Apparently we are after diamonds now. In all seriousness though it did make me realise that we are only six weeks away from completion of the drilling program. Surely results must flow soon.
Cheers Nacra
British firm expects positive results in finding diamond in Zambia (philstar.com) Updated July 13, 2011 05:40 PM Comments (0) View comments
LUSAKA (Xinhua) ? A British company engaged in the exploration for copper, gold and uranium in sub-Saharan Africa has expressed confidence that its exploration for diamonds in Zambia would produce positive results, the Zambia Daily Mail reported on Wednesday.
Zambezi Resources Limited has been drilling for diamonds at its Kangaluwi copper project in Zambia's Chongwe district east of the capital Lusaka which was scheduled for completion next month. The company was conducting the 3.5 million U.S. dollars project through its Zambian subsidiary- Mwembeshi Resources Pty Limited, according to Daily Mail.
Frank Vanspeybroeck, the company's chief executive officer, said in a statement that the project was progressing well and was ahead of schedule.
"We anticipate the first results in the coming weeks and we are confident that the drilling program will be finalized ahead of time by August 2011," he was quoted as saying by the paper.
He said the drilling had increased confidence on the mineral resources and that so far 38 diamond drill holes were drilled for 7,098 meters and have been sent to the laboratory for examination.
Zambezi Resources Limited is a Britain-based company. It is engaged in the exploration for copper, gold and uranium in sub- Saharan Africa. The company has identified nine major project areas, which it is actively exploring.
The Kangaluwi copper project consists of the Kangaluwi, Chisawa, Imboo and Kalulu prospects and a number of unnamed targets, which covers approximately 25 percent of the company's license.
ZRL Price at posting:
2.3¢ Sentiment: LT Buy Disclosure: Held
