ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

Berkeley Resources Announces Mineral Upgrade

Share On Facebook
share on Linkedin
Print

Tailings processsing company Berkeley Mineral Resources (LSE:BMR) announced on Wednesday its continued verification and assessment work at the Kabwe mine in Zambia.  BMR shares were trading 4.3% higher at 2.4p by mid-morning trading.

The announcement comes in connection with the pre-feasibility study being conducted on the resources at the project, washplant, slags, and leachplant.

Announcement Updates

Drilling

According to the statement, re-drilling of the slag sections of the mine stockpiles commenced today in order to collect data on the material contained within. The company is using percussion drills to obtain assayable samples.

Washplant Resources

After re-measuring the level of resources, the company announced an increase to 573,458 dry tonnes from their previous report of 503,189. The site contains lead and zinc, with the lead grade falling to 7.21% from a previously estimated 7.38% and the zinc grade increasing to 10.66% from 10.45%.

The resources were estimated by Mr. D R Young, a registered professional natural scientist with the South African Council for Natural Scientific Professions.

Leachplant Resources

The company announced that drilling of the remainder of the tailings in the central and southern Leachplant sections is proceeding.

Samples that have been extracted during the drilling process are being sent to the SGS assaying centre in South Africa for verification, says the company. Once the samples have all been collected, the final resource statement will be compiled by The Mineral Corporation, while the pre-feasibility study will be concluded by Metanza.

Company Spotlight

Berkeley Mineral Resources Plc is an AIM listed mineral processing company with an operational focus on Southern Africa, specifically in Zambia.

The company’s strategy is to process tailings at former mines, currently extracting zinc and lead from the tailings dumps in the famous Kabwe mine in Zambia.

The Kabwe mine was in operation from 1906 until 1994 and the tailings dumps still have a considerable amount of residual base metals.

There is also an environmental advantage to extracting the resources from these dumps, as removing these dumps will significantly reduce pollution problems that have existed in the region after 80 years of mining and producing wastes.

Further advantages for the company include an existing infrastructure of roads, power, and railways.

BMR has signed a Memorandum of Understanding with Ng-wena Mining Resources under which it could acquire 76% of the copper tailings from the Roan Antelope mine at Luanshya in Zambia.

References
↑ Berkeley Mining Update
 BMR Overview

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com