Weatherly International Plc Regulatory News (WTI)

23 Oct 2007 13:49

Weatherly International PLC23 October 2007 Drilling Results from Gross Otavi Deposit Weatherly International plc, the AIM listed integrated base metals producer withcopper mining and smelting operations in Namibia, is pleased to announcepositive results from the drilling campaign at Gross Otavi, an advancedexploration target approximately 14 kilometres east of Kombat. Gross Otavi is a shallow orebody (between 60 and 100 metres below surface) whichwas estimated by Goldfields (and classified by RSG Global as inferred in 2006)to contain 158,000 tonnes at 1.5% copper and 6% lead. Encouraged by the high lead price, combined with the ability of the Kombatconcentrator to treat both lead and copper ores, Weatherly is conducting afeasibility study to examine the potential of Gross Otavi as a small satellitemine. The mine development would be relatively straightforward as the Kombatconcentrator and processing infrastructure is already in place and functioning.The feasibility study will be completed shortly, with a development decisionexpected by year end. As part of the feasibility, a drilling campaign of 13 RC holes to confirm thedeposit's mineralisation was undertaken. A number of spectacular intersectionswere recorded and a number of holes abandoned in ore because of cavities withinthe rock. All holes were relatively shallow and there is good potential for themineralisation to continue at depth. A detailed summary of the drill intersections is listed below. Hole Hole Assay Results Width(m) No. depth From (m) To (m) Cu (%) Pb (%) Zn (%) Ag (g/t) VT1 130 69 70 0.9 3.17 0.05 Tr. 1 129 130 0.37 1.41 0.11 Tr. 1 VT2 130 116 124 0.28 1.07 0.04 4 8 VT3 162 69 72 0.28 1.51 0.70 2 3 79 81 1.42 4.55 0.08 4 2 99 121 4.16 8.84 0.22 38 22 121 129 0.36 1.12 0.02 3 8 157 162 0.38 1.41 0.02 Tr 5 VT4 130 87 107 0.55 3.86 0.04 1 20 122 128 0.20 0.63 Tr Tr 6 VT5 150 74 77 0.73 1.23 Tr Tr 3 97 105 0.33 3.25 Tr 3 8 116 119 0.31 2.69 Tr 5 3 VT6 83 71 83 0.88 14.42 1.22 11 12 VT7 145 84 114 4.28 7.47 0.23 4 30 132 137 1.96 1.59 0.06 5 5 Hole Hole Assay Results Width(m) No. depth From (m) To (m) Cu (%) Pb (%) Zn (%) Ag (g/t) VT8 63 not assayed VT9 150 98 109 Tr Tr Tr Tr VT10 63 45 63 2.53 12.25 1.68 14 18 VT11 103 80 103 0.06 0.13 Tr Tr 23 VT12 98 not assayed, abandoned due to cavity VT13 46 not assayed, abandoned due to cavity Duplicate samples have been submitted to referee labs for QA/QC checks and theresults are still pending. The drilling results contained in this release have been reviewed by Renias RMukwashi, B.Sc. Geology Hons. SACNASP Reg 400080/07, Senior Geologist, TsumebMines, Weatherly Mining Namibia, who is a qualified person for the purposes ofthe AIM Guidance Note for Mining Oil and Gas Companies issued on 16 March 2006. For further information contact: Weatherly InternationalJohn Norris, Company Secretary +44 (0) 207 868 2232Paul Craven, Chief Financial Officer Libertas CapitalJakob Kinde, Stephen Pickup +44 (0) 207 569 9650 BuckBiasAlex Buck +44 (0) 207 244 8053 +44 (0) 7932 740 452 This information is provided by RNS The company news service from the London Stock Exchange