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September 4, 2013

Bisha Mining Reports 75 m of 1.7% Copper and 3.0% Zinc at Hambok

 

Bisha Mining Share Company (BMSC) announces previously unreported assay results from drilling completed by the previous owner of the Mogoraib River exploration licence that includes the Hambok mineral deposit. 

HIGHLIGHTS

  • Drilling confirms continuity of the massive sulphide body;
  • Hambok mineral deposit still open to the south, north and at depth;
  • Further mineral resource definition drilling underway;
  • Updated Mineral Resource estimate anticipated in early 2014;
  • High potential exploration targets in immediate deposit area.

 

Select high grade results include:

  • HAM-10-062:  79.1 m @ 1.56% Cu, 2.02% Zn from 189.1 – 268.2 m in massive sulphide;
  • HAM-12-076:  47.9 m @ 1.48% Cu, 2.35% Zn from 213.8 – 261.7 m in massive sulphide;
  • HAM-12-078:  75.4 M @ 1.70% Cu, 2.95% Zn from 192.5 – 267.9 m in massive sulphide;
  • HAM-12-084:  47.0 m @ 1.50% Cu, 2.65% Zn from 141.6 – 188.5 m in massive sulphide.

Assay results are from the thickest and best developed part of the Hambok deposit.

 

BMSC reports that they have started their own resource definition drilling program at Hambok with expectation that the results will be included in a mineral resource estimate for Hambok that will be a part of an overall resource and reserve estimate in Q1 2014 for the Bisha area deposits, effective December 31, 2013. A total of 2,713 metres in 8 holes were completed prior to the onset of the summer rainy season that has temporarily halted work until September.  Assay results from these holes are pending. 

Hambok is a copper-zinc massive sulphide mineral deposit located 16 kilometers southwest of the Bisha Mine that represents potential additional feed for Bisha.  Hambok is on the 97.4 square kilometer Mogoraib River exploration license acquired in  October 2012. 

The deposit consists of a single massive sulphide lens that is steeply east dipping and lenticular in shape.  The massive sulphide lens extends for over 1,000 metres along strike and 350 metres on dip. The distribution of base metal values is regular within the sulphide body. The best grades generally occur 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.

In 2009, the previous owner of the Hambok property completed 52 historical diamond drill holes totaling 11,984 metres on the deposit.  Between 2010 and 2012 an additional 33 holes totaling 10,923 metres of in-fill diamond drilling and 42 holes totaling 2,675 metres of RC (reverse circulation) drilling targeting near surface gold potential was completed to further evaluate this mineral deposit.  Much of the drilling completed in 2012 had not been assayed prior to the purchase of the Mogoraib River exploration license.  BMSC has now finished this work and the results for all holes drilled between 2010 and 2012 are reported in this release.

BMSC believes that there is significant expansion potential at Hambok and in the immediate area.  Compilation of a historical ground EM, IP (induced polarization) and soil geochemical data has highlighted possible extensions to the mineral deposit along strike and to the immediate west of the mineral deposit.  In addition, encouraging mineralization (e.g. 29.0 metres (drilled length) grading 0.83 grams per tonne Au, 0.71% Cu, 3.36% Zn including 10 metres grading 1.23 grams per tonne Au, 1.10% Cu, 5.94% Zn in hole ANK-006) has been intersected in the Aderat area located approximately 5 kilometres along strike to the north of Hambok by the previous owner.  A program of trenching has been initiated at this target with follow-up drilling planned for later in 2013.

TABLE 1: Hambok Drill Hole Data from holes drilled by previous owner, 2010 to 2012 (1)

Hole ID

From (m)

To (m)

Cu (%)

Zn (%)

Au (g/t)

Ag (g/t)

Length (m)

HAM-10-062

189.1

268.2

1.56

2.02

0.2

13.6

79.1

HAM-10-063

185.2

263.1

1.05

1.93

0.2

11.4

78.0

HAM-10-064

188.3

260.0

0.78

1.88

0.2

8.5

71.7

HAM-11-066

138.9

177.3

0.64

1.24

0.2

6.1

38.4

HAM-11-067

232.2

285.4

0.85

1.30

0.1

6.3

53.2

HAM-11-068

145.3

174.4

0.67

1.73

0.1

4.1

29.2

HAM-11-069

227.1

298.1

0.56

0.92

0.2

4.4

71.0

HAM-11-071

245.7

327.1

0.97

1.50

0.2

4.4

81.4

HAM-12-072

260.2

301.9

1.12

1.94

0.1

4.9

41.7

HAM-12-074

242.5

341.9

0.65

0.59

0.2

4.3

99.4

HAM-12-076

213.8

261.7

1.48

2.35

0.2

10.5

47.9

HAM-12-077

205.7

244.2

0.73

1.17

0.2

5.9

38.5

HAM-12-078

192.5

267.9

1.70

2.95

0.3

16.9

75.4

HAM-12-079

191.5

257.0

0.72

2.43

0.1

10.3

65.5

HAM-12-080

203.3

268.3

0.70

2.19

0.2

8.4

65.0

HAM-12-081

188.7

220.0

0.59

1.33

0.1

6.7

31.3

HAM-12-082

197.4

236.8

0.55

1.40

0.2

4.6

39.4

HAM-12-083

214.4

258.9

0.75

1.75

0.2

5.3

44.6

HAM-12-084

141.6

188.5

1.50

2.65

0.3

11.5

47.0

HAM-12-085

118.2

157.7

0.69

1.76

0.2

5.9

39.5

HAM-12-086

140.8

189.3

0.67

0.61

0.3

5.3

48.5

HAM-12-087

205.3

239.7

0.87

2.61

0.2

9.8

34.4

HAM-12-088

291.2

331.6

0.56

1.49

0.3

5.9

40.4

HAM-12-089

305.8

356.7

0.56

1.37

0.2

5.8

50.9

HAM-12-090

293.3

361.8

0.57

1.75

0.2

8.8

68.5

HAM-12-091

281.5

370.3

0.56

1.57

0.2

9.1

88.8

HAM-12-092

296.0

385.6

0.49

0.97

0.2

5.1

89.6

HAM-12-094

286.3

378.1

0.53

0.56

0.2

4.0

91.8

HAM-12-095

289.0

379.6

0.46

0.64

0.1

4.2

90.6

HAM-12-096

293.9

371.6

0.55

0.79

0.2

4.0

77.7

(1) Drill holes without significant mineralization have been excluded from the above table (holes 65, 70, 73, 75, 93).

A renewal for the Mogoraib River exploration license is pending as of the date of this news release.

 

TABLE 2: Location of drill holes for which results are being reported

Hole ID

Easting (mUTM)

Northing (mUTM)

Elevation (mabmsl)

Hole Depth

Azimuth

Dip

HAM-10-062

329143.3

1705039.6

628.6

280

285

-50

HAM-10-063

329119.5

1704947.8

628.3

280

285

-50

HAM-10-064

329166.9

1705093.0

627.8

277

285

-50

HAM-10-065

328833.1

1704498.9

632.1

137

285

-50

HAM-11-066

329176.2

1705319.3

627.9

189

285

-50

HAM-11-067

329260.2

1705291.1

626.7

295

278.5

-50

HAM-11-068

329154.1

1705225.9

628.3

190

280

-50

HAM-11-069

329236.2

1705197.2

626.8

313

280

-50

HAM-11-070

329355.0

1704980.0

614.0

550

285

-60

HAM-11-071

329198.3

1704980.4

620.0

340

285

-50

HAM-12-072

329163.6

1704886.9

617.0

328

285

-50

HAM-12-073

329395.0

1704913.0

612.0

529

285

-60

HAM-12-074

329227.0

1705116.0

614.0

352

285

-50

HAM-12-075

329323.0

1704853.0

618.0

514

285

-60

HAM-12-076

329110.0

1704904.0

618.0

280

285

-50

HAM-12-077

329095.0

1704853.0

620.0

277

285

-50

HAM-12-078

329143.0

1704998.0

619.0

283

285

-50

HAM-12-079

329177.0

1705131.0

613.0

265

285

-50

HAM-12-080

329197.0

1705164.0

619.0

283

285

-50

HAM-12-081

329201.0

1705216.0

620.0

238

285

-50

HAM-12-082

329217.0

1705260.0

618.0

253

285

-50

HAM-12-083

329231.0

1705316.0

617.0

274

285

-50

HAM-12-084

329093.0

1705014.0

619.0

208

285

-50

HAM-12-085

329109.0

1705176.0

620.0

172

285

-50

HAM-12-086

329057.8

1704921.1

618.0

214

285

-50

HAM-12-087

329233.0

1705361.1

624.0

255

285

-50

HAM-12-088

329318.7

1705335.7

622.0

351

285

-50

HAM-12-089

329327.4

1705285.9

621.0

375

285

-50

HAM-12-090

329308.9

1705235.0

622.0

377

285

-50

HAM-12-091

329289.1

1705190.2

615.0

376

285

-50

HAM-12-092

329276.4

1705098.9

619.0

398

285

-55

HAM-12-093

328795.0

1705324.0

621.0

300

105

-50

HAM-12-094

329286.7

1705139.0

613.0

391

285

-50

HAM-12-095

329262.1

1705069.2

617.0

394

285

-55

HAM-12-096

329255.0

1705012.8

617.0

385

285

-55

 

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 above; 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 drill results and anticipated resource and reserve estimate.  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 MMine plan

Hambok Logitudinal view