Asa Resources Regulatory News (ASA)

13 Feb 2007 09:20

Mwana Africa PLC13 February 2007 Mwana Africa plc GOLD UPDATE: BANKA EXPLORATION PROGRAMME - GHANA London, 13th of February 2007 - Mwana Africa, the pan-African resource company,continues its gold exploration programme in Ghana. Mwana has now completed a2,322m (25 holes) diamond drilling programme on its Banka Concession, an 80%Joint Venture. The table below lists the ten best intercepts of the 25 hole programme. (Tenholes returned insignificant intercepts, in some cases due to faulting). Allassays have been received. Hole ID From m To m Interval m Au g/tD003 8.8 9.1 0.3 2.79D004 0.9 1.2 0.3 10.70D005 62.0 62.3 0.3 3.83D006 58.6 59.8 1.2 2.92 60.3 63.9 3.6 14.32D008 58.2 58.7 0.5 2.67D0010 81.5 82.0 0.5 4.60D0015 56.0 57.0 1.0 6.40 61.6 62.6 1.0 7.25D0020 49.0 50.0 1.0 3.76 The emerging geological model is one in which wide zones of well-mineralisedbraided fluvial channels (e.g. D006) are separated by narrow inter-channel zonesof weaker mineralization. Five of these fluvial channels have to date beenidentified on surface along a strike length of ca. 4,000m. Mwana is in the process of interpreting the assay, geological and geotechnicaldata, in order to update the geological model. A follow-up diamond drillingprogramme will be designed to test the open-pitable as well as undergroundpotential of the Banka Concession. Charl du Plessis, Vice President Exploration of Mwana, who holds a PhD and is aMember of the AusIMM, is a "Qualified Person" as defined in the AIM Rules, andhas reviewed the information disclosed herein. Enquiries: Oliver Baring, Executive Chairman Tel: 020 7654 5588Mwana Africa plc Tom Randell / Maria Suleymanova Tel: 020 7653 6620Merlin Mark Williams Tel: 020 7050 6500Canaccord Adams Limited This information is provided by RNS The company news service from the London Stock Exchange