Kalumines' Lupoto Copper Project - Drilling Update



    TORONTO, Oct. 9 /CNW/ - TEAL Exploration & Mining Incorporated (TSX-"TL")
(JSE-"TEL") ("TEAL") has announced further high-grade exploration drilling
intersections at the Lupoto Copper Project, which forms part of TEAL's
60%-owned Kalumines Copper-Cobalt Project ("Kalumines") in the Democratic
Republic of the Congo ("DRC").
    Phases 1 and 2 of the drilling program have been completed: these phases
confirmed and verified the historical mineral resource estimate for the Lupoto
Copper Project; while a further phase 3 drill program, aimed at increasing the
resource, has started. TEAL's existing mining licence for Kalumines is located
25km north-west of Lubumbashi and covers a surface area of 77km(2). The
licence hosts four near surface exposures of copper mineralization, namely:
Lupoto, Kasonta, Niamumenda (all within a few kilometres from each other) and
Karavia. Kalumines is a 60:40 joint venture with La Générale des Carrières et
des Mines ("Gécamines").
    Historical mineral resources were previously reported for the four known
copper prospects at Kalumines. The Inferred Mineral Resource estimates are
shown below:

    
    TABLE 1: INFERRED MINERAL RE

SOURCE (HISTORICAL) Lupoto 6.70 mt @ 3.13 % T Cu Kasonta 1.50 mt @ 5.18 % T Cu Karavia 0.50 mt @ 3.92 % T Cu Niamumenda 0.04 mt @ 5.38 % T Cu This historical estimate is pre-dating National Instrument 43-101. The source of these estimates is Gécamines and the original classification was made based on a classification scheme internal to Gécamines. TEAL has independently analyzed the results of the previous exploration, but the historical results should not be relied upon. TEAL believes these historical results provide an indication of the potential of the properties and are relevant to ongoing exploration and subsequent resource calculations. Phase 1 verification drilling program The aim of the phase 1 drilling program was to verify the previously drilled resource, defined by Gécamines, on the Lupoto prospect. Twelve twin boreholes were drilled and further drilling comprised closer spaced boreholes at 50 metre intervals between the previously drilled boreholes. The phase 1 drilling program also included verification boreholes in the area defined for rapid-entry open-pit mining. A total of 2,485 metres were drilled, comprising 22 reverse circulation holes and 10 diamond drill holes. Geological logging and sampling of the borehole core and chip samples were completed and analytical results are in the process of being received. The Kalumines prospect area occurs within a wide kite-shaped anticline zone cored by Roches Argilo-Talcqueuse ("RAT") and containing numerous rafts of Mine Series rocks, comprising more than 26km of strike. TEAL's exploration program has also identified further exposures of copper mineralization, of which the occurrence at Bumen, not more than about 1,000 metres east of Lupoto, is encouraging. Further exploration work on the property, comprising geological mapping and geochemical sampling, is in progress. The Lupoto Copper Project has been drilled in the past by Union Miniere du Haut Katanga ("UMHK") and Gécamines. A total of 73 diamond drill holes totaling over 9,100 metres were drilled between 1923 and 1967, while some additional drilling occurred until 1977. Most of the drilling, where drill fences were completed at 100 metre intervals, was focused on the southern portion of the project where the surface mineralization was best developed. The high grade Karavia prospect was mined on a small-scale, between 1959 and 1963, by UMHK. Phase 2 - Infill drilling program between lines N000 and N700 The objective of the phase 2 drilling program was to decrease the drill spacing to 50 metre line intervals to outline the resource more accurately, which will ultimately assist in defining the resource in the southern portion of the Lupoto Copper Project. A total of 4,906 metres were drilled, comprising 46 boreholes, 28 reverse circulation holes and 18 diamond drill holes. The drill program has been completed and analytical results are being received. Initial results of this completed drilling program, with a comparison of the results of previously drilled boreholes are shown in Table 2, which refers to the schematic sections for the central limb at the Lupoto Copper Project. A good comparison between the previously drilled borehole intersections and the TEAL drilled boreholes is evident. Phase 3 - Expansion drilling program between line N700 and N1250 The aim of the phase 3 expansion drilling program is to expand the Lupoto resource to the north on both limbs, to define possible copper mineralization on the eastern raft, and to define the hinge zone to the south of line N000. An initial 5,000 metres of drilling is underway, of which 2,000 metres has been drilled to date, comprising 16 reverse circulation drill holes. The reverse circulation chips are presently being logged and samples are being prepared for submission to the independent laboratory. Initial results from the borehole intersections are shown in Table 3. TABLE 2: SELECTED DRILL RESULTS OF THE LUPOTO EAST LIMB ------------------------------------------------------------------------- Section Borehole No. Depth from (m) Drill width (m) Cu (%) Co (%) ------------------------------------------------------------------------- N000 LPOD 001 6.6 2.7 11.2 0.11 ------------------------------------------------------------------------- LPOD 001 23 13 6.4 0.11 ------------------------------------------------------------------------- N000 LPO 152(*) 49.5 12.8 1.21 0.14 ------------------------------------------------------------------------- N000 LPO 153(*) 39.2 10.6 2.09 0.01 ------------------------------------------------------------------------- N000 LPO 134(*) 11.2 24.6 2.83 0.21 ------------------------------------------------------------------------- ------------------------------------------------------------------------- N450 LPDR 028 66 16 3.33 0.01 ------------------------------------------------------------------------- N450 LPRD 029 21 16 3.31 0.01 ------------------------------------------------------------------------- LPRD 029 46 31 2.88 0.01 ------------------------------------------------------------------------- ------------------------------------------------------------------------- N500 LPO 123(*) 78.7 22.6 5.12 0.22 ------------------------------------------------------------------------- LPO 123(*) 104.4 11.8 8.86 0.25 ------------------------------------------------------------------------- LPO 123(*) 131.8 22.5 1.71 0.25 ------------------------------------------------------------------------- N500 LPO 106(*) 65.6 54.4 4.97 0.24 ------------------------------------------------------------------------- N500 LPO 140(*) 27.9 29.7 6.39 0.33 ------------------------------------------------------------------------- N500 LPO 141(*) 1.7 30.8 5.29 0.19 ------------------------------------------------------------------------- ------------------------------------------------------------------------- N550 LPOR 005 65 25 5.6 0.01 ------------------------------------------------------------------------- N550 LPOR 003 4 5 1.66 0.01 ------------------------------------------------------------------------- N550 LPOR 001 30 49 6.76 0.01 ------------------------------------------------------------------------- ------------------------------------------------------------------------- N600 LPO 139(*) 74.1 53.1 4.68 0.31 ------------------------------------------------------------------------- N600 LPO 103b(*) 48 23.4 4.29 0.24 ------------------------------------------------------------------------- LPO 103b(*) 74.4 50.6 3.46 0.24 ------------------------------------------------------------------------- N600 LPO 116(*) 26.8 15.1 1.51 0.12 ------------------------------------------------------------------------- LPO 116(*) 45.1 20.7 5.79 0.12 ------------------------------------------------------------------------- LPO 116(*) 71.3 18 6.52 0.2 ------------------------------------------------------------------------- LPO 116(*) 91.5 17.6 1.05 0.2 ------------------------------------------------------------------------- N600 LPO 104(*) 22.7 36.5 7.18 0.21 ------------------------------------------------------------------------- N600 LPO 109(*) 29.6 2.6 2.2 0.13 ------------------------------------------------------------------------- LPO 109(*) 34.7 7.9 6.13 0.13 ------------------------------------------------------------------------- ------------------------------------------------------------------------- N650 LPRD 034 140 26 5.17 0.01 ------------------------------------------------------------------------- N650 LPRD 004 100 40 7.08 0.01 ------------------------------------------------------------------------- N650 LPRD 035 34 21 3.9 0.01 ------------------------------------------------------------------------- ------------------------------------------------------------------------- (*) UMHK/Gécamines boreholes drilled previously (historical results) Cobalt at 0.01% is below detection As the information is not yet available, TEAL will report "true widths" of intersections when the 43-101 compliant resource is completed TABLE 3: DRILL THICKNESS OF COPPER MINERALIZATION Borehole No. Drill thickness LPR 038 38m LPR 039 30m LPR 040 15m and 18m LPR 041 41m and 15m LPO 150(*) 13.5 m @ 1.83% T Cu, 0.36% T Co LPO 151(*) 23.8 m @ 6.80% T Cu, 0.13% T Co (*) Previously drilled boreholes and analytical results Geological modeling and resource estimation TEAL has appointed an independent consultant to conduct the database verification, geological modeling, ore body modeling and resource estimation work. A geological model has been created and the ore body has already been modeled for the Lupoto Copper Project between grid lines N000 to N700. Resource estimation work has also commenced. Mining and processing An initial phase of open-pit mining at the Lupoto Copper Project has started and is currently ramping up to a proposed full production rate of 110,000 m(3) per month. Good progress has been made on the new operation, which is a credit to all TEAL stakeholders, including the authorities in the DRC, local suppliers as well as all contractors and employees. The copper ore concentrate is currently produced through manual hand sorting and a mechanized screening plant is being installed, which will enhance the efficiencies of sorting the lumpy copper ore and increase production. The copper ore concentrate is being toll processed at furnaces in Lubumbashi until TEAL's electric arc furnace is commissioned, which is expected later this month. The furnace has the capacity to produce approximately 5,000 tonnes per year of 'black copper' ingots grading up to 95% copper. A full feasibility study on a larger open pit mining operation at Lupoto, together with a dedicated processing facility, is in progress and is scheduled for completion after the verification and in-fill resource drilling, as well as the metallurgical test-work, have been concluded. These recent analytical results are certified by ALS Chemex Laboratory in Johannesburg, South Africa an internationally accredited facility. TEAL uses standard procedures for the drill sampling, including the appropriate use of Certified Reference Materials, field duplicates and blank samples. Mr. Claus Schlegel, Pr.Nat.Sci (No. 400149/90), the Company's Vice President: Exploration and Business Development and a 43-101 "qualified person" as defined by the Canadian National Instrument 43-101, has reviewed the technical material contained herein. 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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