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4 Jul 2011 07:00
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Noventa Limited
("Noventa" or the "Company")
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RESULTS OF DRILLING PROGRAMMES AT MARROPINO NORTHEAST AND AT MARROPINO SOUTH
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4 July 2011
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Noventa (TSX: NTA; AIM: NVTA; PLUS: NV) updates shareholders on the drilling results of its exploration programme at locations to the northeast and south of its existing Marropino mine, within its mining licence area.
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Core samples from diamond drilling programmes carried out at Marropino Northeast (9 holes) and at Marropino South (6 holes) in March and April 2011 were submitted to the ALS laboratory in Johannesburg and the Inspectorate Metals and Minerals laboratory in Rustenburg, South Africa. The final results of this analytical work have now become available.
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In the Marropino Northeast area the maximum values of 61 ppm Ta2O5 (50 ppm Ta) were obtained over the following intersection widths (table 1):
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Drillhole No. | Depth from | Depth to | Intersected width | Ta2O5 ppm |
MN 1 | 39.40 | 40.40 | 1 | 61 |
MN 1 | 41.40 | 42.40 | 1 | 61 |
MN 4 | 34.30 | 35.50 | 1.30 | 61 |
MN 6 | 8.50 | 9.80 | 1.30 | 61 |
MN 6 | 53.65 | 54.80 | 1.15 | 61 |
Table 1. Summary of Marropino NE maximum values - the detection limit was 10 ppm.
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All other Ta2O5 values obtained were lower. It is therefore considered that the Marropino Northeast pegmatite body does not constitute an economic resource.
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Of the six diamond drillholes completed in the Marropino South area, five intersected pegmatite over significant widths. Analytical work carried out by ALS Johannesburg yielded the following results in excess of 61 ppm Ta2O5 (table 2):
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Drillhole No. | Depth from | Depth to | Intersected width | Ta2O5 ppm |
DHMS02 | 21.00 | 22.00 | 1 | 98 |
DHMS03 | 36.38 | 37.38 | 1 | 61 |
DHMS04 | 16.36 | 17.36 | 1 | 98 |
DHMS05 | 7.17 | 8.17 | 3 | 61 |
DHMS05 | 15.17 | 16.17 | 1 | 61 |
DHMS05 | 38.17 | 39.17 | 1 | 61 |
DHMS05 | 40.17 | 41.17 | 1 | 61 |
Table 2. Summary of Marropino S maximum values - the detection limit was 10 ppm.
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On the basis of these results, it is concluded that the pegmatite drilled does not contain economic concentrations of Ta2O5.
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Scientific and technical information contained in this press release has been prepared under the supervision Declan A. Sheeran, BA. MSc MAusIMM (306636) who is a "qualified person" in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The author is a paid consultant to Noventa-HAMC but has no other monetary or beneficiary links to the company.
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For further information please contact:
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Eric F. Kohn TD
Chairman
Noventa Limited
+41 22 8500560
+41 79 5030150
www.noventa.net
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Nick Harriss/EmilyΒ Staples
Religare Capital Markets (UK) Limited (Nominated Adviser)
+44 20Β 7444 0800
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Daniel BriggsReligare Capital Markets plcΒ (Broker)+44 20Β 7444 0500
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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Certain information contained or incorporated by reference in this release, including any information as to the Noventa's strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, constitutes "forward-looking statements" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements can often, but not always, be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words; or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
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Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Noventa as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are also cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Noventa to differ materially from those expressed or implied in the forward-looking statements. Certain of these risks and uncertainties are described in more detail in Noventa's Annual Information Form dated March 15, 2010, which is available on SEDAR at www.sedar.com.
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Although Noventa has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this document based on the opinions and estimates of management on the date statements containing such forward looking information are made, and Noventa disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information.
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