- DRILLING PROGRAM COMPLETED
- SIGNIFICANT HIGH-GRADE INTERSECTIONS
SOURCE CALCULATION UNDERWAY
- MASSIVE COPPER SULPHIDES INTERSECTED BELOW COPPER OXIDES
TORONTO, Jan. 29 /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 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 north-west
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 current focus is the Lupoto Copper Project, which has been drilled
in the past by Union Miniere du Haut Katanga 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, with drill fences completed at 100 metre intervals, was focused on
the southern portion of the U-shaped Mine Series outcrop where the oxide
copper surface mineralization is best developed.
All three phases of TEAL's drilling campaign, which started in March
2007, have now been completed. The first two drilling phases were undertaken
to confirm and verify the historical mineral resource estimate for the Lupoto
Copper Project and to undertake infill drilling to upgrade the mineral
resource confidence level. The third phase of drilling was aimed at increasing
the resource along strike in areas previously not drilled. The Lupoto Copper
Project resource is now being reviewed by SRK Consulting (South Africa) (Pty)
Limited to produce an Independent Competent Persons report compliant with the
National Instrument 43-101 ("NI 43-101").
The drilling results can be viewed in detail by accessing:
Highlights from the drilling results are LPO151 on line 1000N grading
6.80% copper over 23.8 metres, including 0.20% cobalt over 12.8 metres;
LPO147 on line 700N grading 4.31% copper over 15.6 metres; LPR007 on line 600N
grading 7.12% copper over 34 metres; LPRR011 on line 350N grading 5.12% copper
over 24 metres and 0.96% cobalt over 8 metres; LPDR023 on line 250N grading
9.87% copper over 8 metres; and LPR020B on line 50N grading 5.24% copper over
43 metres including 0.15% cobalt over 13 metres.
The Lupoto Copper Project geological structure occurs over a distance of
approximately 3,698 metres.
In borehole LPR/D 0410, collared at some distance to the east on line
700N to intersect the target geology at depth, massive sulphide copper
mineralization, mainly chalcopyrite, between vertical depth 190.5 metres to
223 metres was intersected. This borehole indicates that the copper
mineralization is well developed at depth in this area, but changes in nature
from predominantly oxide copper to massive sulphide copper. Assays are being
awaited from this intersection, and additional drilling will be undertaken to
further evaluate the potential of sulphide copper mineralization.
TEAL has appointed Sphynx Consulting as 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
mineralized area has already been modeled for the Lupoto Copper Project
between grid lines 800N on the western limb to 800N on the eastern limb.
Geological modelling to the 1350N line on the eastern limb is in progress.
Resource estimation work has also commenced. TEAL has appointed SRK Consulting
(South Africa) (Pty) Limited as the Qualified Person to complete the
Independent Qualified Persons Report on the Lupoto Copper Project.
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 NI 43-101 "qualified person" as
defined by NI 43-101, has reviewed the technical material contained herein.
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.
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
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), firstname.lastname@example.org, or Rick
Menell (President and CEO) on +27 82 450 2301, email@example.com