North River Resources plc Maiden JORC Resource at Malachite Pan & JORC Upgrade at Koperberg

North River Resources plc Maiden JORC Resource at Malachite Pan & JORC Upgrade at Koperberg

North River Resources plc, the AIM listed resource company focussed on Southern Africa, is pleased to announce a maiden JORC Compliant Resource for the Malachite Pan deposit, on its 100% owned Witvlei Copper Project, and an upgrade of the JORC compliant resource at the Koperberg deposit, on its 100% owned Dordabis Copper Project, both located in Namibia.

Overview

  • Maiden JORC Compliant Resource at Malachite Pan:
    Indicated JORC Resource of 2.6Mt @ 1.36% copper ('Cu') for 35,699t contained Cu
    Inferred JORC Resource of 2.4Mt @ 1.11% Cu for 26,402t contained Cu
  • Upgraded JORC Compliant Resources at Koperberg:
    Indicated JORC Resource of 762,600t @ 1.14% Cu for 8,718t contained Cu
    Inferred JORC Resources of 617,600t @ 0.95% Cu for 5,863t contained Cu
  • Both the Malachite Pan and Koperberg deposits are open down-dip and mineralisation at Malachite Pan is open to the south-east - a further drilling programme to identify potential extensions is scheduled for Q2 2012
  • Metallurgical data for Malachite Pan and Koperberg is anticipated shortly and will improve the overall confidence in the resource models.  An update with respect to the metallurgical data will be released in due course.
  • Exploration activities underway to evaluate the resource potential of the broader project areas
  • Numerous prospects, at various stages of exploration, within close proximity to both targets

North River Managing Director David Steinepreis said, "I am delighted to announce our maiden JORC resource from our Malachite Pan deposit, which is shaping up to be a significant asset within our multi-commodity portfolio.  I believe that our confidence in these results will be further improved, following the receipt of the metallurgical test work data which we expect shortly.

"This maiden resource from Malachite Pan, in addition to our upgraded resource at Koperberg, provides the Company with a solid foundation for our copper resource inventory. We believe the Company has the ability to grow this resource inventory substantially, following the completion of the ongoing work detailed above, in addition to our exploration activities, mainly focussed on the Witvlei project area."

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