- First phase copper resource upgraded from (historical) inferred to
indicated category at the Lupoto Copper Project;
- First phase copper resource increases by 125%;
- Additional drilling aimed at a grade and tonnage increase is underway
TORONTO, July 3 /CNW/ - TEAL Exploration & Mining Incorporated (TSX-"TL")
(JSE-"TEL") ("TEAL") has announced a first phase resource estimation for the
Lupoto Copper Project, which forms part of TEAL's 60%-owned Kasonta-Lupoto
Mines sprl ("Kalumines") mining licence area, situated close to Lubumbashi in
the Democratic Republic of the Congo ("DRC").
TEAL's existing mining licence for Kalumines is located 25km northwest of
Lubumbashi and covers a surface area of 77km(2). The licence hosts various
near surface exposures of rich oxide copper mineralization all within a few
kilometres from each other. Kalumines is a 60:40 joint venture with La
Générale des Carrières et des Mines ("Gécamines").
TEAL's initial drilling programme commenced in March 2007 and to date
TEAL has drilled a total of 166 boreholes for 15,589 metres in addition to the
73 boreholes for 5,631 metres drilled by Union Miniere du haut Katanga
("UMHK") and Gécamines to define the copper oxide mineralization at its Lupoto
Copper Project. The UMHK and Gécamines drilling resulted in a historical
inferred resource, in terms of National Instrument 43-101, of 6.7 million
tonnes at a grade of 3.13% copper.
The first phase resource estimation for the Lupoto Copper Project,
excluding the material mined by the phase 1 mining operation, at a 0.5% copper
cut-off and only to an average of 80 metres of vertical depth, is now as
- Indicated Resources: 15.09 mt @ 2.32% TCu, 1.83% ASCu, 0.15% Co;
- Inferred Resources: 9.13 mt @ 2.09% TCu, 1.73% ASCu.
The Kalumines licence area covers a large portion of an approximately 9km
wide kite-shaped anticline containing numerous large rafts of the,
prospective, Mine Series stratigraphy.
TEAL has appointed Sphynx Consulting as an independent consultant to
conduct the database verification, geological modelling, resource modelling
and estimation work. A geological model has been created and the mineralized
area has already been modelled for the Lupoto Copper Project. TEAL has
appointed SRK Consulting as the Qualified Person to complete the Independent
Qualified Persons Report on the Lupoto Copper Project, in terms of National
The UMHK/Gécamines boreholes were drilled on 100 metre spaced grid lines
and TEAL has undertaken twin drilling, as well as further drilling also on
100m grid lines spaced between the UMHK/Gécamines grid lines. A total of 50
UMHK/Gécamines boreholes with assay values are presently in the geological
model. TEAL has undertaken statistical null-hypothesis statistics to determine
if the means and variances between the TEAL and UMHK/Gécamines data sets are
similar. The statistical results indicate that the means and variance are from
a similar distribution with a greater than 80% confidence limit indicating
that the two data sets can be integrated.
The total strike length of the Lupoto structure is 3,698 metres. A total
of 7,754 samples have been submitted to ALS Chemex, an internationally
accredited laboratory, for assays of which a total of 5,594 assays have been
received, which were incorporated in the grade model. A total of 2,160 assays
or 28% are still outstanding. In addition, a strike length of about 1,350
metres remains open ended, with only selective drill holes having been
The copper orebody at Lupoto is about 25 meters thick and the dip varies
from 90 degrees to 65 degrees. The first phase drilling only defined the
copper orebody to an average vertical depth of 80 metres.
Phase two drilling at the Lupoto Copper Project is now in progress and
three drill machines have been mobilized. The aim of this drilling program is
- Extension drilling to define the copper mineralization of the Lupoto
structure in its totality;
- Infill drilling to further and better define the resource to a
vertical depth of 150 metres; and
- Deeper drilling to define the sulphide copper previously intersected
(the first results of two deeper boreholes that intersected copper
sulphides were released by TEAL on May 30, 2008, and the press release
can be found at www.tealmining.com).
Mr. Claus Schlegel, Pr. Sci. Nat. (No. 400149/90), 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.
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 firstname.lastname@example.org