Zambezi Resources drilling reveals more high grade copper at Kangaluwi

Zambezi Resources (ASX: ZRL) has intersected further high grade copper from the diamond drilling  program at its Chisawa and Kalulu Prospects, part of the 100% owned Kangaluwi Copper Project in Zambia.

Zambezi is targeting a revised resource estimate for copper and gold, as the basis for a Bankable Feasibility Study (BFS) for the project.

The drilling program for 2011 has now been completed with a total of 22,183 metres reported from 94 holes, and results continue to underpin the robustness of the mineralisation associated with the project.

New assay highlights include:

Kalulu Prospect

- 8 metres at 0.74% TCu from 68 metres;
- 6 metres at 1.26% TCu from 41 metres; and
- 15 metres at 0.73% TCu from 87 metres.

Chisawa Prospect

- 16 metres at 1.34% TCu from 58 metres;
- 23 metres at 1.08% TCu from 117 metres; and
- 17 metres at 1.08% TCu from 53 metres.

Kalulu Prospect

At the Kalulu Prospect a total of 44 diamond holes for 9,530 metres were drilled and mineralisation is currently interpreted over a strike length >1.2 kilometres, within a sheared, regional east-plunging syncline.

Previous exploration drilling along strike of the geochemical anomaly has been selectively in-filled between and along reverse circulation and diamond drill sections, resulting in drill coverage designed to begin the resource classification process.

Significantly, assay results from hole KLUDD0045 have indicated that mineralisation is still open down dip and across strike, requiring further development drilling to evaluate the resource potential to the east and at depth.

Further assay results pending will provide information that will assist in unlocking the resource potential of the Kalulu prospect.

Diamond core samples have been given high priority for analysis and results are expected by the end of December 2011.

Chisawa Prospect

At the Chisawa Prospect previous exploration drilling along strike of the geochemical anomaly has been selectively in-filled between and along reverse circulation and diamond drill sections to a 100m x 100m grid.

A total of 40 diamond drill holes have been drilled so far for 8,631 metres along its 3 kilometre mineralised corridor.

Results will aid future resource estimation, as well as advancing the current Inferred to an Indicated JORC Resource.

Kangaluwi Phase II and Kalulu logging and sampling programs have been completed, while Chisawa Phase II core analysis is ongoing. A detailed revision and re-sampling program of historic diamond core is also underway.

All assay results should be available in the New Year for delivery to AMC Consultants Pty Ltd for compilation into an auditable database, which will meet JORC Code requirements.

Numerous geophysical targets in the Kangaluwi Project area are yet to be evaluated, with only one quarter of the 28 kilometre strike length drill tested to date.

Current Mineral Resource estimates for the project stands at 23.4 million  tonnes grading 0.85% copper for 200,000 tonnes contained copper from the Kangaluwi and Chisawa prospects. Additional resource is anticipated from the Kalulu prospect.

The current 22,000 metre drilling program will form the basis of a revised Mineral Resource estimate for copper and gold, as a basis for a future BFS.

Positive response from Zambian Government on Mineral Policy

The Government of the Republic of Zambia has confirmed that it will pursue policies that are credible, consistent and predictable, particularly in the minerals sector, which the Government considers to be the nerve centre of the Zambian economy.

The Government welcomes foreign investment and will encourage that minerals are exploited to the mutual benefit of the citizens and the investor. The Government is promoting investment in exploration in order to open up other areas in the country to mineral development.

Zambezi Resources is in a firm position with its investment in Zambia through its wholly-owned subsidiary company, Mwembeshi Resources Ltd.

Corporate

The company has secured a two year employment contract Robert McPherson, as country manager geology, who will be based in  Zambezi's Lusaka Office.

McPherson has over 18 years of experience and was previously manager geology/geotechnical for the Syama Gold Project in Mali West Africa from 2009-2011.

In 2008-2009 he was recruited by Glencore International (LON:GLEN) to manage the Feasibility Study of the Vasilkovsky Gold Project Joint venture  in Kazakhstan.

Originally published at: http://seekingalpha.com/instablog/485861-proactive-investor/245463-zambezi-resources-drilling-reveals-more-high-grade-copper-at-kangaluwi