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returning assays greater than 10 ppb Au, including a high of 4,028 ppb Au.
Limited diamond drilling was carried out at Mwomboshi by the Zambian Geological
Survey in 1978, and while no systematic core sampling and gold analysis was
carried out, numerous core intervals were crushed and panned, returning
significant gold tails. Zambezi has recently completed more surface geochemical
sampling and a ground IP geophysical survey, and has now commenced a diamond
drilling programme, initially targeting the highly anomalous 400 metre zone of
the Mwomboshi shear system. Assay results are expected in October.
At Oryx, the Company's priority uranium project, 14 trenches have been completed
for a total of 1,628 metres over the areas of strongest radiometric uranium
anomalism. Channel sampling has been completed and all samples have been
submitted for assay. In addition, detailed spectrometer traverses have been
conducted along all trenches. A strong correlation between spectrometer results
and the limited assay results to hand is evident, with broad uranium
spectrometer anomalies corresponding closely with uranium assay anomalies. Full
assay results are expected in late September, when a more detailed report will
be released. In addition to Oryx, the Company continues to carry out
reconnaissance work on other radiometric uranium anomalies identified during the
2005 geophysical surveys.
Commenting today Julian Ford, Managing Director of Zambezi, said: "Over the next
six weeks, we look forward to further results from our intensive and ongoing
drilling campaigns on our key copper and gold projects. Following positive
results at Cheowa, our copper strategy has been cemented with the announcement
of the Glencore Joint Venture last week. Intensive exploration activity
continues on our gold and uranium projects and we are optimistic of positive
developments".
A detailed version of this announcement, including maps is available from the
Zambezi website at: www.zambeziresources.com
For more information contact:
Julian Ford, Managing Director
Zambezi Resources (Australia)
+61 (8) 9216 9000/+61 (4) 1894 9580
Mineral Resources and Ore Reserves, and consents to the inclusion in the report
of the matters based on the information in the form and context in which it
appears.
This information is provided by RNS
The company news service from the London Stock Exchange
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