TIDMNRRP
RNS Number : 2822W
North River Resources Plc
26 April 2016
North River Resources plc / Ticker: NRRP / Index: AIM / Sector:
Mining
North River Resources plc ("North River" or the "Company")
Latest resource drilling results: including an intersection of
35.7 metres (true width of 9 metres) at 33.8% zinc
North River Resources plc, the AIM quoted resource company,
wishes to provide an update on its ongoing underground diamond
drilling programme at its flagship Namib Project in Namibia.
Highlights
-- Drill results from the Northern Orebody continue to show
significant intersection of mineralisation
-- A high grade intersection of 35.7 metres (true width of 9
metres) at 33.8% zinc adding further confirmation of mineralisation
80 metres below level 5 in the North
-- 3,800 metre drilling programme progressing well, but time
lost to date with lower than forecast rig availability is putting
drill completion date of end June 2016 at risk
-- 5 Level 300m development tunnel completed on schedule in March
Details of the current drilling programme
The drilling programme to test extensions at depth in the North
and South orebodies of the Namib resource is in progress. The
contracted Diamec rig continues to be used for longer drill holes
(up to 200 metres) from the 5 Level development drive, below the
current North resource, while the Company's own Kempe drill
continues with shallower (up to 80 metres) infill and extension
targets in both North and South.
Reliability issues with both drill rigs have put pressure on the
scheduled completion of the campaign by end June 2016 but this is
being addressed with improved maintenance capability on each shift
and additional critical spares at site. Completion of the
development of the tunnel on 5 level in late March will also
provide unrestricted access and therefore improved operating time
for the rigs from now on.
Further to the drilling results announced on the 12(th) February
and 21(st) of March 2016, the Company advises that 18 holes,
totalling 1,767 metres, have been drilled to date on this 3,800
metre campaign. The results of the first eight holes have been
reported previously and a further three holes are reported in Table
1 below. The remaining holes are awaiting sampling or assay
results.
Significant mineralisation was intersected in two holes, which
are highlighted below:
-- NLDD069: 35.7m (true width of 9 metres) at 33.8% zinc
-- NLDDK077: 3.8m (true width of 1.5 metres) at 10.6% zinc and
5.8m (true width of 2 metres) at 12.2% zinc and 10.9% lead
Assays are awaited for 3 additional holes (NLDDK078, NLDDK079
and NLDD070). These holes visually indicate mineralised intercepts,
corroborated by XRF Niton analysis, but are expected to be at a
lower grade since mineralisation is semi-massive and disseminated
in some places.
More generally, the results reported to date indicate a
continuation of mineralisation 80 metres below the existing
Northern part of the orebody, providing growing support for the
Company's confidence in delivering an increased resource estimate
for the Namib project following completion of the drilling
campaign.
The information in this release that relates to Exploration
Results is based on information compiled by Mr. Galen White,
Principal Geologist of CSA Global (UK) Ltd and a Competent Person
who is a Fellow of the Australasian Institute of Mining and
Metallurgy (FAusIMM). Mr White has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity being undertaken to qualify as a
Competent Person as defined in the 2012 Edition of the
"Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves. Mr. White consents to the inclusion in
this release, of matters based on his information, in the form and
context which it appears.
North River CEO James Beams commented, "It is very pleasing to
build on our confidence in the geological potential of the Namib
project and I look forward to releasing further drilling results as
we progress with the programme towards a larger resource base and
longer mine life."
Figure 1: Long section of the Mine Looking North East
http://www.rns-pdf.londonstockexchange.com/rns/2822W_-2016-4-25.pdf
Table 1: Significant intercepts table
Location Hole Hole NAT NAT North NAT Max Dip Azimuth From To Interval True Zinc Lead Silver Iron
Type ID East RL depth (m) (m) width width % % ppm %
(m) (m) (m)
--------- ----- --------- -------- --------- ----- ----- --- ------- ----- ----- -------- ----- ---- ---- ------ ----
North DD NLDD069 475143.6 7509859.9 170.9 161.9 -46 225 100.1 135.9 35.7 9.0 33.8 0.1 46 20.3
--------- ----- --------- -------- --------- ----- ----- --- ------- ----- ----- -------- ----- ---- ---- ------ ----
North DD NLDDK077 475053.3 7509904.0 171.5 75.0 -27 229 47.6 51.3 3.8 1.5 10.6 0.2 10 18.6
--------- ----- --------- -------- --------- ----- ----- --- ------- ----- ----- -------- ----- ---- ---- ------ ----
North DD NLDDK077 475053.3 7509904.0 171.5 75.0 -27 229 60.8 66.6 5.8 2.0 12.2 10.9 157 28.3
--------- ----- --------- -------- --------- ----- ----- --- ------- ----- ----- -------- ----- ---- ---- ------ ----
No significant
North DD NLDD068 475143.6 7509859.6 170.8 92.8 -41 221 intercepts
--------- ----- --------- -------- --------- ----- ----- --- ------- ----- ---------------------- ---------- ------ ----
Significant Intercepts are based on the following criteria:
-- Minimum intercept length: 3 metres
-- Maximum internal waste: 1 metres
-- Cutoff Lead/zinc combined: 1 %
-- True thickness lengths were obtained by measuring intercepts
manually from a perpendicular-to-dip sectional review. Lengths are
approximate due to the variable nature of the lodes.
Appendix: Quality Assurance Quality Control of assay results
Diamond core samples were half core samples and are selectively
sampled based on observable sulphide mineralisation. Approximately
one metre of waste is sampled either side of mineralisation.
Samples were prepared and analysed for iron, lead and zinc at
Bureau Veritas Namibia (Swakopmund). They were fused with sodium
peroxide, dissolved in dilute HCL and analysed by Inductively
Coupled Plasma (ICP) Optical Emission Spectrometry. Silver samples
are dissolved in a multi acid digest and assayed by inductively
Coupled Plasma (ICP) Optical Emission Spectrometry.
The Quality Assurance Quality Control (QAQC) programme included
certified reference materials (CRMs) from African Mineral Standards
(AMIS) in Johannesburg, South Africa; blanks and duplicate samples.
QAQC results were monitored and where issues were noted, the
laboratory is requested to re-assay the affected samples.
During the QAQC analyses for the results reported in Table 1
above, two failures in the lead and silver CRMs were reported. The
lab was requested to re-assay these results and ten surrounding
samples (five either side) for the failed elements were re-assayed.
All failed CRMs passed after re-assay.
**ENDS**
For further information please visit www.northriverresources.com
or contact:
James Beams North River Resources Tel: +44 (0)
Plc 20 7025 7047
Andrew Emmott / Ritchie Strand Hanson Limited Tel: +44 (0)
Balmer 20 7409 3494
Jonathan Williams / RFC Ambrian Limited Tel: +44 (0)
Kim Eckhof 20 3440 6800
About North River Resources: North River Resources (AIM ticker:
NRR) is a multi-asset mining exploration and development company
with projects located in Namibia and Mozambique. The Company's
primary focus is bringing its flagship Namib project into
production. The Namib project is the restart of a high grade
zinc-lead underground mine located in Namibia.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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