TIDMAFP
RNS Number : 5207M
African Pioneer PLC
24 May 2022
24 May 2022
African Pioneer Plc
("African Pioneer" or "the Company")
Drilling Programme at Ongombo Project in Namibia
African Pioneer plc ("APP" or the "Company"), the exploration
and resource development company with projects located in Namibia,
Botswana and Zambia, is pleased to inform shareholders that,
further to the announcement 9 February 2022, a shallow diamond
drilling programme has commenced on the Ongombo Project,
Namibia.
Highlights:
-- 25 to 30-hole shallow diamond drill programme has commenced on the Ongombo Project
-- 6 holes completed to date with all holes intersecting
encouraging sulphide mineralisation with chalcopyrite at shallow
depths
-- Visual estimates of chalcopyrite content in the mineralised
zones indicate notable quantities of copper sulphide to date
-- Drill programme designed to test near-surface oxide and sulphide copper-gold mineralisation
-- Work also underway to resample historic drill core to test
for elevated gold values in and around copper mineralisation
Colin Bird, Chairman of African Pioneer, said:
"I am delighted with these early results from our drilling
programme, particularly since the core appears to be sulphides
close to surface. The programme has the intend to identify a small
open pit and thereafter proceed ex highwall to commence underground
mining. The programme continues and we look forward to the results
to finalise mine planning. We are pleased that we have gained
access to more drill core, and we intend to specifically test for
gold, both in quantum and process characteristics. I am very
pleased with the progress in fast tracking the Ongombo
Project."
Ongombo Project Near-surface Drill Programme
Six holes have been completed to date. Assessment of the
potential of the mineralised zone at this stage in the evaluation
process is based on visual estimates of copper sulphide content,
occurring as chalcopyrite and relies on the experience of the
geologist managing the drilling programme and logging core to
assess the proportion of visible chalcopyrite relative to pyrite
and other minerals making up the mineralised horizon.
Visual estimates of copper content do not reflect the expected
assay grade of the mineralised horizon but do indicate the extent
of chalcopyrite mineralisation.
Table 1: Mineralised Widths of First Six Drillholes Completed on
Near-Surface Drill Programme on the Ongombo Project
Hole ID From To Mineralised* End Of Hole
(m) (m) Width (m)
(m)
APD001 11.81 14.81 3.0 17.45
APD002 21.27 22.27 1.0 29.78
APD003 7.30 11.86 4.56 17.86
APD004 20.59 21.50 0.91 26.83
APD005 11.4 13.05 1.65 17.81
APD006 36.5 38.1 1.60 56.99
The following link is to a picture of drill core from APD002,
APD003, APD004 and APD005 showing visible chalcopyrite
http://www.rns-pdf.londonstockexchange.com/rns/5207M_1-2022-5-23.pdf
The gossanous outcrop at Ongombo has been assumed to be the
surface expression of the mineralisation drilled at depth to
generate the current Ongombo Mineral Resource Estimate. African
Pioneer has projected this same mineralisation to extend to surface
through to the gossan outcrop. It has been assumed that previous
exploration drilling ignored the near-surface potential on the
basis that copper oxide mineralisation, at the time that Gold
Fields Namibia Limited was exploring, was not conducive to good
metal recover. Today however, flotation processing has the capacity
to recover economic quantities of oxide and sulphide copper in
parallel in the same flotation processing plant making any shallow
mineralisation a valid target for development. African Pioneer will
test the shallow mineralisation potential over a strike length of
approximately 1 kilometre and down dip of the gossan outcrop to the
point where historic drilling occurs.
Assessment of Gold Grades in Historic Drill Core
Approximately 80 drillholes have been found that were completed
by previous explorers including Gold Fields Namibia Limited. The
Company intends to resample the drill core in and around the
mineralised horizon in each case in order to assess the
distribution of gold attributable to the existing Mineral Resource
Estimate.
Historically limited gold assaying was undertaken, so only
low-grade gold values have been reported as any grade less than
1g/t Au was considered insignificant, particularly when exploration
was being undertaken by South African companies more used to
significantly higher gold grades on their deep level gold mines and
as a consequence, only. At the current gold price, and in
conjunction with known copper grades, there is scope for an
important by-product addition of gold in the Mineral Resource. A
greater density of gold assay data covering the existing Mineral
Resource generated by resampling of available core has the scope to
add to the value of each tonne of ore defined to date.
For further information, please contact:
African Pioneer Plc
Colin Bird
Executive Chairman +44 (0) 20 7581 4477
Beaumont Cornish (Financial Adviser)
Roland Cornish +44 (0) 20 7628 3396
Novum Securities Limited (Broker)
Jon Belliss +44 (0) 20 7399 9400
or visit https://africanpioneerplc.com/
Qualified Person:
The technical information contained in this announcement has
been reviewed, verified, and approved by Colin Bird, CC.ENG, FIMMM,
South African and UK Certified Mine Manager and Director of African
Pioneer plc, with more than 40 years' experience mainly in hard
rock mining.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
Glossary
A 'Mineral Resource' is a concentration or occurrence of solid
material of economic interest in or on the Earth's crust in such
form, grade (or quality), and quantity that there are reasonable
prospects for eventual economic extraction. The location, quantity,
grade (or quality), continuity and other geological characteristics
of a Mineral Resource are known, estimated or interpreted from
specific geological evidence and knowledge, including sampling.
Mineral Resources are sub-divided, in order of increasing
geological confidence, into Inferred, Indicated and Measured
categories.
An 'Indicated Mineral Resource' is that part of a Mineral
Resource for which quantity, grade (or quality), densities, shape
and physical characteristics are estimated with sufficient
confidence to allow the application of Modifying Factors in
sufficient detail to support mine planning and evaluation of the
economic viability of the deposit.
An 'Inferred Mineral Resource' is that part of a Mineral
Resource for which quantity and grade (or quality) are estimated on
the basis of limited geological evidence and sampling. Geological
evidence is sufficient to imply but not verify geological and grade
(or quality) continuity. It is based on exploration, sampling and
testing information gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill
holes.
"Ag" Silver
"Au" Gold
"Cu" Copper
"g/t" grammes per tonne
"Kt" thousand tonnes
"Mt" million tonnes
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END
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