PAYSON, AZ, Jan. 30 /CNW/ - Kansai Mining Corporation (TSX Venture
Exchange: KAN) is pleased to alert shareholders to the Company's situation
with regard to its Migori Gold Project in Kenya.
As a result of the situation in Kenya which has seen serious incidents
since the presidential and parliamentary elections held on December 30th, 2007
it is appropriate and necessary to comment on the Company's present status.
The Company's major operations base at Mikei, some 25km west-south-west of
Migori Town has not attracted any incidents to date and currently all is quiet
in the Mikei area. Kansai's Kenyan staff took the precaution of increasing
security numbers at the beginning of the unsettled period and have seen fit in
view of the seemly behaviour to date to return to normal complements of Askari
In addition the Company has received the results from the early stages of
the drilling programme that was underway prior to the end of the year. It will
resume as soon as the situation is deemed calm by the contractor. Meanwhile
there is further sampling to be undertaken for delivery to Humac Laboratory in
Mwanza, Tanzania as soon as the border with Tanzania at Isebania,
approximately 35Km. south east of the Mikei base, is reopened.
However, the current unease has meant that Kansai's administrative staff
has experienced delays in responding to the Company's outside auditor's
requests for information, which has resulted in a filing delay of its annual
audit and related documents which were due on January 28th 2008. In
recognition of this situation, Management applied for and received a
management cease trade order under the regulatory orders ("CSA Notice 57-301")
which prohibits insiders from buying or selling the Company's securities until
the audited financial statements and related documents can be filed. The
initial Kenyan information requested by the outside auditors has been gathered
and has already left Kenya. As a consequence of the progress being made,
Management believes all the requisite statements and accompanying documents
will be filed by February 15th 2008. Kansai will also be filing on a bi-weekly
basis a default status report in accordance with the regulatory requirements.
A complete copy of the notice of default is filed on SEDAR.
The Company is pleased to announce some preliminary results from the
current Migori diamond drilling programme at Gori Maria and Macalder. 11
angled diamond drill holes, namely MD26-36 inclusive were completed by
mid-December 2007 when drilling was stopped for the Christmas-New Year break.
Metreage drilled to date is approximately 1700.
Partial assays have been received for holes MD26-30 as follows
MD26 Gori Maria Zone. Angle -55deg. Total depth 109.18m.
59-61m firstname.lastname@example.org/t Au
Further sampling is required in various sections of this borehole.
MD27 Gori Maria Zone Angle -60 deg. Total depth 151.38 Zone mineralised
from 77-151m but only partially sampled.
97-113m email@example.com/t Au
140-147m firstname.lastname@example.org/t Au
Further Au mineralisation below 147m bottoming in 2.83gm/t AU at 151m.
MD28 Gori Maria Zone Angle -60deg. Total depth 181.38m. Zone mineralised
from 80-154m though only partially assayed. Further sampling is required from
76-80m, 82-85, 87-95, 118-154m.
80-82m email@example.com/t Au
85-87 firstname.lastname@example.org/t Au
95-107m email@example.com/t Au
117-118m firstname.lastname@example.org/t Au
These Gori Maria holes demonstrate the nature of the long columns of
mineralisation that seemingly persist throughout the mineralised zone.
Complete sampling is likely to consolidate these columns and augment the
240,000 ounces of Indicated Resources independently reported to date.
MD29. Macalder Zone. Angle -65deg. Total depth 115.28m.
Macalder Gossan Zone.
47-48m email@example.com/t Au
52-54m firstname.lastname@example.org/t Au
82-84m email@example.com/t Au
85-88m. firstname.lastname@example.org/t Au
Further sampling required.
MD30 Macalder Zone Angle -65deg. Total 253.43m.
66-67m email@example.com/t Au
within 66-69.50m of firstname.lastname@example.org/t Au.
Values for gold in the 2 Macalder Gossan zone holes to date are
co-incidental with higher grade copper, zinc and silver values which await
MD31-32 were drilled at Macalder. MD33-36 inclusive were drilled at
Nyanza. These cores (except MD36) await dispatch to the assayers in Tanzania.
The Macalder holes, other than 2 earlier stratigraphic holes drilled in
2004 are the first systematic holes planned for the gossans. The result in
MD30 is particularly encouraging and the future drilling is keenly
All results will be reviewed as soon as all analytical results from all
eleven holes are received.
This release has been compiled by Mr. Bruce Walsham as CEO of Kansai who
is a qualified person in terms of National Instrument 43-101.
Kansai Mining Corporation is a mining and exploration company with
interests in Kenya and Venezuela trading on the TSX Venture Exchange under the
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release which has been prepared by
All statements, other than statements of historical fact, included
herein, including without limitation, statements regarding potential
mineralization and reserves, exploration results and future plans and
objectives of the Company are forward looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will
prove to be accurate, and accurate results and future events could differ
materially from those anticipated in such statements.
President and Chief Executive Officer
For further information:
For further information: 273 N. Coyote Way, P.O. Box 9, Payson, Arizona,
85547-0009, TEL. (928) 474-9151, FAX (928) 474-8354, Web Site:
www.kansaimining.com, E-MAIL: email@example.com; UK REPRESENTATIVE OFFICE,
Carrswood, Fortescue Road, Salcombe, Devon, TQS SAP, England, Tel 44 1548 843
844, Fax 44 1548 842 378, E Mail: firstname.lastname@example.org