Igurubi Project Update

Igurubi Project Update

IN-HOUSE MODELLING OF AFRICAN EAGLE'S
IGURUBI PROJECT IN TANZANIA OUTLINES A 700,000OZ GOLD DEPOSIT

  • Modelling outlines a 700,000 ounce gold deposit
  • Considerable upside potential, including four prime drill ready targets
  • Partner sought to advance exploration

African  Eagle  Resources  today  announces  it  has  calculated   an 'in-house' figure of 700,000 ounces of gold at its Igurubi project in Tanzania, based on polygonal deposit modelling using drill data  from 2005 to 2008.

African  Eagle's  Managing  Director   Mark  Parker,  comments   'Our geologists' detailed evaluation of the exploration data from  Igurubi has paid dividends, showing that the project hosts a significant gold deposit.  Although the drill data are not detailed enough to support a formal resource estimate, the modelling gives strong indications of the potential for least 700,000 gold ounces. It also shows us exactly where confirmation drilling is required.

'African Eagle's priority for 2009 remains our major nickel discovery at Dutwa, so we shall be looking for a partner to join us in the development of Igurubi.  The new evaluation nonetheless contributes significantly to our growing asset base in Tanzania.'

The Igurubi project area hosts a suite of north-west trending quartz veins over  a  strike  length   of  at  least  6km.  African   Eagle investigated several of these veins between 2005 and 2008, drilling 166 air core and 76 reverse circulation drill holes for a total  of 15,574m.  See the web site for more detail and maps.

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