Source: http://www.mineweb.com

African Eagle discovers nickel in Tanzania

African Eagle Resources plc, the diversified mineral exploration and development company operating in eastern and central Africa, is pleased to announce the discovery of a promising nickel laterite at the company's Zanzui project in Tanzania. This discovery follows the Company's announcements earlier this year that it had delineated a large nickel-cobalt laterite at its Dutwa project, from which it expects to make a Resource Statement in the next few days.

African Eagle's  Managing Director,  Mark Parker  said 'Results  from scout drilling to test for a nickel-cobalt laterite blanket over  the Zanzui layered  intrusive  complex, which  lies  just 70km  south  of Dutwa, are highly encouraging and indicate potential for the  Company to define  an additional  nickel  resource. As at Dutwa, there are indications of significant cobalt by-product.

As one of the few active and fully-funded explorers in the region, with an experienced team on the ground, African Eagle is well-placed to progress the project rapidly.'

The most significant nickel results from the 30-hole, 1,940m scout drilling programme are:

·         42m at 1.05% nickel from 12m depth, including 6m at 2.80%

·         33m at 0.91% nickel from 9m depth, including 9m at 1.41%

·         39m at 0.76% nickel from 9m depth

·         18m at 1.34% nickel from surface

·         24m at 1.02% nickel from 18m depth

·         24m at 0.92% nickel from 9m depth

·         18m at 1.14% nickel from 9m depth

The Zanzui Complex,  located 110km east  of Mwanza and  approximately 70km south-west  of  the  Dutwa  discovery,  is  a  strongly  layered circular ultramafic intrusion 12km in  diameter, covering an area  of approximately 140km². It was first investigated in the 1980s by the United Nations Development Programme, which reported high geochemical nickel anomolies and up to 1.24g/t palladium in diamond drill core samples. African Eagle's geochemical work also returned anomalous values for platinum (37 ppb) and gold (52 ppb) as well as nickel and cobalt.  Pan concentrates up to 8.3g/t gold were recorded from the Ndudumo River on the southern margin of the complex and there are reports of platinum nuggets panned from streams around the complex.

Ground and airborne magnetometer surveys completed by African Eagle over the area clearly show the layering of the complex.

The latest drill results show that parts of the Complex have a nickel-enriched laterite blanket.  The grades and thicknesses are similar to those announced by the Company from Dutwa and suggest that

Zanzui is potentially another siginicant laterite deposit.

The tables below list all the results with significant intercepts greater than 0.5% nickel and 0.05% cobalt. The samples submitted for assay are composites over each three metre downhole length.  The nickel assays were carried out by the fully accredited Humac Laboraraties in Mwanza, Tanzania and are currently being verified by a second laboratory.

 

Table 1: Nickel Intersections

 

Hole No	From (m)	Intersection (m)	Ni Grade (%)
ZZRC - 3	0	3	0.63
ZZRC - 6	0	15	0.61
ZZRC - 7	6	9	1.06
	21	3	0.73
	30	3	0.51
ZZRC - 8	3	3	1.21
	12	3	0.61
	18	3	0.83
or	3	18	0.66
ZZRC - 9	0	18	1.34
ZZRC - 10	3	3	0.68
	18	9	0.96
ZZRC - 11	0	3	0.64
ZZRC - 12	0	3	0.73
ZZRC - 13	9	15	0.88
	27	21	0.71
or	9	39	0.76
ZZRC - 14	9	6	1.15
ZZRC - 15	0	24	0.78
ZZRC - 17	3	3	0.54
ZZRC - 20	9	18	1.14
ZZRC - 21	9	24	0.92
ZZRC - 22	18	24	1.02
ZZRC - 23	12	3	0.73
	18	6	1.34
	27	15	1.76
Incl.	30	6	2.80
	48	6	0.58
or	12	42	1.05
ZZRC - 24	0	9	0.51
	12	3	0.76
	18	3	1.75
or	0	21	0.70
ZZRC - 25	9	6	1.05
	18	12	0.71
	33	9	1.41
or	9	33	0.91
ZZRC - 26	3	12	0.86

 

 

Table 2: Cobalt Intersections

 

Hole No	From (m)	Intersection (m)	Co Grade (%)
ZZRC - 7	0	15	0.20
ZZRC - 8	0	3	0.05
ZZRC - 9	0	3	0.37
ZZRC - 10	18	6	0.06
ZZRC - 12	0	3	0.16
ZZRC - 13	9	9	0.23
Incl.	12	3	0.56
ZZRC - 14	3	3	0.07
ZZRC - 15	3	12	0.09
ZZRC - 20	6	9	0.22
Incl.	9	3	0.39
ZZRC - 21	9	6	0.21
ZZRC - 22	15	9	0.12
ZZRC - 24	0	6	0.05
ZZRC - 25	9	9	0.17
ZZRC - 26	0	3	0.06
ZZRC - 28	6	3	0.07

 Qualified Person (AFE)

Information in this report relating  to exploration results is  based on data  reviewed  by Mr  Christopher  Davies BSc,  MSc,  DIC,  FSEG, FAusIMM, Operations Director for  African Eagle, who  is a Fellow  of the Australasian Institute of Mining and Metallurgy, has more than 27 years' relevant experience in mineral exploration, and is a Qualified Person under AIM rules.  Mr Davies consents to the inclusion of the information in the form and context in which it appears.

Technical terms

A  glossary  of technical terms used  by African  Eagle  in  this announcement  and   other  published   material  may   be  found   at

 www.africaneagle.co.uk/african-eagle-projects-glossary.html

For further information:

Mark Parker

Managing Director

African Eagle

+44 20 7248 6059

+44 77 5640 6899

 

Nicola Marrin

Seymour Pierce Limited, London

Nominated Adviser

+ 44 20 7107 8000

 

Charmane Russell/Zenzele Bam

Russell & Associates, Johannesburg

+ 27 11 880 3924

 

Ed Portman / Leesa Peters

Conduit PR, London

+44 20 7429 6607

+44 (0) 7733 363 501

About African Eagle

African Eagle is a diversified mineral exploration and development company operating in eastern and central Africa.  The Company's principal advanced projects are the Mkushi Copper Mines project in Zambia, for which a Feasibility Study will be completed in Q4 2008, and the Miyabi gold project in Tanzania, at which the Company has defined an estimated half-million ounce gold resource. African Eagle is also evaluating two promising nickel laterite deposits which it recently discovered in   Tanzania.  The Company  holds a  large well-balanced portfolio  of promising  earlier  stage gold  and  base metal projects, including  the Ndola and  Mokambo copper projects  in Zambia.

Zambia,  Tanzania and  Mozambique,  the  sites  of  African  Eagle's projects, are all  countries which have  highly prospective  geology, relatively low  above-ground risks  and track  records of  successful major investments in the metals and minerals industries.

African Eagle specialises in project generation and exploration.  To take its discoveries into production, it seeks to sign up industry partners with records of successful mine development. These joint ventures and, in time, the revenue from advanced projects, will finance future exploration and new discoveries.

Source: http://www.mineweb.com

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