DWY dwyka resources limited

dwyka annual report bhp project

  1. 140 Posts.
    Extract below regarding Muremera project with BHP - some people believe this may be massive.....

    jaguar2001

    http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1589637&source=RNS


    Final Results and Annual Report

    Dwyka Resources Limited ('Dwyka' or the 'Company')

    Final Results and Annual Report


    "In the subsequent months, the implementation of this strategy has
    seen the company acquire interests in two exciting new projects - the
    Muremera nickel project, located in Burundi and owned by Dwyka's
    wholly-owned subsidiary Danyland Limited ('Danyland') was acquired in
    February 2007 and the Swazigold project, located in Swaziland, in
    respect of which the Company has a 45% overall interest as a
    consequence of its 50% shareholding in Swazi Gold Ventures (Pty) Ltd
    ('SGV'), the holder of a 90% interest in the project vehicle; the
    acquisition of which was completed in July 2007.

    The Muremera nickel project is located within 2 kilometres of the
    Kabanga project, the world's largest undeveloped nickel sulphide
    deposit. Located just across the border in Tanzania, Kabanga was
    discovered in 1976 by the United Nations Development Programme
    ('UNDP'). Further UNDP surveys in 1978 resulted in the discovery of
    the prospective Muremera deposits on the Burundi side of the border.
    The anomalies have similar characteristics and further follow-up work
    by the UNDP confirmed that massive sulphide bodies, with nickel
    mineralisation, are the source of the anomalies. Extensive geophysics
    and geochemical surveys have delineated numerous targets and these
    are in the process of being drilled by BHP Billiton World
    Exploration, Inc. ('BHPB') pursuant to an Earn-in and Shareholders
    Agreement that will see the Company free-carried to the resource
    concept study phase in consideration of the acquisition by BHPB of an
    interest of up to 50% in Danyland."

 
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