AMN - NAMIBIA: Mining licence application submitted for NLZM project

North River Resources’ 100% held Namibian subsidiary, Namib Lead & Zinc Mining, has submitted a formal proposal to the Namibian Ministry of Mines and Energy in respect of its Namib project mining licence application.

The Namib Lead Zinc Mining Project which is centred on the underground Namib lead mine which was previously operational from 1968-1991. The project has a current JORC resource of 1,250,000 tonnes, with resulting underground in-situ metal inventory of 30,709 tonnes of lead, 80,640 tonnes of zinc and 1.76 Moz of silver.

The NLZM project is located 25km from the town of Swakopmund and 55km from the port of Walvis Bay.

Three ore bodies were mined previously, namely South, Junction and North. The bulk of production was from the South and Junction ore bodies which were developed to 7.5 and 7 Level respectively (each Level being approximately 30 metres). The North ore body was developed to 2 Level.

Cantor Mining & Metals says “the company’s ongoing 3800 metre drilling program at the Namib project, which is testing extensions at depth from the North and South orebodies, has returned intersections of 35.7 metres (true width of 9 metres) at 33.8% zinc and 5.8 metres (true width 2.0 metres) at 12.2% zinc and 10.9% lead. 18 holes (1767 metres) have been drilled to date with assays from first 11 reported so far.”

“Results reported to date indicate a continuation of mineralisation 80 metres below the existing northern part of the orebody, providing growing support for the company's confidence in delivering an increased resource estimate for the Namib project following completion of the drilling campaign. The company had hoped to finish the program by the end of June, but time lost due to lower than expected rig availability has delayed the work.

http://northriverresources.com

News courtesy of International Mining