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Metals of Africa finds highest ever lead and zinc grades in Gabon

Published: 09:10 07 Apr 2015 BST

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Metals of Africa (ASX:MTA) has discovered high grade lead and zinc from rock samples taken from mineralisation at the Kroussou Project in Gabon in early exploration work.

Results include grades up to 9.69% zinc and 33.1% lead.

Significantly, the results are the highest ever lead-zinc grades reported in Gabon according to the Ministry, and confirm the Kroussou Project is a highly prospective lead-zinc mineralised system.

Thin section analysis shows coarse grained and inclusion-free lead and zinc which is an encouraging indicator for simple beneficiation.

Adding further to the prospectivity of the project, further outcropping zinc-lead prospects have been discovered over a 50 kilometre area and additional assay results are expected in May 2015.

All exploration data will be assessed to assist in planning for a 2015 drill program.

History shows 1960’s BRGM drilling intersected shallow zinc dominant Zn‐Pb‐Ag mineralised lenses – and recent Metals of Africa work has verified this work and the project prospectivity.

The company has a 90% equity interest in Kroussou, with the remaining 10% Havilah Consolidated Resources - which is free carried by Metals of Africa for 2 years then must contribute or dilute to a 0.75% NSR.


More results pending


The current works program completed detailed mapping at Kroussou, with results currently being compiled which will include another batch of outcropping rock samples for laboratory analysis.

Results of these samples are expected in May 2015.


Analysis

Metals of Africa has had a very useful initial exploration program at its Kroussou project, so much so they are believed to be the highest grades recorded in the country according to the Gabon Ministry.

Further results are expected in May 2015.

The holding cost of the Gabon license is minimal, and does not impact on cash burn.

This allows Metals of Africa to focus its financial and management resources on its wholly-owned graphite projects in the Cabo Delgado province of Mozambique, which hosts the world's largest graphite deposits.

These include Syrah Resources' (ASX:SYR) Balama graphite resource and Triton Resources (ASX:TON) Nicanda Hill graphite project.

Metals of Africa's Montepuez Central project, while early exploration days has significant potential to become a tier 1 rated graphite asset, given the maiden drill hole intersected 145.6 metres at 9.60% TGC and 0.12% vanadium from 34 metres.

 

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