6th Mar 2014 10:56
LONDON (Alliance News) - North River Resources PLC Thursday said the assay results from recent drilling at its Namib lean zinc mine have indicated significant quantities of high grade mineralisation.
In a statement, the company also said the definitive feasibility study is progressing on schedule and it remains in talks with several potential development capital financiers.
"To date there has been good interest from African and European banks, and several off-take concentrate trading houses, as well as a number of equity funds," it said, adding that former Mwana Africa PLC finance chief Donald McAlister has joined as a consultant adviser.
It said highlights of the assayed drilling results are:
· 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
North River Resources shares were up 6.5% at 0.735 pence.
By Steve McGrath; [email protected]; @stevemcgrath1
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