12th Feb 2016 09:42
LONDON (Alliance News) - North River Resources PLC on Friday said a drilling campaign at the Namib lead-zinc project in Namibia has delineated additional extensions of known lodes and identified additional high grade targets.
The resource company said 4,828 metres have been drilled since August 2014, with results giving management confidence in the previously announced JORC compliant mineral resource estimate.
Delineated extensions of known lodes and high-grade targets indicated by significant intersections included 3.6 metres at 15.6% zinc, 1.0% lead; 7.3 metres at 14.9% zinc, 3.2% lead; 4.5 metres at 9.3% zinc, 13.6% lead; 3.8 metres at 10.9% zinc, 8.7% lead; 5.7 metres at 16.8% zinc, 6.9% lead; and 8.7 metres at 9.6% zinc, 3.7% lead.
A resource expansion drilling campaign announced in November 2015 is underway, the company said, adding that the targeting of drill holes is informed by the results of the infill drilling campaign. Results of the resource expansion drilling will be released in due course.
"I am encouraged that the results of the drilling have confirmed previous drilling, and I am very pleased to share the high-grade drill results from the southern orebody. I look forward to providing regular updates on the resource expansion drilling campaign and other pre-construction work streams over the coming months," Chief Executive James Beams said.
Shares in North River were up 19% at 0.0830 pence on Friday morning.
By Samuel Agini; samaginiatalliancenews.com; atsamuelagini
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