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TREK METALS LIMITED — Capital/Financing Update 2011
Sep 21, 2011
65923_rns_2011-09-21_afbd73e7-6cad-4aae-9558-693a6c667327.pdf
Capital/Financing Update
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ZAMBEZI RESOURCES LIMITED ARBN: 124 462 826 BERMUDA ZAMBIA AUSTRALIA CANON’S COURT PLOT 5697 LEVEL 1, 17 ORD STREET 22 VICTORIA STREET BEU CRESCENT WEST PERTH, WESTERN AUSTRALIA HAMILTON HM12 KALUNDU AUSTRALIA 6005 LUSAKA TEL: +61 8 6555 1879 TEL: +260 211 292101 FAX: +61 8 9398 4104 EMAIL: [email protected] PO BOX 1796, WEST PERTH WWW.ZAMBEZIRESOURCES.COM WESTERN AUSTRALIA, 6872
ASX Announcement 22 September 2011
High Grade Copper Results from the Kangaluwi Copper Project
New Assay Results Received from Diamond Drilling (DD) at the
100% Owned Kangaluwi Copper Project Include:
Chisawa Prospect
Kalulu Prospect
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25.0 m @ 1.27% Cu from 159 m
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8.0 m @ 1.28% Cu from 113 m
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11.0 m @ 1.25% Cu from 131 m
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10.0 m @ 1.20% Cu from 194 m
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5.0 m @ 1.58% Cu from 87 m
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3.5 m @ 1.49% Cu from 92 m
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4.0 m @ 1.22% Cu from 81 m 5.0 m @ 1.07% Cu from 94 m
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FIGURE 1: PROJECT LOCATION
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The Directors of Zambezi Resources Limited (ZRL) are pleased to provide the second batch of assay results from the DD program from its Chisawa and Kalulu Prospects, part of the 100% owned Kangaluwi Copper Project (the Project) in Zambia (Figure 2).
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FIGURE 2: 250KM[2] MINING LICENCE AND KANGALUWI COPPER PROJECT PROSPECTS
1.0 Kalulu Prospect
At the Kalulu Prospect, a total of 37 DD holes for 7,811 m were drilled over a 1.2 km mineralised strike length. The drill program was completed at 100 m intervals, both between and along RC drill sections. This will result in a 50 m x 50 m grid drill coverage and should advance the Kalulu resource to Indicated Mineral Resource Category.
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FIGURE 3: MAP SHOWING DRILLED DD HOLES AT KALULU
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Current results are sourced from 9 DD holes drilled along sections 10300E, 10400E, 10450E, 10550E and 10600E, with significant intersections tabulated below.
Hole KLUDD011 drilled on section 10300E went through variably altered quartz-biotite schist and garnet altered biotite-amphibole schist lenses. The main ore zone of foliation controlled chalcopyrite and disseminated bornite is from 194 m to 204 m.
On sections 10400E at flat ore zone of well mineralised, disseminated chalcopyrite and massive pyrite was intersected in KLUDD0012 (82 m to 85 m) KLUDD0015 (113 m to 121 m) and KLUDD0017 (94 m to 99 m) in the garnet-biotite-muscovite schist.
On section line 10450E, chalcopyrite mineralisation is visible from 79 m to 85 m in KLUDD0016 and in KLUDD0018 on section 10550E from 67 m to 77 m.
On section line 10600E, KLUDD0020 intersected malachite from 48 m to 50 m and disseminated chalcopyrite from 92 m to 104 m, and KLUDD0021 had disseminated chalcopyrite from 68 m to 75 m.
TABLE 1: KALULU PROSPECT – DD DRILLING ASSAY RESULT
| Hole_ID | Northing | Easting | RL | EOH Depth | Inclination | Azimuth | mFrom | mTo | mWidth | Cu% | Intercept |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KLUDD0011 | 8289981 | 784444 | 669 | 213.00 | -60 | 320 | 13.00 | 17.00 | 4.00 | 0.62 | 4m@ 0.62 % TCu |
| KLUDD0011 | 8289981 | 784444 | 669 | 213.00 | -60 | 320 | 133.00 | 139.00 | 6.00 | 0.83 | 6m@ 0.83 % TCu |
| KLUDD0011 | 8289981 | 784444 | 669 | 213.00 | -60 | 320 | 145.60 | 148.46 | 2.86 | 0.57 | 2.86m@ 0.57 % TCu |
| KLUDD0011 | 8289981 | 784444 | 669 | 213.00 | -60 | 320 | 188.80 | 191.00 | 2.20 | 0.55 | 2.2m@ 0.55 % TCu |
| KLUDD0011 | 8289981 | 784444 | 669 | 213.00 | -60 | 320 | 194.00 | 203.87 | 9.87 | 1.20 | 9.87m@ 1.20 % TCu |
| KLUDD0012 | 8290087 | 784464 | 650 | 177.00 | -60 | 320 | 56.00 | 59.70 | 3.70 | 0.70 | 3.70m@ 0.70 % TCu |
| KLUDD0012 | 8290087 | 784464 | 650 | 177.00 | -60 | 320 | 82.00 | 83.35 | 1.35 | 1.54 | 1.35m@ 1.54 % TCu |
| KLUDD0012 | 8290087 | 784464 | 650 | 177.00 | -60 | 320 | 84.00 | 85.00 | 1.00 | 0.57 | 1m@ 0.57 % TCu |
| KLUDD0013 | 8290159 | 784413 | 627 | 149.90 | -60 | 320 | 125.00 | 127.00 | 2.00 | 0.43 | 2m@ 0.43 % TCu |
| KLUDD0015 | 8290010 | 784536 | 627 | 207.00 | -60 | 320 | 84.00 | 86.00 | 2.00 | 0.48 | 2m@ 0.48 % TCu |
| KLUDD0015 | 8290010 | 784536 | 627 | 207.00 | -60 | 320 | 108.00 | 108.80 | 0.80 | 3.96 | 0.80m@ 3.96 % TCu |
| KLUDD0015 | 8290010 | 784536 | 627 | 207.00 | -60 | 320 | 113.00 | 121.00 | 8.00 | 1.28 | 8m@ 1.28 % TCu |
| KLUDD0016 | 8290078 | 784568 | 617 | 198.00 | -60 | 320 | 75.00 | 76.00 | 1.00 | 0.57 | 1m@ 0.57 % TCu |
| KLUDD0016 | 8290078 | 784568 | 617 | 198.00 | -60 | 320 | 79.00 | 85.00 | 6.00 | 0.66 | 6m@ 0.66 % TCu |
| KLUDD0017 | 8290050 | 784513 | 625 | 206.00 | -60 | 320 | 82.00 | 89.00 | 7.00 | 0.77 | 7m@ 0.77 % TCu |
| KLUDD0017 | 8290050 | 784513 | 625 | 206.00 | -60 | 320 | 94.00 | 99.00 | 5.00 | 1.07 | 5m@ 1.07 % TCu |
| KLUDD0017 | 8290050 | 784513 | 625 | 206.00 | -60 | 320 | 197.00 | 198.00 | 1.00 | 0.45 | 1m@ 0.45 % TCu |
| KLUDD0018 | 8290150 | 784628 | 628 | 193.90 | -60 | 320 | 67.80 | 77.00 | 9.20 | 0.88 | 9.2m@ 0.88 % TCu |
| KLUDD0018 | 8290150 | 784628 | 628 | 193.90 | -60 | 320 | 163.00 | 165.00 | 2.00 | 0.89 | 2m@ 0.88 % TCu |
| KLUDD0020 | 8290154 | 784696 | 643 | 225.00 | -60 | 320 | 48.00 | 50.00 | 2.00 | 0.75 | 2m@ 0.75% TCu |
| KLUDD0020 | 8290154 | 784696 | 643 | 225.00 | -60 | 320 | 92.00 | 95.50 | 3.50 | 1.49 | 3.5m@ 1.49% TCu |
| KLUDD0020 | 8290154 | 784696 | 643 | 225.00 | -60 | 320 | 97.00 | 100.00 | 3.00 | 0.51 | 3.0m@ 0.51% TCu |
| KLUDD0020 | 8290154 | 784696 | 643 | 225.00 | -60 | 320 | 103.00 | 104.00 | 1.00 | 1.65 | 1m@ 1.65% TCu |
| KLUDD0020 | 8290154 | 784696 | 643 | 225.00 | -60 | 320 | 165.00 | 166.00 | 1.00 | 0.39 | 1m@ 0.39% TCu |
| KLUDD0021 | 8290179 | 784660 | 636 | 201.00 | -60 | 320 | 68.00 | 75.00 | 7.00 | 0.77 | 7m@ 0.77% TCu |
| KLUDD0021 | 8290179 | 784660 | 636 | 201.00 | -60 | 320 | 143.00 | 145.00 | 2.00 | 0.82 | 2m @ 0.82% TCu |
Intercepts were calculated @ 0.30% Cu minimum cut off downhole width.
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2.0 Chisawa Prospect
A total of 38 DD holes have been drilled at Chisawa across a 3 km mineralised zone, which generate a 100 m x 100 m grid when combined with existing RC drilling. The aim of this infill drilling program is to advance the resource classification to an Indicated Category.
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FIGURE 4: MAP SHOWING DRILLED HOLES AT CHISAWA
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Results received are from 9 DD holes drilling along sections 10400E, 10600E, 10800E, 11000E and 11200E, with significant intersections tabulated below.
All holes intersected the same lithological units starting in amphibolites or amphibole-biotite schist through foliated quartz-biotite schist and terminating in sheared garnet-biotite-chlorite schist with disseminated chalcopyrite mineralisation.
TABLE 2: CHISAWA PROSPECT – DD DRILLING ASSAY RESULTS
| Hole_ID | Northing | Easting | RL | EOH Depth | **Inclination ** | Azimuth | mFrom | mTo | mWidth | Cu% | Intercept |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHSDD0006 | 8287846 | 787711 | 697 | 152.00 | -50 | 43.00 | 104.00 | 114.00 | 10.00 | 0.77 | 10m@ 0.77%TCu |
| CHSDD0006 | 8287846 | 787711 | 697 | 152.00 | -50 | 43.00 | 131.00 | 142.00 | 11.00 | 1.25 | 11m@ 1.25%TCu |
| CHSDD0007 | 8287562 | 787755 | 690 | 250.97 | -50 | 42.50 | 194.00 | 199.00 | 5.00 | 1.10 | 5m@ 1.10%TCu |
| CHSDD0008 | 8287768 | 787665 | 706 | 192.90 | -50 | 42.50 | 153.17 | 155.00 | 1.83 | 0.64 | 1.83m@ 0.64%TCu |
| CHSDD0008 | 8287768 | 787665 | 706 | 192.90 | -50 | 42.50 | 159.00 | 184.00 | 25.00 | 1.27 | 25m@ 1.27%TCu |
| CHSDD0009 | 8287442 | 787919 | 697 | 250.20 | -50 | 40.00 | 68.00 | 70.00 | 2.00 | 0.56 | 2m@ 0.56%TCu |
| CHSDD0009 | 8287442 | 787919 | 697 | 250.20 | -50 | 40.00 | 128.00 | 131.00 | 3.00 | 0.45 | 3m@ 0.45%TCu |
| CHSDD0009 | 8287442 | 787919 | 697 | 250.20 | -50 | 40.00 | 134.00 | 135.00 | 1.00 | 1.09 | 1m@ 1.09%TCu |
| CHSDD0009 | 8287442 | 787919 | 697 | 250.20 | -50 | 40.00 | 206.00 | 209.00 | 3.00 | 1.03 | 3m@ 1.03%TCu |
| CHSDD0010 | 8287655 | 787812 | 689 | 200.74 | -50 | 42.50 | 57.00 | 58.00 | 1.00 | 0.35 | 1m@ 0.35%TCu |
| CHSDD0010 | 8287655 | 787812 | 689 | 200.74 | -50 | 42.50 | 60.00 | 62.00 | 2.00 | 0.49 | 2m@ 0.49%TCu |
| CHSDD0010 | 8287655 | 787812 | 689 | 200.74 | -50 | 42.50 | 141.00 | 143.00 | 2.00 | 0.60 | 2m@ 0.60%TCu |
| CHSDD0012 | 8287761 | 788031 | 682 | 150.34 | -50 | 42.50 | 81.00 | 85.00 | 4.00 | 1.22 | 4m@ 1.22%TCu |
| CHSDD0013 | 8287420 | 788155 | 675 | 200.73 | -50 | 42.50 | 40.00 | 50.00 | 10.00 | 0.77 | 10m@ 0.77%TCu |
| CHSDD0013 | 8287420 | 788155 | 675 | 200.73 | -50 | 42.50 | 135.00 | 138.00 | 3.00 | 1.49 | 3m@ 1.49%TCu |
| CHSDD0014 | 8287491 | 788207 | 677 | 150.00 | -50 | 42.50 | 87.00 | 92.00 | 5.00 | 1.58 | 5m@ 1.58%TCu |
| CHSDD0014 | 8287491 | 788207 | 677 | 150.00 | -50 | 42.50 | 133.00 | 134.00 | 1.00 | 0.38 | 1m@ 0.38%TCu |
| CHSDD0015 | 8287292 | 788312 | 685 | 200.90 | -50 | 45.00 | 48.00 | 50.00 | 2.00 | 0.49 | 2m@ 0.49%TCu |
| CHSDD0015 | 8287292 | 788312 | 685 | 200.90 | -50 | 45.00 | 162.00 | 163.00 | 1.00 | 0.98 | 1m @ 0.98%TCu |
Note:
Intercepts were calculated @ 0.30% Cu minimum cut off downhole width.
Project Background
The Kangaluwi, Chisawa and Kalulu prospects are three of several high quality prospects within the 100% owned Kangaluwi Copper Project. The Project is covered by a 250 km[2] Mining Licence, 180 km east of Lusaka, Zambia.
Current Mineral Resource estimates for the Project stands at 23.4 Mt grading 0.85% Cu for approximately 200kt contained copper from the Kangaluwi and Chisawa prospects. Additional resource is anticipated from the Kalulu prospect.
The current drilling program of ± 27,000m will establish a new Mineral Resource estimate for copper and gold as a base for the Bankable Feasibility Study.
Numerous geophysical targets in the Project area are yet to be evaluated and only one quarter of the 28 km strike length has been drill tested todate.
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Competent Persons Statement
The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Ms Chiedza Nematadzira BSc Hon Geology and Borniface Nquni, MAIG, of Caracle Creek Consulting Zambia who are both Competent Persons as defined by the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2004 Edition) and who consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.
The information in this announcement that relates to Exploration Results is based on information compiled by Geoffrey Booth, Consulting Geologist. Geoffrey Booth is employed as a consultant for Zambezi Resources and is also a Fellow of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Geoffrey Booth consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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Zambezi Resources Limited Frank Vanspeybroeck CEO