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North River Resources Plc (AIM:NRRP) have released recently assayed drilling results indicate significant quantities of high grade mineralisation under the historic Namib Lead Zinc mine.
Highlights:
– 23.3m of 20.5% combined Pb/Zn with 132.4 g/t Ag
– 15.1m of 16.9% combined Pb/Zn with 45.2 g/t Ag
– 12.1m of 18.1% combined Pb/Zn with 169.2 g/t Ag
The drilling also included a 1.09m intersection of almost pure sphalerite with a grade of 49.8% zinc (in drill hole
NLDDK012), while a 1.68m intersection contained 27.6% lead. For reference, at current prices 64 g/t of silver (Ag) is approximately equivalent to 1g/t of gold (Au)
The bulk of these intersections come from the Central ore body. However, drilling in 2011 discovered an intersection of 4m of 42.2% combined Pb/Zn and 382g/t Ag in drill hole NLDD025B beneath the floor of the Junction ore body, while channel samples on the Southern ore body at the base of the mine revealed grades of 4.3m of 20.2% combined Pb/Zn (NLZ_CH_100_21) and of 6.3m of 18.4% combined Pb/Zn (NLZ_CH_100_22).
Therefore there is evidence of high grade mineralisation appearing across the historically mined ore bodies at depth, while further drilling will explore evidence that the size of the ore bodies may also be increasing.Core has been produced from North River’s own Kempe U3-9BQ diamond drill which has been used to search for shallower targets, up to around 100m beneath the existing mine workings.
To date, the drill has performed beyond the company’s expectations. North River has also contracted a more powerful Atlas Copco electric hydraulic drill to target holes of up to 300m deep.
This drill has encountered mechanical problems related to its recent refurbishment, and whilst it is now operating properly, these problems have delayed our deeper drilling programme by around two months. As a result, the company is considering purchasing a second Kempe diamond drill, with a wire -line, to recover time lost on the deeper drill programme over the coming months.
