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Miyabi Gold Project – 2nd Phase Miyabi Drilling Programme Completed
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)
(“African Eagle” or the “Company”)
Miyabi Gold Project – 2nd Phase Miyabi Drilling Programme Completed
African Eagle notes the announcement issued on 14 December 2012 by its joint venture partner Rift
Valley Resources Ltd. ("Rift Valley”) (formerly known as BrightStar Resources) regarding the Myabi
Gold Project in Tanzania.
The Rift Valley announcement, as released on the Australian Stock Exchange, is reproduced below,
excluding illustrations. Any references to the Company in the text below refers to Rift Valley and not
to African Eagle. Furthermore, references and commentary regarding the extent and magnitude of
mineralisation and mineral resources has been provided by Rift Valley and has not been subject to
verification by African Eagle.
The Rift Valley Resources announcement states:
Rift Valley Resources Limited (“Rift Valley” or “Company”) has just completed the second phase of
drilling for the year ending 2012 at the Miyabi Gold Project.
The latest five week drilling program commenced on 29 October and was focussed on the new Chui
Prospect (discovered during the August drilling program) and on three new geophysical targets
identified elsewhere within the Miyabi Structural Corridor.
Drilling activities have now been suspended due to the commencement of the normal December rainy
season.
While both the Dalafuma and the Chui Prospects were discovered during the August drill program,
only the extent of the high-grade Dalafuma Prospect was confirmed. The Chui Prospect required
further definition and was the focus of the most recent program.
A total of 117 holes for 4,290 metres of drilling have now been completed in the second phase of 2012
drilling. The drilling was undertaken using a multi-purpose drilling rig contracted from Ausdrill and has
involved 107 Aircore holes, 9 RC percussion holes and one diamond drill hole.
All samples have been delivered to SGS Laboratory in Mwanza. Two thirds of the assay results have
now been received with the remainder expected within the next 14 days. The pending samples are
mostly from the regional geophysical targets.
Exploration work will continue at Miyabi during December 2012 and January 2013 to infill the soil
sampling grid within the Miyabi Structural Corridor which is aimed at targeting additional zones of
mineralisation.
Chui Prospect
The objectives of the drill program design at the Chui Prospect were;
a. To investigate continuity of the interpreted zone of mineralisation with Aircore drilling fences
b. To obtain drill data perpendicular to the strike of the interpreted mineralisation (for confirming
the previous high grade assays and understand mineralisation controls).
Aircore drilling
The results received for Aircore drill fences have shown that significant mineralisation is not
continuous along the previously interpreted length of the Chui Prospect and have indicated that the
Chui gold zone is probably more structurally complex than indicated by the initial drilling program.
Although in places, the Aircore drill was not able to penetrate some hard subsurface zones along
strike of the mineralisation trend.
Mineralisation may be a series of discontinuous en echelon mineralised zones rather than a single 900
metre long mineralised zone as previously reported. A new interpretation will be undertaken once all
results are to hand and have been fully assessed.
RC drilling
Drilling on the Chui Prospect has confirmed the high grade mineralisation intersected on section
4600E and previously reported in Hole MBRC378 (11 metres @ 23.0g/t gold from 54m depth). The
new drill hole MBRCD001 intersected 12 metres @ 6.02g/t gold from 33 metres in the RC
percussion pre-collar and extending to the end of the pre-collar. Results from the diamond core
extension to this hole from 45 metres depth are yet to be received. The strike extent of this
mineralisation is not yet known as it was not intersected on the Aircore drill lines 100 meters either
side of this section.
Drill hole From (m) To (m) Au g/t Au g/t
MBRCD001 33 36 2.93
MBRCD001 36 39 10.80
6.02
MBRCD001 39 42 4.52
MBRCD001 42 45 5.85
Note: True width is estimated at 70% of drill intercept
Another previously identified zone of significant mineralisation has been confirmed with drill hole
MBRC387 (on section 4100E) with the best intercept comprising 15 metres @ 1.24 g/t Au from 21
metres to 36 metres down hole. The strike extent of this mineralisation is also not yet known as it was
not intersected along strike in the Aircore drill lines 100 meters either side of this section.
Drill hole From (m) To (m) Au g/t Au g/t
MBRC387 21 24 0.56
MBRC387 24 27 0.45
MBRC387 27 30 0.71 1.24
MBRC387 30 33 3.86
MBRC387 33 36 0.64
Note: True width is estimated at 70% of drill intercept
MIYABI GOLD PROJECT – BACKGROUND
The Miyabi Gold Project is located approximately 200 kilometres southwest of the city of Mwanza in
the Lake Victoria Goldfields, Tanzania. The property has Mineral Resources contained in several
deposits totalling 12.4 million tonnes at 1.3 g/t gold. This Resource comprises 520,000 ounces of gold
(at a 0.5g/t cut-off), estimated in accordance with JORC (2004). The resource comprises 370,000
ounces of Indicated Mineral Resource and 150,000 ounces of Inferred Mineral Resource and was
estimated in 2006.
In April 2011, the Company entered into a joint venture with African Eagle Resources plc where Rift
Valley may earn a 75% interest in the Project by sole funding exploration to completion of a bankable
feasibility study.
Six of the seven individual gold resources estimated to date occur in an en-echelon pattern of shear
zones within a major structural corridor that cuts across the northwest corner of the Miyabi greenstone
belt. This major structural corridor is named the Miyabi Structural Corridor (MSC), it trends northeast
to southwest extending for a length of 7.7 kilometres through the Miyabi property and is some 800 to
1,000 metres wide.
The existing gold resources within the MSC extend along a strike length of approximately 3.5
kilometres in the south western half of the structure and are clustered over a width of approximately
500 metres from the centre of the structure towards its northern boundary.
The potential for new zones of gold mineralization within the MSC, but outside the area of current
resources, was clearly demonstrated with the discovery of the Dalafuma and Chui Prospects in mid-
2012.
- End.
Qualified Person
The contents of this report relating to geology and exploration results are based on information
compiled by Mike McKevitt, Member of the Australian Institute of Mining and Metallurgy and Managing
Director of Rift Valley Resources Limited. Mr McKevitt has sufficient experience related to the activity
being undertaken 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 (“2004
JORC Code”) and consents to the inclusion in this report of the matters compiled by him in the form
and context in which they appear.
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 110km east of
Mwanza within greenstone gold belts which host many of Tanzania's operating and developing gold
mines. African Eagle is currently conducting a Bankable Feasibility Study, which is due for publication
during 2013.
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 Moss, CEO
Alex Buck
+44 20 7248 6059
Canaccord Genuity Limited (NOMAD and Joint Broker)
Rob Collins or Andrew Chubb
+ 44 20 7523 8000
Sponsor
Merchantec Capital
14 December 2012
Date: 14/12/2012 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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