23rd Jan 2007 07:00
Lonmin PLC23 January 2007 Lonmin PLC New PGM mineralisation and drill results from Sudbury PGM Joint Venture at Capre Lonmin is pleased to announce the discovery of a new zone of significant lowsulphide high PGM mineralisation on the Capre property, see Figure 1, one of sixproperties which comprise the previously announced PGM joint venture with CVRDInco Limited in Canada's Sudbury Basin. The mineralisation has been intersected in 10 holes drilled on a south plungingweak Titan IP anomaly generated by a surface geophysical survey carried out inFebruary 2006. The broad zone of mineralisation defined by drilling to dateextends from a depth of 150 metres to 300 metres, has a strike length of 100metres and plunges to the south at 45-55 degrees. The extent of themineralisation has been further approximated by the use of downhole geophysics,which has identified conductive zones characterised by chalcopyrite veiningwithin the larger mineralised system. Significant quantities of PGMmineralisation have also been found in disseminated mineralisation associatedwith discontinuous massive sulphide veins and as separate zones withchalcopyrite stringers and joint fillings. Drilling is continuing to determinethe extent of both types of mineralisation. Ian Farmer, Chief Strategic Officer of Lonmin commented: "We are very pleased to announce this new discovery on the Capre property which,along with results we are achieving from other properties, confirms theexcellent potential of the footwall of the Sudbury Basin to host significant PGMmineralisation. We will continue to work to build towards a critical mass ofresources that would support a viable PGM mining and processing operation." Figure 1 Map of the Capre Property and drill hole locations. Please refer towww.lonmin.com for map. The assay results received to date are shown in Table 1. Core True Grade Hole From To length Thickness Number m m (m) (m) Pt-Pd-Au Pt Pd Au % Ni % Cu g/t g/t g/t LM0114-0 210.7 254.5 43.8 35.0 0.81 0.35 0.33 0.13 0.03 0.30 Including 210.7 211.6 0.9 0.7 18.47 4.87 8.67 4.92 0.69 11.41 LM0115-0 255.6 327.0 71.4 57.1 3.06 1.64 1.16 0.26 0.20 0.22 Including 316.0 327.0 11.0 8.8 10.96 6.39 4.00 0.57 0.05 0.17 LM0116-0 267.6 365.5 97.6 75.0 2.04 1.09 0.76 0.19 0.10 0.49 Including 267.6 270.1 2.5 1.9 10.75 9.34 1.05 0.39 0.26 1.16 Including 280.6 295.0 14.4 10.9 4.80 1.98 2.24 0.58 0.41 2.48 LM0117-0 249.5 335.9 54.2 43.9 1.48 0.59 0.75 0.13 0.10 0.13 Including 266.1 271.2 5.1 4.1 14.80 5.84 7.63 1.33 0.70 0.71 LM0118-0 Trace LM0119-0 252.8 292.9 40.1 40.1 1.19 0.45 0.64 0.10 0.08 0.58 Including 263.0 266.8 3.8 3.8 3.17 1.22 1.71 0.24 0.23 3.08 Including 275.6 279.6 4.0 4.0 5.20 1.38 3.30 0.53 0.16 1.55 LM0120-0 348.1 389.7 41.6 41.6 3.34 1.38 1.56 0.41 0.20 1.78 Including 348.1 351.7 3.6 3.6 24.54 8.28 13.18 3.08 1.86 17.98 LM0121-0 344.3 367.4 23.1 23.1 0.48 0.19 0.23 0.06 0.15 0.29 Including 355.5 357.5 2.1 2.1 1.88 0.61 0.87 0.40 1.16 1.10 LM0122-0 Trace LM0123-0 187.3 187.5 0.2 0.2 11.38 3.12 6.80 1.46 1.67 3.12 and 190.3 190.5 0.2 0.2 9.93 3.36 3.78 2.79 2.45 3.36 and 201.4 201.7 0.3 0.3 17.38 4.47 12.60 0.31 2.20 4.47 All tabulated assay data has been rounded to two decimal places. Compiled assayintervals are length weighted. Two additional holes have been drilled for whichcomplete assay results are pending. In addition to the drilling on the Capre Property, 3 drill rigs have beendeployed on the Denison, Levack North and McKim properties. Qualified Persons, Quality Control & Methodology CVRD Inco Limited, the manager of the joint venture with Lonmin , takes noresponsibility for nor makes any representation or warranty of any kind relatingto the information contained in this news release. Details of the quality control procedures for these drill results are asfollows: Half core samples are delivered to the ALS Chemex sample preparationfacility in Sudbury, Ontario, where the entire sample is weighed and thencrushed to 70% -10 mesh. ALS Chemex then homogenises the crushed reject bypassing it once through a Jones riffle and then recombines the two halves fromwhich a 200-250 gram portion is split using the same Jones riffle. The split isring pulverised to 85% -200 mesh from which a 100 gram split is sent to theiranalytical facilities in Vancouver, British Columbia. All of the samples with sulphide contents greater than 10% are analysed by theirME-ICP81 (formerly A6 procedure) for Cu, Ni, Co, Fe, S, As, Pb and Zn (0.2 gramsof sample are fused with 2.6 grams of Na2O2 in zirconium crucibles), for Au, Ptand Pd by fire assay/ICP (PGM-ICP23) and for low-level As, Pb and Ag by nitricaqua regia digestion/AAS (AA45). All three procedures are ISO 9002 certified.Results, which exceed the upper limit of the procedures, are redone by anappropriate assay method for the element and level of concentration. Samples with sulphide contents of less than 10% are submitted for the ME-ICP61+PGM-ICP23 procedure. This package is a total acid digestion that assays for Au,Pt, Pd, Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, K, Mg, Mn, Mo, Na, Ni,P, Pb, S, Sb, Sr, Ti, V, W and Zn. A prepared sample (0.250 gram) is digestedwith perchloric, nitric and hydrofluoric acids. The sample is then furtherdigested in a small amount of hydrochloric acid. This solution is analysed byinductively coupled plasma-atomic emission spectrometry and the results arecorrected for spectral inter element interferences. About the joint venture: Lonmin Plc entered into the joint venture with CVRD Inco Limited in January 2005exploring for low sulphide high PGE-Au mineralisation on six Inco properties:Levack North, Trillabelle, Denison, McKim, Capre and Wisner. The joint venturehas targeted a type of PGE-Au mineralisation recently identified in SudburyOntario, where high grades of PGE's are associated with low levels ofcopper-nickel sulphides ("low sulphide high PGE-Au mineralisation"). This typeof mineralisation has become an increasingly higher profile exploration targetin the Sudbury Basin and is being explored, evaluated and in some instancesmined by a number of companies. Forward-Looking Statements Any forward looking statements made in this document represent management'sjudgment as to what may occur in the future. However, the group's actual resultsfor the current and future fiscal periods and corporate developments will dependon a number of economic, competitive and other factors including some which willbe outside the control of the group. Such factors could cause the group's actualresults for current and future periods to differ materially from those expressedin any forward looking statements made in this document. Unless otherwiserequired by applicable law, accounting standards or regulation, we do notundertake any obligation to update or revise any forward-looking statements,whether as a result of new information, future developments or otherwise. Enquiries: Alex Shorland-Ball +44 (0)207 201 6060Vice President,Investor Relations & Communications ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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