Mukuba Resources Limited

Mukuba Resources Limited

August 10, 2009 10:04 ET

Mukuba Confirms Main Lithologies Belong to Lower Roan Group, Which Is Highly Prospective for Cu-Co Mineralization in the Zambian Copperbelt

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2009) - Mukuba Resources Limited ("Mukuba") is pleased to announce that it has received an updated geological interpretation of its 2008 geophysical and geochemical data from SRK Consulting ("SRK") in Perth, Australia. SRK were commissioned to utilize Mukuba's full dataset, including all new information, and to provide an independent interpretation of the geology and structure. Conclusions from the report on tenement PLLS356, dated July 2009, include the following highlights:

- The main lithologies in the central part of the tenement belong to the lower part of the Roan Group, which is highly prospective for Cu-Co mineralization.

- Ore shale may occur at depth along the margins of concealed basement domes.

- The base of the Nguba Group provides an additional exploration target for the identification of Frontier-type deposits.

- Abundant major structures, mainly thrusts in the Lower Roan, provided suitable pathways for the migration of large volumes of metal-bearing brines during the Lufilian Orogeny, thereby enhancing the prospectivity of the Mukuba tenement.

- Thrusts in the Lower Roan may have developed along the Ore Shale Member - bounding quartzite interfaces, enhancing the exploration potential of these structures in particular.

Mukuba has also completed three holes of its reconnaissance drilling program and is awaiting results.

Trevor Richardson, President and Chief Executive Officer of Mukuba stated, "We are pleased to note that the SRK report has further and independently confirmed the interpretation completed by the Mukuba on the Northcore Project. SRK has confirmed our belief that the Northcore Project has the potential to host multiple types of copper-cobalt mineralisation across numerous targets, and indentified potential further styles of mineralisation. The 2009 diamond drilling program is underway to test selected targets and we anticipate receiving the results in the near future".

About the Company

The business of Mukuba consists of the exploration and development of two early-stage exploration projects (the Northcore Project and the Lunga Project) in the highly prospective Central African Copperbelt region of Central Zambia:

- The Northcore Project area encompasses approximately 4,562 km2 of geologically prospective ground in the Domes Region of the Zambian Copperbelt. The Northcore Project is licensed for copper and cobalt. Geological mapping, soil sampling and investigation of the historical showings as well as ground-truthing of the geophysical survey results have confirmed the historical geological anomalies, and identified new anomalies. The 2009 exploration program includes drilling several of these anomalies.

- The Lunga Project area adjoins the south-west margin of the Northcore Project area, and is licensed for copper, cobalt, and other base metals. The property encompasses 480 km2 and contains numerous geochemically delineated copper and zinc anomalies along 10 kilometres of strike that also extend into the Northcore Project area. The Company can earn an 80% interest in the Lunga Project area through a farm-in agreement by completing a preliminary feasibility study.

The Central African Copperbelt is the world's largest and highest-grade sediment hosted stratiform copper province and includes both the Zambian Copperbelt and the Congolese Copperbelt which is located immediately to the north in the Democratic Republic of Congo. Over 95% of the known Zambian copper reserves occur in rocks of the Lower Roan Group, or in the adjacent basement complex. The Northcore Project area contains roughly 2,000 km2 of the Lower Roan Group.

Mr. Chris Meyer, Pr.Sci.Nat., is a "qualified person" as defined by National Instrument 43-101 overseeing Mukuba's exploration programmes. Mr. Meyer has supervised the preparation of the technical information contained in this press release.

Forward-looking Information

Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.

Contact Information

  • Mukuba Resources Limited
    Trevor Richardson
    President and Chief Executive Officer
    +1 (416) 918-2242