African Eagle Resources Regulatory News (AFE)

6 Feb 2006 07:01

African Eagle Resources PLC06 February 2006 African Eagle Resources plc DRILLING UPDATE AT MKUSHI African Eagle Resources plc ("the Company" or "African Eagle", ticker AFE) ispleased to announce the final results from its 2005 drilling programme at theMkushi copper project in central Zambia. The Mkushi drilling programme iscontinuing into 2006. Mineralised drill intercepts included: 84m at 1.8% copper including 15m at 5.2% 26m at 1.0% copper and 22m at 0.6% copper 30m at 0.4% copper African Eagle's Operations Director, Chris Davies, comments, "These resultsconfirm the existence of wide zones of copper mineralization at Mkushi andjustify African Eagle's decision to fast-track the Mkushi Project to economicfeasibility." These results are the last from a drill programme completed in December 2005 oncopper mineralisation around the 30m deep 1960s-era open pit at Munshiwemba andits southwest extension into an area known as H-Zone. The new results, together with previously reported mineralised drill interceptsfrom the area, demonstrate a continuous zone of mineralization extending forapproximately 1 km along strike and down to depths of 150m below surface. The results of the latest drilling are tabulated below and a map showing all thedrill results to date along this zone can be seen at www.africaneagle.co.uk/projects-mkushi.html Drill Hole Prospect From (m) Interval (m) Copper %MH9 H Zone 61.0 6.0 1.0and 80.0 84.0 1.8including 133.0 15.0 5.2MH8 H Zone 160.0 30.0 0.4MMU5 Munshiwemba 24.5 4.5 0.4MMU6 Munshiwemba 62.5 22.0 0.6and 121.0 26.0 1.0 The drill core and cuttings to date have been submitted for multi-elementanalysis including gold assay. African Eagle's 2005 drilling programme at Mkushi was implemented to verifyhistorical data that indicated a resource of at least 30 Mt at 1.25% Cu remainedafter production operations were terminated in the mid 1970's. The resultsreceived to date give encouragement to confirm and expand on the historicalresource. In January, the Company commenced a programme of resource definitiondrilling, using two diamond drill rigs and one percussion rig. A secondpercussion rig will be mobilised soon and will be used to test promisinggeophysical anomalies in previously unexplored parts of the licence area. John Park ChairmanAfrican Eagle Resources plc 6 February 2006 About African Eagle African Eagle is a mineral resources company with its focus on eastern andcentral Africa. It operates in Zambia, Tanzania and Mozambique, countries withhighly prospective geology and low above-ground risks, which have all beendestinations for successful recent major investments in the metals and mineralsindustries. The Company has a highly motivated team, proven management and an experiencedboard. Its principal operations are the Miyabi gold project in Tanzania and theMkushi and Ndola copper projects in Zambia. It has discovered a large ironoxide copper gold (IOCG) system at Eagle Eye in Zambia and holds a well-balancedportfolio of promising early stage projects. For further information, see the Company's web site www.africaneagle.co.uk orcontact one of the following: Mark ParkerManaging Director+44 20 7248 6059+44 77 7980 1159 Chris DaviesOperations Director+44 20 7248 6059+44 78 6672 9959 Leesa Peters or Pam SpoonerConduit PR+44 20 7429 6600+44 78 1215 9885 This information is provided by RNS The company news service from the London Stock Exchange