28 Jul 2011 07:00
BERKELEY MINERAL RESOURCES PLC
("BMR" or "The Company")
INITIAL LEACHPLANT JORC RESULTS
MANAGEMENT APPOINTMENTS AT KABWE
Berkeley Mineral Resources Plc, which is primarily engaged in processing mining tailings, announces a JORC-compliant mineral resource estimate for the central section of the leach plant tailings acquired in June 2011. This mineral resource estimate is is addition to the JORC-compliant estimate for the wash plant tailings announced by BMR on 28 March 2011.
The new mineral resource estimate is based on an analysis of the auger drilling campaign carried out in July 2010 and is as follows:
JORC Mineral Resource estimates on Lead (Pb) and Zinc (Zn) for the central section of Kabwe Leach Plant Tailings
Mineral Resource Classification | Volume (m3) | Dry Bulk Density (t/m3) | Average Moisture Content (%) | Pb (%) | Zn (%) | Wet tonnage | Dry tonnage |
Measured | 1,890,674 | 1.21 | 33.63 | 8.31 | 3.74 | 2,995,933 | 2,241,961 |
Total | 1,890,674 | 1.21 | 33.63 | 8.31 | 3.74 | 2,995,933 | 2,241,961 |
The central area covered by this resources estimate is coloured purple on the relevant illustrated map on the BMR website at http://www.bmrplc.com/projects-2/resources.
BMR now intends to commission further drilling over the remaining sections of the leach plant and slag sections of the Kabwe stockpiles so that the whole of the leach plant and slag resources can be reported conforming to the JORC standard.
BMR has also engaged Metanza to complete the metallurgical testing of the wash plant, leach plant and slag sections of the stockpiles using the material produced by BMR's July 2010 drilling and sampling programme. Metanza estimates that this will be concluded by the end of October 2011.
The mineral resource estimate was prepared by Mr. D R Young (BSc. Hons., Geology), of The Mineral Corporation, who is a Competent Person as defined by the JORC Code (2004), being registered as a Professional Natural Scientist with the South African Council for Natural Scientific Professions (SACNASP), with more than five years experience relevant to resource estimation.
Local management
BMR has appointed Dennis Human B.Sc. (Hons), Bus. Admin. (Hons), as Consulting Geologist for its operations at Kabwe. Mr Human is an experienced geologist and land surveyor with over 30 years widespread experience of mining and processing operations involving gold, lead, zinc, copper and iron ore in various African countries and in Europe.
BMR has also retained two of the existing Directors of its Zambian-registered subsidiaries Enviro Props Ltd and Enviro Mining Ltd. Albert Chalwe is a Mechanical Engineer with 19 years' service to Zambian railways and marketing experience prior to becoming a director of Alberg Ltd, a mining company based at Kabwe, in 2006. Edgar Njobvu is an Electronics Engineer with 20 years practical experience in the mining industry including service with ZCCM, the Zambian state mining company, and Kabwe Power and Metal Ltd prior to becoming a director of Zincorous Investments Ltd and Silverlining Ventures Ltd, both mining companies based at Kabwe, in 2000. Both of these Zambian directors have widespread experience, knowledge and contacts regarding the Kabwe stockpiles and mining operations.
Masoud Alikhani, Chairman, commented:
"We have confirmed the content of the leach plant tailings to the JORC Measured Standard, and the dumps contain a considerably higher grade of lead than that inferred by the historic assessments. This combined with the Wash Plant tailings gives BMR a significant asset and it is our intention to now begin to maximise its value.
"To this end we have strengthened our management team in Zambia commensurate with our expanding operations in the country. The next stage is to bring the site into production".
This release has been reviewed by Dennis Human, B.Sc. (Hons), Bus. Admin (Hons), Consulting Geologist in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies.
28 July 2011
Contacts:
Masoud Alikhani, Chairman, Berkeley Mineral Resources 020 7408 1181
Jonathan Wright / Stewart Dickson, Seymour Pierce 020 7107 8000
Michael Padley / Gary Middleton, Lothbury Financial Services 020 7868 2010
Notes for Editors
BMR is a minerals company with a primary strategy of investing in tailings processing. By accessing above-ground dump deposits with known grades and metallurgy, it avoids exploration or mining costs, has a secure licence and fixed environmental criteria, and can produce concentrates according to viability at current market prices.
The Kabwe deposits, located approximately 110km north of the Zambian capital Lusaka, were discovered in 1902. From 1906, Kabwe was a significant mine. By the time it closed in 1994, due to depletion of the massive sulphide mineralisation and lowered metal prices, it had produced about 1.8m tonnes of zinc, 800,000t of lead, 7,800t of vanadium pentoxide and lesser quantities of cadmium, silver and copper.
After closure, most of the mine complex was sold off on a piecemeal basis. BMR's overall strategy is to re-assemble the Kabwe dumps site into a single entity operating under a single Large Scale Mining Licence.
BMR has signed a MOU with Ng'wena Mining Resources under which it could acquire 76% of the copper tailings from the former Roan Antelope mine at Luanshya, 145 km north of Kabwe. The Roan Antelope deposit was discovered in 1902 by prospector William Collier who shot a buck which fell onto an outcrop of almost pure copper. It has mined copper since 1911 and the extensive tailings are all within 4km of the original mine.
For further information please see the Company's website at http://www.bmrplc.com.