African Eagle Resources PLC : African Eagle Resources plc: Announcement of
maiden JORC resource estimate for Zanzui prospect
African Eagle - Zanzui Maiden Resource
Maiden JORC Resource Estimate for Zanzui
08 January 2013: African Eagle Resources plc ("African Eagle" or the
"Company") (AIM: AFE; AltX: AEA) is pleased to announce a maiden JORC Inferred
resource estimate on a small part of its 85% owned Zanzui complex of 27
million tonnes ("Mt") at a grade of 0.81% nickel and 0.06% cobalt. Estimated
metal contained in the newly defined resource is approximately 219,000 tonnes
of nickel and 16,000 tonnes of cobalt.
The Zanzui complex is situated about 50km south of African Eagle's Dutwa
Nickel Project in Tanzania and this maiden resource confirms that the
lithology of nickel mineralisation discovered at Dutwa is not limited solely
to that property and that at least one further instance of similar
mineralisation exists in the region. The Zanzui complex covers an area of
approximately 140 km^2 and the defined Inferred nickel resource measures only
around 3 km^2. The Company will explore the potential for ore from Zanzui to
become supplemental feed to its Dutwa project.
Table 1 Total January 2013 Zanzui Mineral Resource - Inferred Resource
estimate reported above a 0.55% nickel cut-off.
JORC Lithology Tonnes Ni Co SiO FeO MgO AlO
(2004) (Mt) (%) (%) (%) (%) (%) (%)
Inferred Ferruginous-siliceous 23.2 0.81 0.06 62.7 24.9 1.9 1.7
Transition 3.4 0.81 0.03 45.0 21.7 11.3 2.1
Sap rock 0.4 0.71 0.03 39.6 14.4 27.3 0.9
Total 27.1 0.81 0.06 60.0 24.3 3.5 1.8
Small discrepancies may occur due to the affects of rounding
Commenting on the announcement, African Eagle's CEO, Trevor Moss, said,"This
maiden resource confirms the medium term potential of Zanzui to become an
exciting extension to our flagship Dutwa Nickel Project as it lies within
reasonable transport distance to the planned processing plant at Dutwa. This
maiden resource estimate is only for a small part of the large circular shaped
Zanzui mafic/ultramafic complex prospect, which measures around 12 kilometres
in diameter. Zanzui is a significant target and the Company is evaluating
options with regard to expanding exploration to cover the other main areas of
the complex including the strong potential for significant sulphide
The Inferred resource for Zanzui was prepared by Snowden Mining Industry
Consultants Pty Ltd of Perth Australia from data acquired from drill
programmes comprising 75 vertical reverse circulation holes drilled on a
staggered pattern of 100m and 200m for a total of 4,362 metres of drilling.
African Eagle performed the drilling in two phases with the first occurring
in August 2008 and the second in May and June 2010. The overall programme was
designed only to provide early data for an initial investigation into the
Zanzui area and to begin the evaluation of Zanzui as a mineral target.
Richard Sulway is a member of the Australasian Institute of Mining and
Metallurgy (MAusIMM(CP)) and has sufficient experience which is relevant to
the style of mineralisation and type of deposit under consideration and to the
activity to which he is undertaking to qualify as a competent person as
defined in the 2004 edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves". Richard Sulway is a
full-time employee of Snowden Mining Industry Consultants Pty Ltd and is a
Qualified Person under AIM rules. Richard Sulway consents to the inclusion in
the report of the matters based on his information in the form and context in
which it appears.
For further information, please visit www.africaneagle.co.ukor contact:
African Eagle Resources plc
Trevor Moss, CEO
+44 20 7248 6059
Canaccord Genuity Limited (NOMAD and Joint Broker)
Rob Collins or Andrew Chubb
+ 44 20 7523 8000
Ocean Equities Limited (Joint Broker)
+44 20 7786 4370
About African Eagle
African Eagle Resources plc is a nickel development and explorationcompany
listed on the London AIM (AFE) and Johannesburg AltX (AEA) stock exchanges.
The Company's flagship project is the Dutwa Nickel project in Tanzania located
about 25km south of Lake Victoria and 110km east of Mwanza within greenstone
gold belts which host many of Tanzania's operating and developing gold
mines.The Company is currently conducting a Bankable Feasibility Study, which
is due for publication during 2013.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: African Eagle Resources PLC via Thomson Reuters ONE
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