Sub-Sahara Resources NL
Sub-Sahara Resources NL english
Sub-Sahara Resources NL
Corporate-news announcement processed and sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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Tuesday, 15 October 2003
ASX Companies Announcements
Release via ASX Online
Sub-Sahara to spend USD 1.3 million on exploration at the Asmara Project in
Eritrea
Sub-Sahara, as manager of the Asmara Joint Venture in Eritrea, have been
requested by recently signed venture partner Sunridge Gold Corp., to fast track
exploration expenditure on the Asmara project that hosts the very exciting
Debarwa copper/gold deposit (Debarwa Main) and the Adi Nefas Doop gold deposit.
Budgeted expenditure of USD l.3 million by the end of 2003 is expected to
consist of a blend of resource drilling, resource expansion drilling, target
development and target generation activities. Preliminary work including
mapping, trenching and rock chip sampling is already underway, with drilling and
airborne geophysics activities expect to commence during November.
At Debarwa Main, Reverse Circulation (RC) drilling is expected to upgrade the
resource status of the high grade “supergene” zone where recent drilling
returned spectacular copper (+13%) results and further drilling (RC with diamond
tails) will target the “primary” zone where drilling to date only extends to 200
metres below the surface.
The venture also expects to further drill test the near surface gold potential
of Debarwa Main as well as the outcropping (+1km) southern strike extension of
the deposit in order to expand the overall resource.
An extensive Airborne EM survey is currently being negotiated, and once
processed, the partners are confident that this survey will not only give the
project a quantum leap in geological understanding, but has potential to
identify additional significant VMS (poly-metallic) targets similar to the known
Debarwa (copper/gold) and Adi Nefas (zinc/gold) deposits.
Sub-Sahara expects to generate a substantial amount of new data over the coming
months, and the venturers are confident that this work will significantly
advance the project.
For and on behalf of
Sub-Sahara Resources NL
M.R. Griffiths
CEO – Director
For further information please e-mail Michael Griffiths ( mrg@subsahara.com.au )
or Colin Crabb ( ccrabb@multiline.com.au ), or contact by phone on
61-8-9228 1266 or visit our website: http://www.subsahara.com.au
end of message, (c)DGAP 15.10.2003
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WKN: 895112; ISIN: AU000000SBS5; Index:
Listed: Freiverkehr in Berlin und Frankfurt
151654 Okt 03
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