APP.L Regulatory News (APP)

7 Feb 2005 07:00

Southern African Resources PLC07 February 2005 7th February 2005 SOUTHERN AFRICAN RESOURCES REPORTS FURTHER POSITIVE DRILLING RESULTS FROM FLAGSHIP PLATINUM PROJECT Southern African Resources Plc ('SAR' or 'the Company'), the AIM listed mineralexploration company, is pleased to announce that it has received furtherpositive results from the present drilling programme at its flagship platinumproject, the 4,600 hectare Leeuwkop property, situated on the western limb ofthe Bushveld Igneous Complex. Snowden Mining Industry Consultants, which is managing the Leeuwkop drillingprogramme, has reported the following update on three further mother holes:SNL15, SNL16 and SNL19. Results relate to 3 Platinum Group Elements + Gold ('3PGE+Au'). (Assay - Anglo American Research Laboratories) New Merensky Reef holes: Merensky Reef (preliminary grades reported over true width) Mother Hole Depth Mineralised Grade 3PGE+Au g/t Intersection m cm SNL15 Low values, possible disturbed zone intersected* SNL16 1,166.3 109 4.22 SNL19 913.3 101 5.14 • Abnormal intersection, possibly resulting from pothole facies that occur sporadically in Bushveld deposits. New UG2 Reef holes: UG2 Reef (preliminary grades reported over true width) Mother Hole Depth Mineralised UG2 Grade Mineralised UG2 Grade Zone Reef m 3PGE+AU 3PGE+AU cm cm UG2 Zone UG2 Reef g/t g/t SNL15* 1,379.0 147 5.54 94 7.21 SNL16 1,374.5 176 4.38 99 4.30 SNL19 1,111.0 133 4.60 95 5.40 * Deflection 4. The mother hole intersected a pothole. The above preliminary assay results are being verified through check assays andQA/QC based on internationally accepted standards. A summary of the drill results released to date are tabled below: Merensky Reef (Preliminary grades reported over true width) Mother Hole Depth Mineralised width Grade m cm 3PGE+AU g/t SNL01 1,000.7 107 4.67 SNL02 1,000.9 109 4.89 SNL03 976.5 99 3.62 SNL04 1.084.6 101 3.23 SNL05 1,083.0 100 9.75 SNL06 1,055.2 105 3.75 SNL08 897.7 91 4.29 SNL10 959.2 104 4.01 SNL11 1,102.3 99 6.33 SNL12 1,056.2 109 5.83 SNL13 946.3 103 8.31 SNL14 1,132.1 98 5.34 SNL15 Low values, possible disturbed zone intersected* SNL16 1166.3 109 4.22 SNL17 1,149.3 109 4.12 SNL18 1,353.8 99 9.63 SNL19 913.3 101 5.14 UG2 Reef (Preliminary grades reported over true width) Mother Hole Depth Mineralised UG2 Grade Mineralised UG2 Grade Zone Reef m 3PGE+AU 3PGE+AU cm cm UG2 Zone UG2 Reef g/t g/t SNL01 1,199.3 161 5.84 90 7.32 SNL02 1,205.9 135 4.75 75 5.32 SNL03 1,191.0 129 5.10 63 6.72 SNL04 1,282.5 129 5.31 93 6.37 SNL05 1,289.0 135 4.83 78 6.54 SNL06 1,267.9 120 4.05 85 4.63 SNL08 1,109.6 144 5.85 105 6.94 SNL10 1,179.0 144 5.20 100 6.03 SNL11 1,284.5 140 5.69 102 6.66 SNL12 1,270.7 162 6.10 118 7.21 SNL13 1,165.3 137 5.33 88 6.80 SNL14 1,308.5 135 4.53 84 5.88 SNL15 1,379.0 147 5.54 103 7.21 SNL16 1,374.5 176 4.38 99 4.30 SNL17 1,361.9 (Abnormal) n/a 74* 4.97* SNL18 1,353.7 151 5.80 106 7.02 SNL19 1,111.0 133 4.60 95 5.40 * Abnormal intersection, possibly resulting from pothole faces that occursporadically in Bushveld deposits. SAR Chief Executive Officer, Roy Pitchford, said: "We are once again veryencouraged with the results from a further three mother holes. The metalsgrades, as well as the continuity of both the Merensky and UG2 reefs in ourexploration area, continue to be positive, providing ample reaffirmation of theattractiveness of Leeuwkop as a first-rate platinum project. The drillingprogramme is on-schedule and the pre-feasibility study is due to be completed inmid 2005." SAR is an exploration and development company focusing on Platinum GroupElements ('PGE'). It holds the exploration rights to the Leeuwkop project (whichhosts an inferred resource of 56 million ounces of 3 PGE + Au) on South Africa'sBushveld Igneous Complex, the world's most prolific platinum district. TheGreater Leeuwkop area controlled by SAR encompasses a potential inferredresource base of 125 million ounces 3 PGE + Au. In addition, SAR is exploringand evaluating the Molopo Farms Igneous Complex in Botswana, whose geology isbelieved to be similar to that of the Bushveld. Some statements in this press release contain forward-looking information. Thesestatements address future events and conditions and, as such, involve inherentrisks and uncertainties. **ENDS** Contacts: Roy Pitchford Southern African Resources Plc Tel: 0845 108 6060 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange