24th May 2022 14:31
African Pioneer PLC - exploration company with projects in Namibia, Botswana and Zambia - Says it started a 25 to 30-hole shallow diamond drill programme at the Ongombo project in Namibia. Completes 6 holes to date. Says all holes intersected "encouraging" sulphide mineralisation with chalcopyrite at shallow depths. Adds that the visual estimates of chalcopyrite content indicate "notable" quantities of copper sulphide. Says work is underway to resample the historic drill core to test for elevated gold values in and around the copper mineralisation.
"I am delighted with these early results from our drilling programme, particularly since the core appears to be sulphides close to surface," Chair Colin Bird says.
"We are pleased that we have gained access to more drill core, and we intend to specifically test for gold, both in quantum and process characteristics. I am very pleased with the progress in fast-tracking the Ongombo project."
Current stock price: 2.90 pence, up 12% on Tuesday
12-month change: down 11%
By Abby Amoakuh; [email protected]
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