African Metals Corporaton Announces Signing of Drilling Contracts for Follow Up Drilling at Luisha South Project Katanga Provenc
04 Outubro 2010 - 8:26PM
Marketwired
African Metals Corp. ("AFR") (TSX VENTURE: AFR)(FRANKFURT: OWW) is
pleased to report that it has secured the services of two companies
to conduct follow-up drilling at the Luisha South Project. Magnum
Drilling Sprl has been engaged for 700 metres of reverse
circulation (RC) percussion drilling, whilst Rubaco Sprl has been
engaged for 1000 metres of diamond core drilling.
It is anticipated that the RC rig will commence drilling in the
first week of October (Monday 4th), whilst the diamond rig will
mobile to site at or around the 10th October with drilling to
commence shortly thereafter. Preparations of the drilling pads and
access tracks are well in hand and subject to any delays caused by
third parties, drilling should commence on time.
Reverse Circulation Program
The RC program has two phases. The first to pattern drill the
historic stockpile adjacent to the Luisha South Pit. Excavator
sampling conducted by independent consultants Strathcona Mineral
Services in 2007 produced samples from ten excavator pits that
ranged in grade from 0.1 % to 1.9 % copper, and 0.1 % to 0.9 %
cobalt. The grades and approximate tonnage (350,000 tonnes) suggest
a potential for the stockpile to be economically viable through a
heap leach process (refer NI 43-101). The drilling program will
enable a resource estimate of the copper and cobalt content, whilst
the cyclone samples from the program are earmarked for bulk sample
leach test work at a facility in the nearby town of Likasi.
The second phase of the program is to test drill the copper in
soil geochemical anomalies highlighted by regional soil sampling
programs conducted by Basanga Consulting Sprl (refer AFR press
release 22 June 2010). The anomalies are to the south and southeast
of the Luisha Pit. Three of the anomalies are broad (between 150
and over 400 metres in size) with values between 190 and 500 ppm
copper; the fourth anomaly represents a two point feature that
returned 3,884 ppm copper.
Diamond Drilling Program
The diamond drilling program is a combination of new holes from
surface and tails to existing RC drill holes. Geological
interpretation of the June RC drill program indicated that a number
of the holes either finished short of, or within, zones of
mineralization; ground water being the common cause of early hole
termination. Positive data from the diamond holes would enable an
upgrade to the maiden resource assessment, which is due to be
released in early October.
AFR will be keeping the market updated on progress as and when
results become available during this exciting phase of the
development of the company.
To view the map associated with this release, please visit the
following link: http://media3.marketwire.com/docs/afr_map.pdf.
Nigel Ferguson, AusIMM, President and CEO of the Company and a
qualified person under National Instrument 43-101, has verified
data disclosed in this release.
ON BEHALF OF THE BOARD OF DIRECTORS OF AFRICAN METALS
CORPORATION
Nigel Ferguson, President & CEO
This News Release contains forward-looking statements.
Forward-looking statements are statements which relate to future
events. These statements are only predictions and involve known and
unknown risks, uncertainties and other factors that may cause our
or our industry's actual results, levels of activity, performance
or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. While these
forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment
regarding the direction of our industry, actual results will almost
always vary, sometimes materially, from any estimates, predictions,
projections, assumptions or other future performance suggested
herein. Except as required by applicable law, the Company does not
intend to update any of the forward-looking statements to conform
these statements to actual results.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this new release.
Contacts: African Metals Corporation Nigel Ferguson President
& CEO +1-604-507-2181 +1-604-507-2181 (FAX)
info@africanmetals.com www.africanmetals.com
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