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Press release from Marketwire

Additional Drilling Results at Africo's Kalukundi Copper-Cobalt Project

Also, Drilling the Kalukundi Fragment Will Contribute New Data for Incorporation Into a New Resource Assessment

Thursday, October 25, 2012

Additional Drilling Results at Africo's Kalukundi Copper-Cobalt Project18:55 EDT Thursday, October 25, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2012) - Africo Resources Ltd. ("Africo") (TSX:ARL) is pleased to report that the resource drilling at its Kalukundi property has been completed and results for much of the drilling undertaken on the Anticline Fragment have been received and assessed. A total of 17 boreholes (5205m) were drilled on this Fragment from late February to early July 2012. In addition, Africo anticipates receiving assay results for the additional drilling that has also been conducted on the Kalukundi Fragment of the property.The Anticline Fragment is so named as being a folded sequence of the Mines Series units in an Antiform structure with a NW trend, which plunges steeply to the north. The strike length of the fragment is 180m at surface, but the width is significantly enhanced by the fold structure and is over 80m. The boreholes have been set out on 7 section lines spaced 50m apart and covering a strike length of 300m so as to test the down-plunge extent of the Fragment. A number of boreholes were drilled deeper than the extent of the Anticline Fragment to intersect the down-dip, in depth extent to the Principal Fragment of the property. Section 1 Two new boreholes, ANTD001 (682m) and ANTD007 (489.65m), were drilled on this section, which runs parallel to the Anticline Fragment boundary fault and its splays, hence the geology and associated mineralisation is severely disrupted.Sample fromSample toInterval mGeologyCu %Co %BH ANTD001148.9167.818.90RAT Br6.090.22including148.90156.207.30Br12.550.22342.15346.314.16SD3a Br1.950.71BH ANTD007155.68201.0145.33RSC/RAT Br1.581.05Including178.67188.7810.11RSC3.352.76No Mines series rocks were intersected in ANTD001. The RAT Breccia was encountered and a zone of high grade copper mineralisation intersected down-dip from the surface mineralisation over a drilled width of 18.90m. The next borehole approximately 60m away also intersected RAT Breccia footwall rocks near surface, but did encounter the Mines Series formations as RSC and a sliver of SDB. The other Mines Series units are missing locally. Excellent cobalt mineralisation was intersected over 45.33m, with patches of high grade copper mineralisation typical of the siliceous RSC unit. In addition, narrower zones of mineralisation can be found within the SD shales and the CMN dolomites and shales in depth within both boreholes. This mineralisation is very encouraging, especially as this drilling is largely in a fault zone. Section 2 Three new boreholes, ANTD003 (274.38m), ANTD008 (520.30m) and ANTD009 (491.65m) were drilled on this section, which has delineated the fully duplicated Mines Series sequence with the optimum mineralisation within the axis of the fold in the Lower ore body lithologies and the lower limb of the RSC. The drilled thickness on the Mines Series package in BH ANTD003 reaches 80m. In BH ANTD008 the narrower intersection of 23.10 signifies proximity to the fold closure area. Despite this the mineralisation continues to occur down-dip in narrower zones in BH ANTD009 in the Rat Breccia, SD shales and the siliceous dolomites of the CMN.Sample fromSample toInterval mGeologyCu %Co %BH ANTD00371.5151.580.00Mines Series3.530.56including71.50121.7850.28Mines Series1.200.80including121.78151.529.72Mines Series7.470.17BH ANTD008170.72193.8223.10Lower OB5.220.50Including174.6186.612.00RAT Gr/D Str7.440.36BH ANTD00981.4990.659.16RAT Br/SD3a1.530.66182.93192.759.82CMN3.090.23426.33434.658.32CMN2.340.25 Section 3 Two new boreholes, ANTD002 (463.86m) and ANTD011 (539.03m), were drilled on this section on either side of the geotechnical BH GT013 (200.29m). This section also intersects the fully duplicated Mines Series sequence with the optimum mineralisation within the axis of the fold especially in BH ANTD002 with a drilled thickness of 71.85m. In addition, a number of well mineralised zones were intersected within the CMN silicified dolomites and associated shales. A previously drilled BH GT013 intersected Mines Series rocks with additional mineralisation in the hangingwall shales. Lastly the furthest hole down-dip, ANTD11 intersected only RAT Breccia and CMN lithologies, but with significant mineralisation in the CMN. The better intersections are listed in the table below. This set of boreholes demonstrates high grade mineralisation within the axis of the anticline continuing to a vertical depth of 130m. There is also additional mineralisation in the hangingwall shales and dolomites in BH GT013.Sample fromSample toInterval mGeologyCu %Co %BH ANTD00270.45142.371.85Mines Series2.650.57including70.45118.8448.39Mines Series2.240.66including124.3142.318.00Lower OB4.470.48226239.7413.74CMN2.530.17321.28324.433.15CMN5.161.03Sulphide zone392.79425.732.91Mines Series3.580.37BH GT01380.5159.378.80RSC/SDB/SDS2.130.63Including138.35159.320.95RSC/SDB3.551.37BH ANTD01180.65118.4337.78CMN4.600.64175.43191.6616.23CMN0.760.44365.36376.8611.50CMN2.540.67BH ANTD002 was also drilled deep to explore for the in depth continuity of the Principal Fragment mineralised Mines Series mineralisation. This was successful at a drilled depth of 392.79m where high grade copper mineralisation at 3.58% Cu was intersected over a drilled width of 32.91m. This is a very important intersection as it confirms the continuity in depth of the Principal Fragment mineralisation down to a vertical depth of 300m below surface or an elevation of 1175m above mean sea level. Section 4 Four new boreholes, ANTD014 (224.63m), ANTD006 (241.23m), ANTD004 (430.64m) and ANTD016 (110.60m) were drilled on this section, which also intersects the fully duplicated Mines Series sequence with the optimum mineraIisation encountered in the core of the folded zone in the Footwall Ore Body lithologies. The drilled widths intersected exceed 80m in width for BHs ANTD006 and ANTD004.Sample fromSample toInterval mGeologyCu %Co %BH ANTD01417.0029.1012.10RSC2.780.08BH ANTD00625.82106.5380.71Mines Series5.290.73Including39.3987.6748.28Lower OB7.331.04112.03121.399.36SDS Shales1.620.13BH ANTD00467.90155.3287.42Mines Series2.900.28Including110.77119.899.12D St/RAT Gr7.020.34BH ANTD016Noassays-RAT Br--For BH AMRD014, assays are only available for the uppermost portion of the intersection. Only SDB and a thick package of RSC were intersected. Encouraging mineralisation occurs in the uppermost section of this RSC zone. The substantial thickness of mineralisation in boreholes ANTD006 and ANTD004 are very similar to each other with a thick central package of well mineralised rocks consisting of the main units that make up the Lower Ore Body of the Mines Series. Grades of Cu and Co in the uppermost and lowermost sections of the intersection consisting of the Upper Ore Body formations are variably mineralised but of a lower order. Section 5 Two new boreholes, ANTD010 (454.10m), ANTD005 (616.6m), were drilled on this section in front of the Gecamines hole no KDI201. BH ANTD005 on this section also intersects the fully duplicated Mines Series sequence with the optimum mineralisation encountered in the core of the folded zone within the Footwall Ore Body lithologies.Sample fromSample toInterval mGeologyCu %Co %BH ANTD010125.83135.19.27SD Shales2.150.07342.37348.155.78CMN2.750.61411.154164.85CMN4.300.46BH ANTD00590.00160.5070.50Mines Series2.760.52Including99.1105.836.73RSC6.762.24Including124.18148.724.52Lower OB4.630.46386.95398.511.55CMN4.540.85BH ANTD010 appears to have drilled over the top of the anticlinal folded Mines Series package. The SD shales pass directly into the CMN units. There are 11 bands of mineralisation in the borehole varying in thickness from 2.32m to 24.10m, which may be an indication of the close proximity of the main mineralised zone.BH ANTD005 has intersected a thick package of the folded Mines Series units. This is very similar to that intersected on sections 3 and 4 and confirms continuity of this well mineralised, folded Mines Series package. On section 5 the SDB is weakly mineralised and only partly included in the grading, hence the package is slightly thinner than on the other two sections. Nevertheless it is still a substantial thickness of copper and cobalt mineralisation. In addition there are narrow bands of mineralisation in the SD shales and deeper down in the CMN where one intersection at 386.95m is very well mineralised over 11.55m. Section 6 Only one new borehole, ANTD013 (315.78m) was drilled on this section. No assay results have yet been returned for this borehole, but it appears to have intersected the nose of the anticlinal fold, demonstrating further continuity of the sequence. This can be substantiated by the intersection of the SDB unit which is straddled by the SD shales with only CMN dolomites and shales in depth.Notes:All drilled thicknesses listed above are apparent widths. No adjustment has been made for the dip of the formations. The angle of dip of the Anticline Fragment formations varies only slightly either side of 45º. As all of the drilling was undertaken at an inclination of -45º, most of the intersections are very close to being a true width. Only very slight adjustments will be needed to define the true with in places. Mention is made of the Upper Ore Body and the Lower Ore Body. Although this is a mining term in the DRC Copperbelt it has over time become accepted terminology for these two zones above and below the RSC (or siliceous dolomite) unit. It does not necessarily infer economic concentration of mineralisation. Sample preparation is done on site in the DRC. Analyses were undertaken by ALS Chemex in Johannesburg. The pulp is received and sieved to 95%-106µ. Three analysis techniques are used; ICP-AES analyses by ME-ICP61 on 33 elements after 4 acid digestion; ICP-AES analyses by ME-OG62 on ore grade elements after 4 acid digestion.Africo has also retained AMEC Mining & Metals Consulting Group to undertake a new resource assessment of the Kalukundi project as well as to prepare a NI 43-101 Technical Report to support the disclosure of the mineral resources on the project. The disclosure in this News Release has been prepared under the supervision of Michael J. Evans, Africo's Consulting Geologist, who is a Qualified Person as defined in NI 43-101.Africo Resources Ltd. is a Canadian mineral company engaged in developing, acquiring and exploring for base metal assets in Africa. The company's main project is Kalukundi, a development stage copper-cobalt deposit located in the Katangan Copperbelt in the Democratic Republic of Congo (DRC) in which Africo has a 75% interest. The development team has an operational base in the DRC, with the company corporate offices located in Vancouver, Canada. Forward-looking statements:This news release may contain certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Africo expects to occur, are forward looking statements.Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Africo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Africo's management on the date the statements are made. Africo undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.To view the maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/arl-1025-maps.pdfFOR FURTHER INFORMATION PLEASE CONTACT: The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Contact Information: Africo Resources Ltd.Chris TheodoropoulosChairman+1 (604) 646-3225Africo Resources Ltd.Larry OkadaChief Financial Officer+1 (604) 646-3225www.africoresources.com