26th Apr 2016 10:12
LONDON (Alliance News) - North River Resources PLC on Tuesday said it has received encouraging drilling results from the Namib lead-zinc mine in Namibia and has submitted its mining licence proposal for the site to local authorities.
North River said drilling results from the northern ore body at the project have continued to show significant mineralisation intersections, including a high-grade intersection at 33.8% zinc.
The drilling programme has progressed well, though North River said the time lost so far due to lower-than-expected rig availability may mean the drilling completes after the current target of the end of June.
The company also said it has submitted a formal mining licence proposal to Namibian authorities for the Namib project.
North River shares were down 1.0% to 0.114 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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