16 Dec 2008 07:00
BERKELEY MINERAL RESOURCES PLC
Positive Assay Results from Kabwe
Berkeley Mineral Resources Plc ("BMR" or the "Company"), is pleased to announce the results from two independent random samples that were collected from the old dumps at the Kabwe lead-zinc mine in Zambia which closed in 1994. Assay results are as follows:
Dump 57: reported values of 4.54% lead and 8.61% zinc. The only other mineral of significance in the sample is vanadium which assayed at 0.42%
Dumps 21/22: returned values of 1.04% lead, 7.88% zinc and 0.73% vanadium.
The dumps also contain minor amounts of copper (up to 0.15%), manganese (up to 0.18%) and silver (up to 14.4g/t) which may be recoverable and thus contribute further smelter credits.
Values of arsenic, cadmium, bismuth and antimony are all very low and would not attract smelter penalties.
The March 2008 MRI report on the Kabwe dump materials noted that no historic sampling had been carried out for minor metals and rare earth elements, materials which are now in high demand. The recent sampling showed that gallium, germanium and indium are present in insignificant quantities and add no value to the resource base. Results for rare earth elements are still pending.
The above results confirm that the metal values reported by MRI in March are reliable. Tonnage estimates have yet to be verified.
Masoud Alikhani, Chief Executive, Berkeley Mineral Resources plc commented:
"These are excellent results and show that we have a viable, valuable project despite recent price movements. We expect to commence work on site shortly and be cash generative once concentrate shipments commence in 2009."
16 December 2008
For further information please contact:
| Masoud Alikhani | 020 7408 1181 |
| Berkeley Mineral Resources Plc | |
| Michael Padley / Ron Marshman | 020 7011 9411 |
| Lothbury Financial |
Editors' Note
The Kabwe mine is located next to Kabwe town, approximately 110 kms north of Lusaka, the capital of Zambia. The mine was discovered during 1902 and operated for 88 yrs from 1904 and produced about 1.8 million tonnes of Zinc, 0.8 million tonnes of Lead, and as by products, fused Vanadium Oxide (7,820 tonnes), Cadmium (235 tonnes) and Silver (79 tonnes). Plans are currently being prepared to reopen the mine later this year.
Recently the Kabwe deposits have attracted renewed interest due to rising resource prices, advances in ore processing technology, the economic potential not only for the Zinc and Lead mineralisation but also due to the presence of Gallium, Germanium, Indium and rare earths (Lanthanide, Scandium and Yttrium) as trace elements which could substantially enhance the value of the tailings.