News blog

China Africa Resources

  • BY: Andrew Hore |
  • POSTED: 16/04/2013 |

China Africa Resources has announced a maiden JORC resource for the Berg Aukas zinc/lead project in Northern Namibia.

The news pushed the share price up 2.75p to 24.25p, which values China Africa Resources at £5.6m.

The resource is 1.265m tonnes at 15.5% zinc, 3.8% lead and 0.33% vanadium at a cut-off grade of 3% zinc. This is similar to an estimate from 1977. Further drilling will be required to assess silver grades.

There is already an 800m shaft and underground infrastructure and this should still be usable, depending on the findings of the feasibility study.

The ore is soft and believed to be relatively coarse, which should reduce processing costs. There should be further news of metallurgical test work in the first half and the feasibility study for Berg Aukas should be completed by the end of the year.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2013_43.pdf

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds