ZAMBEZI RESOURCES LIMITED
Kangaluwi Update
ZRL - Chisawa RC Results- Mr Julian Ford, MD
Thu, 21 Aug 2008 01:00PM
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Mr Julian Ford
Thu, 21 Aug 2008
01:00PM Australia/NSW
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ZAMBEZI RESOURCES LIMITED (ZRL)
ASX code: ZRL,ZRL
Website: http://www.zambeziresources.com
Industry: Materials,General Mining
Principal Activities:
Exploration for copper, gold and uranium.
Address:
17 Ord Street, Ground Floor
WEST PERTH
WA
Phone: (08) 9216 9000
Fax: (08) 9216 9090
Executives & Directors
Mr Brian Rear , Non Exec. Chairman
Mr Julian Ford , Managing Director
Dr Geoffrey Johnson , Executive Director
Mr Jeremy Wrathall , Non Exec. Director
Mr Lloyd Flint , CFO
Ms Renee Hill , Company Secretary
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Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
ZAMBEZI RESOURCES LIMITED (ZRL) Events
Australia/NSW
ZAMBEZI RESOURCES LIMITED (ZRL)
| Updated shareholder information | Fri, 4 Jul 2008 |
| Company Secretary Appointment/Resignation | Fri, 4 Jul 2008 |
| Uranium Joint Venture Update | Wed, 2 Jul 2008 |
| Copper Gold Projects Update | Wed, 18 Jun 2008 |
| Copper Gold Projects Update | Tue, 20 May 2008 |
| Withdrawal of Becoming a substant. holder dated 6 July 2007 | Wed, 14 May 2008 |
| Large VTEM Anomaly Defined at Kangaluwi Copper Project | Fri, 9 May 2008 |
| Quarterly Activities and Cashflow Report | Wed, 30 Apr 2008 |
| Substantial Mineralisation intersected at Kangaluwi Project | Tue, 29 Apr 2008 |
| Cheowa Copper-Gold Project Drilling Results | Tue, 15 Apr 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH JULIAN FORD, MANAGING DIRECTOR OF ZAMBEZI RESOURCES LIMITED (ZRL)
“ZRL - Chisawa RC Results- Mr Julian Ford, MD”
http://www.brr.com.au/event/49723
THURSDAY, AUGUST 21, 2008, 1:00 PM.
BRR Today on Boardroom Radio we’re joined by Mr. Julian Ford, the Managing Director of Zambezi Resources. Julian, glad to have you back on Boardroom
10 Radio.
ZRL Good morning, Joel.
BRR Julian, there was an announcement out to the market yesterday evening. It’s another good result from the Kangaluwi Copper Project. What does that
15 mean overall for the project?
ZRL Joel, this is good news. We’ve drilled about 3.5km of strike length at Chisawa. These forms part of 2km which we now have results on, still waiting for the results from the other one (inaudible) (0:00:28) strike. And basically, what we’ve got of the 2km that we’ve got results from is a consistent mineralisation
20 across the entire 2km and really about 60cm wide and probably averaging close to 14m at about 1% copper. We think this is close to true width. And in our opinion, this is an economically (inaudible) (0:00:50) pit top mineralisation. Obviously, we got to wait for those JORC results and convert that into resource and then reserve. We think we are pretty close to achieving
25 our target of 40 million tons at about 1% copper from our 55,000 meters drill already. So, you know, that’s a lot better than we expected. We didn’t expect to get there probably for another, you know, a year which is very good news for us.
30 BRR Now, Julian, Zambezi recently announced a strategic redirection and you’ve retained one drill rig at Kangaluwi, what does this mean? What sort of impact does this had for the program and the schedule of Kangaluwi going forward?
ZRL Joel, the good news is that, you know, what we’ve drilled to date to the limbs of what’s the model synform. Two of this synforms is modelled out there. This
35 is much easy drilling the limbs where you likely get much wider mineralisation and to make the world-class project is on the (inaudible) (0:01:43). However, (inaudible) (0:01:44) is structurally more complex and so from the exploration point of view, this is high risk, high reward, so we’ve gone for the low-risk option initially. That single rig has now completed drilling at Chisawa and
40 Kangaluwi all be that readily wide sections. That’s now mobilised and will drill about two and a half thousand meters of RC into each of (inaudible) (0:02:04) Imbo. These are the noses. And, you know, given that, we’ve probably reached our 40 million tons already. The next three months will really indicate whether we achieve, you know, next hurdle of probably 100 or 200 million
45 tons. We really have to wait until we get in and drill. I think if we achieve that, then we really have a world-class project and I think we got a real chance of getting there, which is remarkable given that we’ve only now got one drill rig there. But I think that’s a testament to the quality of this project.
BRR And Julian, finally, shifting away from the exploration sort of things and looking at some geopolitical factors. The president of Zambia passed away recently after a long illness. In fact, I think it was yesterday he passed away. How does this change in your operating environment in Zambia, especially in
5 the context of your approach that?
ZRL Well, firstly Joel, President Mwanawasa has been an excellent president for the Zambian people. You know, he successfully tackled both corruption inflation and got inflation down to below 10%. Zambia is being one of the standout economies in Africa, not only from a mining perspective, but both
10 agriculture and tourism has been averaging double digit compound annual gross rates. And so he leaves behind a positive legacy, fully functioning democracy and the country’s great prospect. I think from a Zambezi perspective, I’m confident that the next few months, the government and the stakeholders will address some of the controversial issues, the mining
15 windfall taxes from the new mining act that came in April. We are very confident about that. We’re making great progress in the country. And I’m confident that with the new president elected in the new year, we will re-establish a good operating regime, the fiscal regime in Zambia. And assuming this has achieved, will give us an investment community, you know,
20 the ability to re-establish what has been one of Africa’s most aggressive and successful exploration programs. You know, we’ve got Rio in there with the major Uranium Joint Venture. We’ve also got Lithic in there who are drilling uranium targets at the moment. And we have a whole lot of this other Kangaluwi look a likes. So we’re pretty confident getting forward. Obviously,
25 the strategic redirection had to take account of the current capital markets and the current political environment in Zambia and view was a sensible thing was to put things on hold. However, the fact that there will be a president election in the next 90 days, gives us confidence that come 2009, we can tackle our projects with a renewed vigour and confidence.
30
BRR Julian, thanks a lot for those comments and thanks for your time today.
ZRL No worries. Good to talk to you again.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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