Mukuba Intersects Further Copper Mineralization and Completes 2010 Drill Program on the Northcore Project
23 Novembro 2010 - 4:00PM
Marketwired
Mukuba Resources Limited (TSX VENTURE: MKU) ("Mukuba" or the
"Company") is pleased to announce further assay results from
recently completed diamond drilling on Targets 17 and 18 within the
Northcore Project, located southwest of Ndola, Zambia. These
results confirm the presence of copper mineralization and reflect a
continued improvement in copper grades and intercept widths. Mukuba
focussed its 2010 exploration program on various high priority
targets within the larger exploration license areas on the
Northcore Project including a total of 7,602 metres (31 holes) of
diamond drilling. Encouraging intersections from numerous boreholes
indicate variable copper mineralization from lithologies higher in
the sequence.
Core assay highlights include:
NC028: 0.56 m @ 0.72% Cu
NC042: 18.25 m @ 0.25% Cu
NC042: 5.51 m @ 0.44% Cu
NC042: 0.43 m @ 1.96% Cu
Trevor Richardson, President and CEO of Mukuba Resources
commented, "With just about every drill hole intersecting copper
mineralization, we are very encouraged by the results from the 2010
drilling program. As the drilling program progressed on Targets 17
and 18, the results continually improved suggesting we are getting
closer to the source of copper mineralization. The last few holes,
which contain significant sulphide mineralization, were completed
just before the start of the rainy season which marks the end of
the exploration season. Over the next couple of months our team
will be interpreting the data in order to plan the 2011 drilling
program and prioritize additional targets that have been delineated
by the soil sampling program".
Regional soil sampling across various new target areas within
the larger license areas has been completed and the anomalous areas
are being followed up with detailed soil grids prior to the onset
of the seasonal rains to better delineate the newly identified soil
targets. It is anticipated that numerous drill targets will be
identified and selected based on the level of coincidence between
the results of the new soil geochemical survey and recently
acquired airborne geophysical data to be tested in 2011.
Assay results by Target area include:
Target 17
----------------------------------------------------------------
Borehole From (m) To (m) Width (m) Cu (%)
----------------------------------------------------------------
NC028 47.12 47.80 0.48 0.10
----------------------------------------------------
119.36 123.65 3.89 0.31
----------------------------------------------------
Incl. 122.11 122.73 0.56 0.72
----------------------------------------------------------------
NC030 177.00 177.86 0.61 0.16
----------------------------------------------------------------
NC032 78.00 78.52 0.40 0.19
----------------------------------------------------
80.00 81.00 0.50 0.24
----------------------------------------------------------------
NC034 68.00 69.00 0.91 0.11
----------------------------------------------------
71.00 72.00 0.91 0.10
----------------------------------------------------------------
NC035 182.00 183.00 0.87 0.21
----------------------------------------------------
225.06 226.00 0.85 0.26
----------------------------------------------------------------
NC037 0.60 8.60 6.93 0.21
----------------------------------------------------
27.30 32.00 3.60 0.17
----------------------------------------------------
149.00 150.00 0.82 0.15
----------------------------------------------------
194.00 195.00 0.77 0.16
----------------------------------------------------
209.00 211.05 1.68 0.16
----------------------------------------------------
213.00 214.60 1.13 0.16
----------------------------------------------------------------
217.00 218.00 0.82 0.11
----------------------------------------------------
228.50 231.00 2.05 0.17
----------------------------------------------------
Incl. 229.00 229.50 0.41 0.31
----------------------------------------------------------------
NC038 NSR
----------------------------------------------------------------
NC040 64.00 65.00 0.91 0.14
----------------------------------------------------------------
NC042 38.40 58.40 18.25 0.25
----------------------------------------------------
Incl. 45.92 46.50 0.53 0.99
----------------------------------------------------
62.00 68.73 5.51 0.44
----------------------------------------------------
Incl. 65.55 66.07 0.43 1.96
----------------------------------------------------------------
81.91 84.43 2.06 0.17
----------------------------------------------------
255.18 256.42 1.22 0.10
----------------------------------------------------
263.80 264.55 0.68 0.11
----------------------------------------------------
267.00 270.80 3.44 0.18
----------------------------------------------------------------
NC043 50.22 50.72 0.49 0.25
----------------------------------------------------
75.40 76.59 0.97 0.58
----------------------------------------------------
Incl. 76.00 76.59 0.48 0.99
----------------------------------------------------
77.70 81.50 3.11 0.25
----------------------------------------------------
Incl. 81.00 81.50 0.41 0.46
----------------------------------------------------------------
NC043-D1 50.24 50.90 0.64 0.12
----------------------------------------------------
74.70 76.21 1.16 0.21
----------------------------------------------------------------
Incl. 75.70 76.21 0.39 0.42
----------------------------------------------------
78.20 82.02 2.93 0.32
----------------------------------------------------
Incl. 81.20 82.02 0.63 0.48
----------------------------------------------------
190.00 190.53 0.48 0.15
----------------------------------------------------
280.50 282.32 1.76 0.14
----------------------------------------------------------------
NC044 31.00 33.00 1.53 0.40
----------------------------------------------------
38.30 38.80 0.38 0.14
----------------------------------------------------
120.10 126.00 5.11 0.24
----------------------------------------------------
Incl. 120.10 121.00 0.78 0.60
----------------------------------------------------------------
(i) Intervals are corrected for true width; NSR - No Significant Results
Target 18
----------------------------------------------------------------
Borehole From (m) To (m) Width (m) Cu (%)
----------------------------------------------------------------
NC027 Not sampled
----------------------------------------------------------------
NC031 80.92 81.77 0.77 0.18
---------------------------------------------------
110.00 110.80 0.73 0.10
----------------------------------------------------------------
NC033 NSR
----------------------------------------------------------------
(i) Intervals are corrected for true width; NSR - No Significant Results
All sample results have been received from the laboratory.
Analysis of the samples were carried out by SGS Inspection Service,
Kalulushi, Zambia using a mixed, four acid digest with an AAS
finish on the bulked up solution. The laboratory is awaiting final
accreditation following an inspection in February 2011.
Qualified Person
Mr. Chris Meyer (Pr.Sci.Nat.) is a "Qualified Person" as defined
by National Instrument 43-101 and oversees Mukuba's exploration
programs. Mr. Meyer has supervised and approves the preparation of
the technical information contained in this press release.
About the Company
Mukuba is a Canadian mining company focused on the exploration
and development of the Northcore Project, which is located in the
highly prospective Central African Copperbelt region of Central
Zambia. The Northcore Project encompasses approximately 2,274
square km of geologically prospective ground in the Domes Region of
the Zambian Copperbelt. The Northcore Project holds an exploration
license for both copper and cobalt. Geological mapping, soil
sampling and investigation of the historical showings as well as
ground-truthing of the geological surveying results have confirmed
existing historical geological anomalies, and identified new
anomalies. The Company's 2009 exploration program included drilling
several of these anomalies and confirmed the presence of copper
mineralization.
Mukuba also has an Option Agreement between Lukusashi and Lunga
Resources Limited ("Lunga"), a wholly owned subsidiary of Mukuba
Resources Limited. Under the Option Agreement, Lunga has the
exclusive option to purchase an 85% interest in the Nyimba Project
license rights, which must be exercised by Lunga before July 29,
2012. Lunga may exercise its option at any time before this date by
making a onetime payment to Lukusashi of US$1,000,000. In addition,
Lunga will pay Lukusashi a monthly retainer of US$10,000 for each
month that the option remains in force. In January 2007, Lukusashi
Mining Limited ("Lukusashi"), a privately owned Zambian company,
was granted the large scale prospecting license for the Nyimba
Project area, which has now been updated to comply with the new
Zambian Mines and Minerals Development Act, 2008. Mukuba continues
to assess historic exploration records which indicate there are
five defined areas of mineralization within the 500 square
kilometre license area. The most prospective area appears to be
Chipirinyuma, where soil sampling by Minex and Rio Tinto defined a
surface anomaly measuring 3.5 km by 1.2 km.
Forward-looking Information
Securities regulators encourage companies to disclose
forward-looking information to help investors understand a
company's future prospects. This press release contains statements
about our results, planned drilling and future business and planned
activities. These are "forward-looking" because we have used what
we know and expect today to make a statement about the future.
Forward-looking statements usually include words such as may,
intend, plan, expect, anticipate, believe or other similar words.
We believe the expectations reflected in these forward-looking
statements are reasonable. However, actual events and results could
be substantially different because of the risks and uncertainties
associated with our business or events that happen after the date
of this press release. You should not place undue reliance on
forward-looking statements. As a general policy, we do not update
forward-looking statements except as required by securities laws
and regulations.
Contacts: Mukuba Resources Limited Trevor Richardson President
and Chief Executive Officer +1 (416) 918 2242 +1 (416) 603 9200
(FAX) trichardson@mukubaresources.com Mukuba Resources Limited
Nisha Hasan Manager Investor Relations +1 (416) 368 4013 +1 (416)
603 9200 (FAX) nisha@mukubaresources.com
www.mukubaresources.com
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