Hi Banro Fans:
Heri is the latest press release:
TWANGIZA PHASE 1 DRILL PROGRAM COMPLETED.
REMAINING ASSAY RESULTS TO BE REPORTED IN TWO STAGES.
TORONTO, March 19 /CNW/ - Banro Resource Corporation is pleased to report
that Phase 1, of the Twangiza diamond drill program, consisting of 9,251
meters in 19 holes, covering approximately 800 meters of strike, has been
completed.
Diamond drill holes 1 thru 6 were previously reported by the Company in
press releases dated November 10, 1997, thru January 21, 1998, respectively.
Assay results from diamond drill holes 7 thru 12 at the Twangiza Deposit
located in Kivu Province in the eastern region of The Democratic Republic of
The Congo are as follows:
TW97-7 was collared 460 metres to the north-northwest of TW97-4 (ref:
press release dated January 14, 1998) and drilled at a -70 degree angle
along the fold axis and across the plunge of the known deposit to a depth
of 477.0 metres.
<<
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Drill Hole From To Length Length Au Au
(m) (m) (m) (ft) (g/t) (oz/t)
-------------------------------------------------------------------------
1 g/t(0.03 oz/t) cutoff
-------------------------------------------------------------------------
TW97-7 14.00 121.50 107.50 366.36 1.19 0.035
-------------------------------------------------------------------------
incl. 14.00 37.20 23.20 75.10 3.49 0.102
-------------------------------------------------------------------------
158.95 170.00 11.05 33.68 2.13 0.062
-------------------------------------------------------------------------
TW98-10 was collared 360 metres to the north-northwest of TW97-4 and
drilled at a -70 degree angle along the fold axis and across the plunge
of the known deposit to a depth of 235 metres.
-------------------------------------------------------------------------
Drill Hole From To Length Length Au Au
(m) (m) (m) (ft) (g/t) (oz/t)
-------------------------------------------------------------------------
1 g/t(0.03 oz/t) cutoff
-------------------------------------------------------------------------
-------------------------------------------------------------------------
TW98-10 2.25 179.00 176.75 602.35 1.85 0.054
-------------------------------------------------------------------------
incl. 23.80 168.00 144.20 439.52 2.14 0.062
-------------------------------------------------------------------------
incl. 32.00 52.00 20.00 60.96 7.25 0.211
-------------------------------------------------------------------------
>>
Diamond drill holes TW97-8, TW97-9, TW98-11 and TW98-12 were all drilled
at near right angles to the trace of TW97-7 and TW98-10 and were situated to
the west of the fold of the anticlinal axis and drilled in an easterly
direction across the deposit.
<<
TW98-11 was collared 200 metres west-southwest of TW97-4 and drilled at a
-50 degree angle to a depth of 518.5 metres.
-------------------------------------------------------------------------
Drill Hole From To Length Length Au Au
(m) (m) (m) (ft) (g/t) (oz/t)
-------------------------------------------------------------------------
1 g/t(0.03 oz/t) cutoff
-------------------------------------------------------------------------
-------------------------------------------------------------------------
TW98-11 132.30 404.00 271.70 925.95 1.41 0.041
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incl. 188.00 249.20 61.20 200.74 1.80 0.052
-------------------------------------------------------------------------
and 286.00 404.00 118.00 387.40 1.89 0.056
-------------------------------------------------------------------------
TW97-8 was collared 360 metres north-northwest of TW98-11 and drilled at
a -50 degree angle to a depth of 500.0 metres.
-------------------------------------------------------------------------
Drill Hole From To Length Length Au Au
(m) (m) (m) (ft) (g/t) (oz/t)
-------------------------------------------------------------------------
1 g/t(0.03 oz/t) cutoff
-------------------------------------------------------------------------
-------------------------------------------------------------------------
TW97-8 3.00 221.85 218.85 667.05 1.18 0.034
-------------------------------------------------------------------------
incl. 26.00 105.00 79.00 240.79 2.16 0.063
-------------------------------------------------------------------------
TW97-9 was collared 200 metres north-northwest of TW98-11 and drilled at
a -50 degree angle to a depth of 558.0 metres.
-------------------------------------------------------------------------
Drill Hole From To Length Length Au Au
(m) (m) (m) (ft) (g/t) (oz/t)
-------------------------------------------------------------------------
1 g/t(0.03 oz/t) cutoff
-------------------------------------------------------------------------
-------------------------------------------------------------------------
TW97-9 80.00 104.00 24.00 73.15 1.84 0.054
-------------------------------------------------------------------------
225.00 444.00 219.00 746.35 1.20 0.035
-------------------------------------------------------------------------
incl. 341.00 362.70 21.70 66.14 2.98 0.087
-------------------------------------------------------------------------
TW98-12 was collared 600 metres north-north-west of TW98-11 and drilled
at a -45 degree angle to a depth of 401.0 metres.
-------------------------------------------------------------------------
Drill Hole From To Length Length Au Au
(m) (m) (m) (ft) (g/t) (oz/t)
-------------------------------------------------------------------------
1 g/t(0.03 oz/t) cutoff
-------------------------------------------------------------------------
-------------------------------------------------------------------------
TW98-12 78.50 124.00 45.50 155.06 1.24 0.036
-------------------------------------------------------------------------
151.00 168.90 17.90 61.00 1.19 0.035
-------------------------------------------------------------------------
>>
All samples, drawn at approximately 1 meter intervals, from the sawed
half core, under the supervision of CME and Company, were fired assayed by
Acme Analytical Laboratories of Vancouver, Canada.
Diamond drill holes 13 thru 19 will be released once assay results are
available.
Phase II Program: In-Fill Drilling and Pre-Feasibility Work
The Company will initiate Phase II diamond drilling in the near future as
part of its ongoing development program at Twangiza. The program will include
in-fill drilling the 7 million ounce open-pitable gold resource delineated
during the Phase I program. Additional areas along strike will also be drilled
to test further mineralised zones identified by surface mapping during Phase
I. The Phase II program has been put out to tender with a number of senior
geo-technical consulting firms.
As part of the pre-feasibility work, Company President and CEO, Bernard
van Rooyen reports that, ''Test work on core material from Twangiza will
establish process parameters for gold extraction from oxide and sulphide
ores.''
''Initial test work on the oxides showed the ore to be amenable to direct
cyanidation with recoveries of 84% from unmilled ore. The traditional route
for this material would be heap leaching and gold recovery by CIL.''
''Preliminary mineralogy studies by Gold Fields Laboratories in South
Africa indicate that the gold mineralization in the sulphide ore at Twangiza
tends to be intergranular with quartz, pyrite and arsenopyrite and would be
conventionally processed through crushing, grinding, flotation and cyanidation
methods.''
''The metallurgical tests, which will form part of the pre-feasibility
study, will be conducted by a recognised, independent testing laboratory, in
order to confirm the results of Gold Fields Laboratories. Results will be
released as they become available.''
Banro Resource Corporation is a gold exploration and development company
with 47 mining concessions encompassing an area of 10,271 square kilometers in
the Democratic Republic of The Congo. Banro's common stock is quoted on the
Canadian Dealing Network (CDN), under the symbol ''BNRS''. The Company has
13,451,218 common shares issued and outstanding.
-30-
For further information: on Banro, please visit our Web Site at
banro.com or contact: A.T. Kondrat, Co-Chairman; Michael Nikiforuk,
Vice-President, Director; Cliff Jones, Investor Relations; Phone:
(416) 366-2221, Fax: (416) 366-7722; From outside Toronto, call toll-free:
1-800-714-7938; In Johannesburg, S.A., contact: Bernard van Rooyen,
President & CEO, Banro Resource Corporation, Phone: 2711 476-5031, Fax:
2711 476-5049
BANRO RESOURCE CORPORATION has 16 releases in this database.
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