Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

North River Resources plc hits high grade zinc at Namib

Further drilling at its flagship Namib lead-zinc project in Namibia has hit high grade mineralisation and underlined the site's resource potential, North River Resources plc told investors today.
North River Resources plc hits high grade zinc at Namib
More drilling results from North River Resources today...

--- ADDS SHARE PRICE RISE---

Further drilling at its flagship Namib lead-zinc project in Namibia has hit high grade mineralisation and underlined the site's resource potential, North River Resources plc (LON:NRRP) told investors today.

It came as the group updated on current work and said it was mulling options for raising further funds.

The current drilling is being carried out below the current North resource and, in one  hole,  an "outstanding" high grade intersection of 57 metres at 28.6% zinc extended mineralisation a further 80 metres.

Fourteen holes have been sunk, with eight reported today, of which four hit "significant" minrealisation, the firm said.

Chief executive James Beams said: "It is very pleasing to see our confidence in the further geological potential of the Namib project being borne out by these initial results from the drilling campaign carried out from the 5-level development drive.

"Whilst NLDD067 is only one drill hole, with a low angle to the trend of the intersection, the exceptional grade and consistency of mineralisation augurs well as we look to grow the resource base."

As revealed previously, the firm accepted the government ministry's "notice of preparedness" to grant a mining licence and now has 60 days to submit a proposal addressing supplementary terms and conditions.

North River added to day it would shortly require further working cap funding to cover ongoing corporate costs and the revised project work programme.

Shares added 13.79% to stand at 0.0825p.

View full NRRP profile View Profile

North River Resources plc. Timeline

Related Articles

drillrignewangle.jpg
September 19 2017
Peter Bird has a clear idea of his task: to get the BKM deposit in production as quickly and seamlessly as possible
AuKing Mining: Access latest PPT from Proactive's CEO Sessions
June 18 2017
Paul Williams talked gold-silver potential of Mexico with investors.
oro-verde-banded-quartz-veins-757.jpg
February 14 2017
Find out more from Trevor Woolfe at Proactive's CEO Spotlight Sessions.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use