Commence drilling at Mitaba
02 May 2006 - 6:29PM
UK Regulatory
RNS Number:2554C
Zambezi Nickel Ltd
02 May 2006
2 May 2006
Commencement of Drilling at Mitaba
* Diamond drill programme commenced on 28 April 2006
* New prospecting licences issued over Mitaba and Paulwi
Zambezi Nickel Limited ("Zambezi" or the "Company") (AIM Codes: ZNI and ZNIO),
the AIM-quoted African nickel exploration and development company, today
announces that the diamond-drilling programme at its Mitaba Project has
commenced. The entire 4,540 metres programme is expected to be carried out
between April and August 2006.
Zambezi can also confirm that MR Nickel Limited, its wholly owned Zambian
subsidiary, was granted new prospecting licenses over Mitaba and Paulwi on 12
April 2006. As highlighted in Zambezi's Admission Document, Mwembeshi Resources
Limited agreed to transfer the prospecting rights over Mitaba and Paulwi to MR
Nickel Limited under the terms of an agreement dated 19 August 2005, with the
applications to transfer the projects into the name of MR Nickel Limited being
lodged with the Zambia Mines Department after Admission. A Zambian prospecting
licence confers exclusive rights to carry on prospecting operations for a period
of two years, renewable for up to six years from the initial granting, so
Zambezi has the potential to carry out exploration on these projects up to 12
April 2012.
Commenting on the announcement, Paul Rankine, CEO of Zambezi said, "The
commencement of drilling at Mitaba highlights our strategy to fast track our
prospects into production."
For more information, please contact:
Paul Rankine Laurence Read
Zambezi Nickel Limited Conduit PR
Tel: +44 20 7193 3728 Tel: +44 20 7429 6666
Mob: +44 795 280 7110 Mob: +44 797 995 5923
A PDF version of this release is available on the Zambezi website at
www.zambezinickel.com
ADDITIONAL INFORMATION
* African focused pure nickel exploration/development company
* Admitted to London's AIM Market in October 2005, raising #1.6 million
* Exploration rights over 3 prospects on 2 project areas (Mitaba &
Paulwi) in Zambia
* Identified a major nickel sulphide bearing structure which has been
trenched & drilled (Mitaba)
* Exploiting shared cost/infrastructure opportunities with AIM quoted
Zambezi Resources Limited
* Strong position from which to acquire nickel prospects in the region
* Strategy to fast-track regional nickel prospects into production
* First stage target - JORC Resource - Q4 2006
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLVLLBBQEBLBBD
Zambezi Nickel (LSE:ZNI)
Historical Stock Chart
From May 2024 to Jun 2024
Zambezi Nickel (LSE:ZNI)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Zambezi Nickel (London Stock Exchange): 0 recent articles
More Zambezi Nickel Ltd News Articles