Wrap Text
AEA - African Eagle Resources plc - Miyabi Gold Project - JV Partner Announces
High Grade Drill Results
African Eagle Resources plc
Incorporated in England and Wales
(Registration number 3912362)
(AIM share code: AFE AIM ISIN: GB0003394813)
(JSE share code: AEA JSE ISIN: GB0003394813)
Miyabi Gold Project - JV Partner Announces High Grade Drill Results
13 June 2012: African Eagle Resources plc ("African Eagle" or "the Company")
(AIM:AFE, AltX:AEA) is pleased to report that its joint venture partner
BrightStar Resources Ltd ("BrightStar") has announced the discovery of a new
zone of high grade gold mineralisation resulting from a reverse circulation
drilling programme at the Miyabi gold project in Tanzania.
New results representing data from the first six holes at the newly discovered
Dalafuma Prospect include:
- 18m at 18.3g/t gold from 45m including 6m at 39.8g/t from 48m
- 6m at 4.1g/t from 75m
- 9m at 2.9g/t from 15m
- 6m at 2.7g/t from 12m
(True width is interpreted to be approximately 70% of down hole width)
BrightStar further reports:
This recent drilling was part of the initial follow-up of targets generated
from the 2011 rotary air blast and reverse circulation drilling at Miyabi. The
new discovery has been named the Dalafuma Prospect and was initially
identified by the high-grade intersection of 21m at 6.7g/t Au from 21m in an
exploration hole, which was drilled by BrightStar in 2011. The drilling
defines continuity to the previously recorded intersection and BrightStar
reports that the zone is open along strike and down dip and is interpreted
that it extends to within 5m of surface. The drill rig remains on-site and
follow-up drilling has commenced. '
Drilling has been carried out by Ausdrill Tanzania using a track mounted
Sandvik multi-purpose rig. Holes completed to date have been drilled with a 4
1/2" bit. Sample recovery has been good and all holes have remained dry during
drilling.
Drilling has been initially sampled in 3m composites. Samples were collected
in 1m intervals from the rig cyclone and passed through a riffle splitter. A
scoop sample was taken from the 1m intervals to form the 3m composite of
approximately 2kg, which was submitted to the SGS laboratory in Mwanza,
Tanzania for sample preparation and a 50g fire assay for gold. For each metre,
a 2kg sample was also collected and stored on site. For any intervals with
anomalous 3m composite samples, the 1m samples will be selected and assayed.
Further information can be found at the BrightStar website using the following
link:
http://www.brightstargold.com/announcements/asx-releases.html
About African Eagle
African Eagle Resources plc is a junior mining developer and explorer with
projects in Tanzania and Zambia. The Company`s flagship project is the Dutwa
nickel project in Tanzania located about 25 kilometres south of Lake Victoria
and 140 kilometres east of Mwanza within Greenstone gold belt which hosts many
of Tanzania`s operating and developing gold mines. The Company is quoted on
the AIM market of the London Stock Exchange (AIM: AFE) and on the AltX of the
JSE (ALTX: AEA).
Qualified Person
Information in this report relating to reported exploration results is based
on data reviewed by Mr Paul Payne, a director and full time employee of
BrightStar and a Member of The Australasian Institute of Mining and
Metallurgy. Mr Payne has sufficient experience which is relevant to the style
of mineralisation and type of deposit under consideration and to the activity
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` and is a Qualified Person under AIM rules.
Mr Payne consents to the inclusion in the report of the matters based on his
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 http://africaneagle.co.uk/dutwa-
glossary.asp
For further information, please visit www.africaneagle.co.uk or contact:
African Eagle Resources plc
Trevor A. Moss (CEO)
Alex Buck
+44 20 7248 6059
Canaccord Genuity Limited (NOMAD)
Rob Collins or Andrew Chubb
+ 44 20 7523 8000
Ocean Equities Limited (Joint Broker)
Guy Wilkes
+44 20 7786 4370
Russell & Associates, Johannesburg
Charmane Russell or Marion Brower
+27 11 880 3924
Sponsor
Merchantec Capital
Appendix
Table 1: List of All new RC Intersections > 0.5g/t Au
List of 2012 BrightStar RC Drilling Results
Collar Location and Orientation (local grid)
Hole Type X Y Z Total Dip Az
Depth
MBRC330 RC 5,746 19,420 1,200 87 -55 135
MBRC331 RC 5,700 19,415 1,200 123 -55 135
MBRC332 RC 5,704 19,379 1,200 87 -55 135
MBRC333 RC 5,700 19,320 1,200 57 -55 315
MBRC334 RC 5,750 19,380 1,200 99 -55 135
MBRC335 RC 5,750 19,340 1,200 87 -55 135
Intersections > 0.5ppm Au
Hole From To Length Au
(m) (m) (m) g/t
MBRC330 75 81 6 4.11
MBRC331 45 63 18 18.34
including 48 54 6 39.8
MBRC332 12 18 6 2.68
MBRC333 No assays > 0.5g/t Au
MBRC334 15 24 9 2.91
MBRC335 No assays > 0.5g/t Au
- Samples analysed as 3m composites
- Sampling carried out using a cyclone and riffle splitter
- Sample preparation and gold analysis using 50g fire assay carried out by
SGS Laboratories in Mwanza, Tanzania
- QAQC samples submitted routinely with good results
- Holes located by GPS then transformed to local grid coordinates
- True width is approximately 70% of down hole width.
Date: 13/06/2012 11:39:01 Supplied by www.sharenet.co.za
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