Extension and definition of high grade gold zone at TEAL'S Otjikoto gold project



    
    -   Further high grade zones defined at Otjikoto
    -   A high grade zone identified in shallow area of deposit
    -   Drilling is underway to convert portions of high grade zones from an
        inferred to indicated category
    -   Further resource estimation and pre-feasibility work advanced
    

    TORONTO, Feb. 4 /CNW/ - TEAL Exploration & Mining Incorporated (TSX-"TL")
(JSE-"TEL") ("TEAL") has announced further high grade drilling results from
its Otjikoto Gold Project in Namibia.
    The results include: OTR196 from 38 metres to 57 metres grading 3.33g/t
gold over a true thickness of 17.1 metres; and TC40 from 68 metres to 86
metres grading 9.53g/t gold over a true thickness of 16.2 metres (refer to
Table 1).
    This 'western high grade zone' has now been shown to extend some 700
metres 'up plunge' and along strike from its initial intersection in borehole
OT88. The zone is also known to continue down plunge from OT88, to the
southwest, for a further 250 metres strike extension.
    The existing, compliant (National Instrument 43-101), Otjikoto resource
comprises 460,000 ounces of gold in the indicated category or 11.8 million
tonnes grading 1.21g/t and an additional 1.32 million ounces of gold in the
inferred category, or 32.1 million tonnes grading 1.28g/t. The total contained
gold estimate, as of the September 11, 2007 independent Technical Report
compiled by SRK Consulting (South Africa) (Pty) Limited, is 1.78 million
ounces of gold. TEAL anticipates completing updated resource estimations by
mid-2008.
    The Otjikoto Gold Project is situated within TEAL's Otavi Exploration
Area, which totals some 3,800km(2) in northern-central Namibia, where TEAL
discovered the vein-hosted, 'free' and often coarse particulate gold
mineralization. The deposit is located close to well developed infrastructure.
    Recent results, specifically boreholes OT180, TC43, TC40 and OTR196,
indicate the continuation of this zone of mineralization into the shallow
oxide area of the deposit.

    Table 1: Borehole intersections with true widths and grades for the
    'Western High Grade Zone'

    
    -------------------------------------------------------------------------
                                   TABLE 1
    -------------------------------------------------------------------------
    LOCATION       BOREHOLE    Depth from    Depth to    Corrected      Gold
                                      (m)         (m)    width (m)     (g/t)
    -------------------------------------------------------------------------
    7100N/4675E       OTR15            14          30        14.40      1.78
    -------------------------------------------------------------------------
                      OTR15            60          77        15.30      1.12
    -------------------------------------------------------------------------
    7000N/4700E      OTR196            38          57        17.10      3.33
    -------------------------------------------------------------------------
                     OTR196            63          70         6.30      1.08
    -------------------------------------------------------------------------
                     OTR196            99         103         3.60      1.12
    -------------------------------------------------------------------------
    6850N/4750E        TC40            68          86        16.20      9.53
    -------------------------------------------------------------------------
                  Including            75          81         5.40     25.01
    -------------------------------------------------------------------------
                       TC40           109         121        10.80      2.66
    -------------------------------------------------------------------------
    6750N/4800E        TC43            95         103         7.20      4.60
    -------------------------------------------------------------------------
                  Including            98         101         2.70      9.57
    -------------------------------------------------------------------------
                       TC43           135         147        10.80      1.49
    -------------------------------------------------------------------------
    6650N/4850E       OT180           123         130         6.30      9.97
    -------------------------------------------------------------------------
                  Including           125         127         1.80     31.10
    -------------------------------------------------------------------------
                      OT180           170         175         4.50      1.45
    -------------------------------------------------------------------------
    6500N/4900E     OT88(*)           149         166        15.30      9.55
    -------------------------------------------------------------------------
                    OT88(*)           209         212         2.70      2.05
    -------------------------------------------------------------------------
    (*) Previously reported
    -------------------------------------------------------------------------
    

    The improved tenor of the gold mineralization associated with this
western zone is thought to be associated with the development of shallow
plunging structures within the West to East dipping (20-25 deg) sheeted vein
system.
    The current phase of exploration and infill drilling comprises some
16,000 metres of reverse circulation ("RC") drilling and 9,500 metres of
diamond core drilling. In total, 201 RC boreholes and 65 core boreholes have
been completed in the infill drilling area. This drilling is designed to
increase the indicated resources and to provide an area where mine planning
and scheduling can be undertaken. It is anticipated that the infill drilling
campaign will be completed shortly.
    Additional drilling is ongoing to delineate the higher grade zones
previously intersected within the south-western area of the Otjikoto area. A
number of boreholes are also targeting the expansion of the existing resource
base of the deposit.
    Claus Schlegel, Pr. Sci. Nat., TEAL's Vice President: Exploration and
Business Development, is the "qualified person" for the content of this press
release in terms of National Instrument 43-101.

    NOTES:

    TEAL is incorporated under the laws of the Yukon, Canada and its common
shares are listed on the Toronto Stock Exchange ("TSX") and the JSE Limited
("JSE"). The common shares of the Company trade under the symbol "TL" on the
TSX and "TEL" on the JSE.
    TEAL is a mineral development and exploration company with development
projects and exploration areas in Namibia, Zambia and the DRC. TEAL has a
portfolio of base and precious metal development projects and complementary
exploration areas, and the Company continues to seek other opportunities,
mainly in southern and central Africa
    TEAL has targeted specific core projects: the Konkola North Copper
Project in Zambia; the Otjikoto Gold Project in Namibia; and the Kalumines
Copper-Cobalt Project in the DRC. TEAL also has interests in various other
mineral licence areas in Zambia and in Namibia on which the Company continues
drilling and other exploration activities.
    ADDITIONAL TEAL INFORMATION CAN BE FOUND AT: www.tealmining.com





For further information:

For further information: Julian Gwillim, (VP: Investor Relations and
Corporate Development) on +27 82 4524 389 (SA); or julian@tealmining.com, or
Rick Menell (President and CEO) on +27 82 450 2301; or rick@tealmining.com

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