 was sampled from top to bottom and Hole DDH-KB7 was sampled
from the top to only 102.9 meters as the drilling of the hole was still in
progress at the time of sampling. The core samples were assayed at SGS
Lakefield Research Africa (Pty) Limited in South Africa by the metallic
sieving/fire assay method. Drill hole DDH-KB7 returned 2.11 grams per tonne
gold over 4.0 meters or 3.40 grams per tonne gold over 2.0 meters with further
auriferous zones as tabulated below. Drill hole DDH-KB5's highest assay is
0.72 grams per tonne gold over 2.0 meters.
-------------------------------------------------------------------------
Hole No. Coordinates Inclination From To Interval Au
(degrees) (meters) (meters) (meters) (g/t)
-------------------------------------------------------------------------
DDHKB7 684976E -45 57.0 68.2 11.2 0.32
9918797N 69.3 85.9 16.6 0.40
95.7 99.7 4.0 2.11
including
97.7 99.7 2.0 3.40
-------------------------------------------------------------------------
Following the completion of drill hole DDH-KB7 on gold anomaly
TRV-2-Trench-B and the onset of the drier season, the drill was moved to test
SouthernEra's highest priority gold target below and in the vicinity of the
past underground workings within the Mainou Vein gold mineralized trend. Hole
DDH-KB3 was collared approximately 140 meters north of the Mainou Vein adit
and drilled at an inclination of -45 degrees to a core length of 302 meters.
The drill was then moved 375 meters to the northwest of DDH-KB3 to test a
400-meter wide geochemical and gold grain soil anomaly situated along strike
of the Mainou Vein gold trend.
A fence of four drill holes is currently testing the gold anomaly. To
date two of the four holes have been completed, hole DDH-KB9 (dip -45 degrees
end of hole 192 meters) and DDH-KB11 (dip -45 degrees end of hole 190 meters),
with the third hole DDH-KB10 (dip 45 degrees) still in progress. All of the
drill holes (DDH-KB3, -KB9 and -KB11) have intersected the main Mainou Vein
gold trend that consists of intercalated quartzite and greywacke, and
greenstone sequences, including numerous quartz veins, with zones that are
sheared and sericitized with multiple broad sections containing trace to
appreciable amounts of pyrite and pyrrhotite with minor chalcopyrite. The core
from the Mainou gold trend is currently being sampled to be sent for analyses.
SouthernEra is pleased with the positive gold results on the early stage
Koumba gold project and is encouraged with the nature of mineralisation
encountered in the current drilling within the Mainou Vein gold trend. The
completion of the initial phase drilling program during March on the Mainou
trend will provide information to decide on an appropriate drilling strategy
to maximise the potential of the Koumba gold project.
SouthernEra Resources is an independent producer of platinum group metals
and diamonds. The company also has an extensive PGM, gold and diamond
exploration program. The common shares are listed on the Toronto Stock
Exchange and the London Stock Exchange's AIM market.
For further information: PLEASE CONTACT SouthernEra Resources Limited,
Dr. Sally Eyre, Vice President Corporate Affairs, Telephone: (416) 359-9282,
Fax: (416) 359-9141, E-mail: inbox(at)southernera.com, www.southernera.com
(SRE SUF.)
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