CALVF Cobalt $3,689,395,240.00 (billion) excl. Cu? -
one of the worlds largest Copper belt Cu property - you excl.
and still get $3.7 billions? -
well, Goldy is it real? - are you real? - don't kidding? -
what else is excluded? -
Caledonia Announces Additional Resource at Nama Cobalt Project in Zambia -
Caledonia Mining Corporation -
("Caledonia") (TSX: CAL)(OTCBB: CALVF)(AIM: CMCL) is pleased
to announce that an additional Indicated Resource has -
been identified at the Anomaly "C" area on -
the Nama Cobalt and Copper Project in Zambia.
Nama -
caledoniamining.com
Caledonia is the 100% owner of the Nama Project, which
covers a number of polymetallic oxide deposits
containing cobalt and copper, located on the
northwestern flank of the Zambia Copperbelt.
Resources
This new estimate which is in addition to the resource
reported in Caledonia's Press Release of March 19, 2007,
has identified a potentially economic resource of cobalt
with lesser quantities of copper and nickel in
the Anomaly "C" area.
The resource lies within four blocks within the target area
to a depth of 150 meters, the full depth extent of which
has not yet been determined.
The evaluation is based on 73 drill holes collared on
13 section lines.
The maximum hole spacing is 300 meters.
Indicated Resources at Anomaly "C"
---------------------------------------------------------
Resource blocks
in Anomaly C Tonnes % Co % Cu % Ni
---------------------------------------------------------
Block C3 41,637,000 0.0505 0.0173 0.0195
---------------------------------------------------------
Block C2 North 526,000 0.0245 0.0134 0.0126
---------------------------------------------------------
Block C2 South 32,511,000 0.0350 0.0053 0.0180
---------------------------------------------------------
Block C1 3,544,000 0.0261 0.0029 0.0131
---------------------------------------------------------
Totals 78,218,000 0.043 0.012 0.019
---------------------------------------------------------
The estimate was prepared by Mr. David Grant BSc, MSc,
Pr Sci Nat, CGEOL, FGS, FGSSA, FSAIMM who is
the Independent Qualified Person for the purposes
of Canadian securities regulations for the Nama project.
Mr. Grant was following-up on a recommendation made in
his Technical Report for the Anomaly "A" resource,
which can be viewed at
caledoniamining.com
Indicated Resources at Anomaly "A" (as reported March 19, 2007)
-----------------------------------------------------------
Resource blocks
in Anomaly A Tonnes % Co % Cu % Ni
-----------------------------------------------------------
Block A1 9,139,000 0.0446 0.1028 0.0133
-----------------------------------------------------------
Block A2 11,366,000 0.0613 0.0288 0.0067
-----------------------------------------------------------
Block A3 4,305,000 0.0490 0.0730 0.0309
-----------------------------------------------------------
Block A4 18,846,000 0.0572 0.1463 0.0086
-----------------------------------------------------------
Totals 43,656,000 0.055 0.099 0.011
-----------------------------------------------------------
Combined Indicated Resources at Anomalies "A" and "C"
----------------------------------------------------------
Anomaly Tonnes % Co % Cu % Ni
----------------------------------------------------------
Anomaly "A" 43,656,000 0.055 0.099 0.011
----------------------------------------------------------
Anomaly "C" 78,218,000 0.043 0.012 0.019
----------------------------------------------------------
Totals 121,874,000 0.047 0.043 0.016
----------------------------------------------------------
All estimates where prepared at a 0.02% cobalt cut-off
Additional Potential -
As previously reported 16 cobalt anomalies in total have
been identified in the Nama Project area of which 5 have
been explored to varying extents.
As a priority a drilling program to investigate the
extensions to Anomaly "A", in addition to
Anomalies "C" and "D" is currently being considered
with a view to defining an additional resource
in the near future.
The remaining 11 anomalies, with similar potential to
above anomalies, all require follow-up drilling and
geological field programs.
Technical Report
As required by Canadian regulations a Technical Report,
compliant with National Instrument (NI) 43-101 specifications,
is being prepared by Mr. Grant to define the Resources
of both Anomaly "A" and Anomaly "C" at
the Nama Cobalt Project.
This report will be filed on SEDAR and on
the Caledonia website within forty-five days
of this press release.
Further information regarding Caledonia's exploration
activities and operations along with its latest financials
may be found at
www.caledoniamining.com.
Certain statements included herein are "forward-looking
statements"----discussed in documents filed by the Company
with the various regulatory authorities having jurisdiction.
Contacts:
Caledonia Mining
Stefan Hayden
President and CEO
+27 11 447 2499
Website:
www.caledoniamining.com
buck-bias
Alex Buck / Nick Bias
+44 7932 740 452
Source: Market Wire (April 16, 2007 - 9:00 AM EDT)
News by QuoteMedia
www.quotemedia.com
app.quotemedia.com
RE:
BOB - I excluded the copper in my calculations as I
figured that could pay for the operating costs.
Anomaly C 67,268,000 pounds @ $32.00 p/pound = $2,152,576,000
Anomaly A 48,022,000 pounds @ $32.00 p/pound = $1,536,704,000
Total 1,152,900,000 pounds @ $32.00 p/pound = $3,689,395,240
mmmm, market cap $67 million something tells me
this is slightly undervalued.
investorshub.com
investorshub.com
Subject 57062
Subject 9975
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