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From: Nigel
ArtDate: 1st November 2006
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 87.74.94.128
Date: 21/11/06
Time: 00:06
1st November 2006
Zambezi Resources (ZRL) - Drill results from Cheowa
News Item - Conduit PR
Drill Results from Cheowa confirm Significant Copper Mineralisation with Substantial Coincident Gold Results
Three further diamond drill holes at the Cheowa project return significant copper mineralisation in excess of 1% with substantial coincident gold results Intersection highlights include 4m at 3.18% copper and 2.46 g/t gold, and 4.5m at 2.72% copper and 4.89 g/t gold Mineralisation in excess of 1% copper now identified over strike length of 500m Drilling to continue on Conductor CC02 until December, followed by resource estimation Geophysical modelling highlights excellent VTEM conductors with anomalous copper-gold in soils approximately 7.5 km east of Conductor CC02 Zambezi Resources Limited ("Zambezi" or the "Company"), the Zambian focused exploration company, today announces assay data for further diamond drill holes at Cheowa, which contain encouraging grades of copper with associated gold (see Table 1). These results are considered highly significant as they extend the copper-gold mineralisation intersected in the first two diamond holes, and importantly, confirm for the first time the presence of significant gold grades at the project.
To date, nineteen diamond drillholes have been completed at Cheowa for a total of 3,744 metres, with fifteen of these holes completed on Conductor CC02. Assay results have been received for priority intervals for seven holes from Conductor CC02, and two holes from Conductor CC01. Mineralisation at CC02 has been identified in two parallel zones dipping at 50-55o to the north. Further assay results are expected in early December. Following the conclusion of the drilling campaign in December, a resource estimation exercise will be carried out for Conductor CC02.
Geophysical modelling has now been completed for the additional 20 electromagnetic conductors recently defined over an additional 5,800 cumulative strike metres at Cheowa. Excellent VTEM conductors with coincident anomalous copper-gold in soils have been identified approximately 7.5 km east of Conductor CC02. The persistence of these conductors through to the late time channels of the VTEM system strongly suggests that these conductors are particularly robust. These conductors will be drilled as a priority during the 2007 field season.
Commenting today Julian Ford, Managing Director of Zambezi, said: "The latest batch of results from Cheowa confirms the presence of potentially economic grades of copper at Conductor CC02. We are particularly encouraged by the intersection for the first time of significant coincident gold grades, which have the potential to positively impact on the project economics. Diamond drilling will continue at Cheowa until the onset of the wet season in December, and resource estimation will commence early in the New Year".
A detailed version of this announcement, including plans and sections, is available from the Zambezi website at: www.zambeziresources.com
For more information contact:
Julian Ford, Managing Director Jeremy Wrathall, Non-Executive Director Zambezi Resources (Australia) Zambezi Resources (London) +61 (8) 9216 9000 / +61 (4) 1894 9580 Mob: +44 7712 776 100
Laurence Read / Leesa Peters Conduit PR +44 20 7429 6666 / +44 7979 955 923
Edward Portman Conduit PR Ltd 76 Cannon St London EC4N 6AE Office: +44 (0) 20 7429 6666 Direct: +44 (0) 20 7429 6607 Fax: +44 (0) 20 7429 6699 Mob: +44 (0) 773 3363 501
www.conduitpr.com
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