TORONTO, Feb. 4 /CNW/ - TEAL Exploration & Mining Incorporated (TSX-"TL")
(JSE-"TEL") ("TEAL") has announced the discovery of copper and cobalt
mineralization in the Karu East block ("the Karu Prospect") some 5km SSE of
the Lupoto Copper Project.
Some of the drilling highlights include: 21 metres grading 2.57% copper;
and 39 metres grading 3.25% copper, including 15 metres at 0.46% cobalt; and
16 metres grading 0.33% cobalt.
TEAL's existing Kalumines mining licence is located 25km north-west of
Lubumbashi in the Democratic Republic of Congo ("DRC"), and covers a surface
area of 77km(2). Kalumines is a 60:40 joint venture with La Générale des
Carrières et des Mines ("Gécamines").
The licence hosts a number of other known surface exposures of
significant copper oxide mineralization; many in close proximity to the Lupoto
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's current focus is to deliver a compliant resource estimation of the
Lupoto Copper Project. TEAL's exploration program has also identified other
surface expressions of copper and cobalt mineralization. These exploration
targets are being prioritized to add the maximum value to TEAL's development
strategy for the Kalumines property. As part of this program, the Karu
Prospect was tested by initial exploration drilling and intersected
encouraging copper and cobalt mineralization.
Previous work by Union Miniére du Haut Katanga and Gécamines, mainly
geological pit mapping and sampling, partially outlined a raft of Mines Series
stratigraphy at the Karu Prospect. No mineralization was described. Subsequent
informal mining activities further exposed the Mines Series and limited
amounts of cobalt mineralization were mined. There are currently no informal
miners on the Kalumines licence area.
TEAL undertook an initial reconnaissance reverse circulation ("RC")
drilling program with boreholes spaced 50 metres apart on a single line to
assess the geological potential of Karu. The encouraging results from Karu
will be followed up with further exploration drilling planned to commence in
the near future.
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.
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 email@example.com; or
Rick Menell (President and CEO) on +27 82 450 2301, or firstname.lastname@example.org