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November 18, 2013

Bisha Mining Intersects 1.68% Cu and 2.61% Zn over 20.1 m at Hambok

  

Bisha Mining Share Company (BMSC) is pleased to announce diamond drill results from an eight hole 2,713 meter in-fill resource definition drilling program completed in 2013 at the Hambok poly-metallic massive sulphide deposit, located 16 kilometers southwest from the BMSC processing plant.

HIGHLIGHTS

  •          Drilling confirms continuity of massive sulphide at the northern and southern ends of the deposit
  •          Hole HAM-13-103 (20.1 m @ 1.68% Cu and 2.61% Zn from 225.9 m to 246.0 m) extends thicker massive sulphide mineralization a further 50 m to the north
  •          Holes at the southern end consistent with the previous interpretation of the massive sulphide
  •          Maiden mineral resource estimate in early 2014

 

Hambok is a copper-zinc massive sulphide deposit located on the 97.4 square kilometer Mogoraib River exploration license that was acquired by BMSC in October 2012.  Hambok represents potential additional feed for the Bisha mill.  The eight hole diamond drilling program was completed in July 2013.  A layout of the holes and a representative longitudinal section are included in the figures at the end of this release.

Results from the 2013 drill program are tabulated below and are consistent with the previous interpretation of Hambok.  Holes HAM-13-99 and HAM-13-100 are similar to three historical holes drilled approximately 50 m to the south (HAM-39, HAM-40 and HAM-56).  However, at the north end of the deposit, hole HAM-13-103 returned a significantly better grade and thickness relative to the historical holes drilled approximately 50 m to the north.   Hole HAM-13-103 returned 1.68% Cu, 2.61% Zn over 20.1 m (drill length) while the best hole on the adjacent section to the north was historical hole HAM-42 which returned 1.53% Cu, 2.09% Zn over 9.04 m.  This is a positive indication that a thicker zone within the deposit extends further north than anticipated.

A new mineral resource estimate for Hambok incorporating these results is in progress and will be included in an updated mineral reserve and resource statement for BMSC which will also include updated mineral reserves and resources for Bisha Main and Harena and a maiden mineral resource for the Northwest Zone.

Hambok consists of a single massive sulphide lens that is steeply east dipping and lenticular in shape.  The lens extends for over 1,000 meters along strike and at least 350 meters down dip.  Base metal values are generally higher nearer to surface along the top and outer edges in the central area of the body.  The massive sulphide lens is open to the north and south and there is limited drilling at depth.  The deposit is hosted by variably chloritized mafic volcanic rocks and is dominantly composed of massive pyrite with zones of finely banded chalcopyrite and sphalerite.  Intervals of near massive magnetite are often found associated with the massive sulphides.  As of yet, no footwall stringer zone or associated felsic volcanic rocks have been found associated with the deposit although highly altered felsic volcanics are associated with the Aderat occurrence four kilometers immediately along trend to the north.  Future work will focus on exploring this favourable trend to the immediate north and south of Hambok.

 

Quality Assurance

A Quality Assurance/Quality Control program was part of the sampling program on the Hambok deposit. This program includes chain of custody protocols as well as systematic use of standards, duplicates and blank samples into the flow of samples produced by the sampling. Results from work by the previous owner are acceptable.  Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia. 

Drilling intercepts lengths only are reported in the tables and text below. It is estimated that true width will be approximately 85% of the mineralized intersections reported.

Mr. Paul Gribble C.Eng., FIMMM, BMSC's Chief Resource Geologist has been overseeing the drilling and resource work at Hambok and is a Qualified Person as defined by NI 43-101. Mr. Gribble has reviewed the technical content of this press release and approved its dissemination.

 

Forward Looking Statements: The above contains statements regarding exploration work, future resource estimates and potential mining activity.  Forward-looking statements are frequently, but not always, identified by words such as “expects,” “anticipates,” “believes,” “intends,” “estimated,” “potential,” “possible” and similar expressions, or statements that events, conditions or results “will,” “may,” “could” or “should” occur or be achieved.  Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors.  The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future.

 

Bisha Mining Share Company

“Cliff T. Davis”

Cliff T. Davis
Chairman





Hambok 2013 Intersections

Hole ID

From (m)

To (m)

Length (m) (drilled)*

Cu (%)

Zn (%)

Au (g/t)

Ag (g/t)

HAM-13-97

NSV

 

 

 

 

 

 

HAM-13-98

NSV

 

 

 

 

 

 

HAM-13-99

286.0

288.1

2.1

0.81

2.19

0.13

5.00

HAM-13-100

371.0

373.8

2.8

1.93

0.09

0.13

0.25

HAM-13-101

NSV

 

 

 

 

 

 

HAM-13-102

116.8

122.0

5.2

1.45

2.94

0.22

6.78

and

127.0

131.6

4.6

0.85

1.95

0.18

5.49

HAM-13-103

225.9

246.0

20.1

1.68

2.61

0.23

3.73

HAM-13-104

NSV

 

 

 

 

 

 

NSV = No Significant Values

           

* True width is estimated to be 85% of drilled length

 

Hambok 2013 Collar Data

Hole ID

UTM East

UTM North

Elevation

Final Depth

Azimuth

Dip

HAM-13-97

328934.200

1704825.558

617.555

182

286

-51

HAM-13-98

329030.667

1704799.991

616.242

409.5

287

-51

HAM-13-99

329129.759

1704773.303

614.944

350

285

-50

HAM-13-100

329226.548

1704747.480

614.466

463.5

285

-49

HAM-13-101

329373.642

1705315.061

611.966

457.5

285

-55

HAM-13-102

329201.183

1705548.393

614.402

157.5

284

-50

HAM-13-103

329298.900

1705523.206

613.059

292

285

-50

HAM-13-104

329395.834

1705498.414

611.206

401

285

-50

 




Hambok Drill Holes Map

Hambok Drill hole