REG-African Eagle Resources PLC : Nickel and PGE Sulphide Mineralisation Discovered at Dutwa
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For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130404:nHUGd102 04 April 2013: African Eagle Resources plc ("African Eagle" or the "Company") (AIM: AFE; AltX: AEA) is pleased to report the discovery of nickel sulphide and platinum group elements (PGEs) in the strata below Dutwa including a shallow mineralised zone immediately below the known laterite deposits at Wamangola. The following data has been compiled after a re-investigation of existing drill intersections from the Company's Dutwa Project in Tanzania. Nickel sulphide mineralised saprock and bedrock intersections include: *Hole DTRC127, from 51 metres, 6 metres at 0.52% nickel to end of hole *Hole DTRC147, from 51 metres, 3 metres at 0.54% nickel to end of hole *Hole DTRC149, from 42 metres, 12 metres at 0.65% nickel to end of hole *Hole DTRC408, from 57 metres, 1 metre at 0.60% nickel to end of hole *Hole DTRC007, from 96 metres. 3 metres at 0.47% nickel *Hole DTRC011, from 111 metres, 6 metres at 0.58% nickel PGEs mineralised intersections include: *Hole DTRC108, from 33 metres, 3 metres at 1.17 g/t platinum *Hole DTRC002, from 159 metres, 6 metres at 0.89 g/t palladium to end of hole* *Hole DTRC009, from 141 metres, 3 metres at 3.08 g/t gold* *Hole DTRC008, from 114 metres, 3 metres at 2.02 g/t gold* * Note these assays were also reported in the Company's announcement of 29 September 2008 Trevor Moss, African Eagle's CEO, commented "The discovery of visible sulphide mineralisation and the strong values achieved are potentially very exciting for the Dutwa Project. We have long known the significance of Dutwa's laterite deposits but the presence of nickel and PGEs in sulphides in the strata immediately underlying these deposits is further evidence of the strength of Dutwa overall. We are planning to implement a cost effective exploration programme to explore and quantify the extent of the sulphide mineralisation and to begin to define what may be another aspect of the potential nickel province that may exist in northern Tanzania." During the resource drilling programme, conducted between 2008 and 2012, at the Dutwa nickel laterite orebodies, it was Company procedure for all the drill holes to extend through the laterite horizon and ensure delineation and to terminate in the underlying bedrock. A review of these bedrock intersections has revealed a number of holes with elevated nickel and PGE values which appeared to be inconsistent with the known laterite mineralisation. A recent re-examination of the samples indicated the presence of sulphide mineralisation. Selected samples had previously been sent to Rhodes University in South Africa for petrographic and microprobe analysis which confirmed the presence of cobalt rich and cobalt poor pentlandite, i.e. nickel sulphide. These results, which complement the previously reported PGE and gold assay results from 2008, include: *Hole DTRC002, from 159 metres, 6 metres at 0.89 g/t palladium to end of hole *Hole DTRC007, from 96 metres, 3 metres at 0.46 g/t palladium *Hole DTRC011, from 45 metres, 3 metres at 0.59 g/t platinum *Hole DTRC108, from 33 metres, 3 metres at 1.17 g/t platinum *Hole DTRC008, from 114 metres, 3 metres at 2.02 g/t gold *Hole DTRC009, from 141 metres, 3 metres at 3.08 g/t gold *Hole DTRC010, from 63 metres, 3 metres at 0.72 g/t gold *Hole DTRC114, from 27 metres, 3 metres at 0.59 g/t gold All the mineralised intersections are from the tail of the laterite resource drillholes where visible sulphides have been observed with grades of more than 0.4% nickel. A 0.4g/t cut off has been used for platinum and palladium results and 0.5 g/t for gold. Assays were carried out at Omac Laboratories in Ireland on 3m composited Reverse Circulation drill cuttings, with approximately 20% of quality control samples (reference standards, blanks and duplicates) inserted into the sample stream. The Company is now planning to undertake a programme of geophysical surveys, including electromagnetic and induced polarisation in order to delineate the current extent of the known mineralisation at Wamangola and to define additional areas for drill testing. Qualified Person Information in this report relating to exploration results is based on data reviewed by Mr John McDonald BSc, CGeol, FGS Country Manager for African Eagle, and is a Chartered Geologist who has more than 34 years of relevant experience in mineral exploration, and is a Qualified Person under AIM rules. Mr McDonald has reviewed and consents to the inclusion of the information in the form and context in which it appears. For further information, please visit www.africaneagle.co.uk http://www.africaneagle.co.uk/ or contact: African Eagle Resources plc. Trevor Moss, CEO Alex Buck +44 20 7248 6059 Strand Hanson Limited (NOMAD) Stuart Faulkner Angela Hallett James Dance + 44 20 7409 3494 Ocean Equities Limited (Broker) Guy Wilkes +44 20 7786 4370 Russell & Associates, Johannesburg Charmane Russell or Marion Brower +27 11 880 3924 About African Eagle African Eagle Resources plc is a nickel development and exploration company 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 100km east of Mwanza within greenstone gold belts which host many of Tanzania's operating and developing gold mines. ---------------------------------------------------------------------------------------------------- This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. 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 the information contained therein. Source: African Eagle Resources PLC via Thomson Reuters ONE HUG#1690002
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