North River Resources

North River Resources plc (‘North River’) is headquartered in London with subsidiaries in Mozambique and Namibia.

 

North River has an extensive exploration landholding in Namibia ranging from newly issued exclusive prospecting licences (‘EPLs’) to properties with identified in house copper resources some of which will be JORC compliant in late 2011. In addition North River has an EPL covering the historic Namib Lead-Zinc Mine, which is currently the subject of a conceptual engineering study after returning positive exploration intersections in Q3 2011. North River has active exploration programmes underway on all EPLs in 2011 and these are ongoing.

 

All North River’s exploration licences in Mozambique are operated under joint venture agreements.

 

Key Points:

• Advanced copper and base metals projects in Namibia offer development potential in the short term
• Significant Namibian exploration landholding offers discovery potential
• Exploration programmes targeting gold, copper, lead-zinc-silver-indium, uranium, iron ore and phosphates
• In house copper resource in Namibia of approximately 140,000 tonnes Cu
• JORC compliant copper resources expected in 2011
• High grade intersections achieved at the Namib Lead-Zinc Project in 2011 (5m @19.6% Zn, 14.3% Pd, 317g/t Ag and 144 g/t In)
• JV with Extract Resources to explore for uranium in Namibia
• JV with Baobab Resources to explore for iron ore, coal and phosphates in Mozambique
• JV with Jacana Resources to explore for uranium in Mozambique
• Excellent support infrastructure in place in Namibia
• North River has a high calibre board and management team providing a wealth of commercial experience and access to world class technical resources

Namibia:

 

 

Namibia - Namib Lead-Zinc Project

Geology and Aerial View

 

North River Resources holds 100% of the Namib Lead-Zinc Project (EPL 2902), which is centred on the previously producing underground Namib Lead Mine, which was in operation from 1965-1992.

 

The Namib Lead-Zinc Project is located 25 km from the town of Swakopmund and 55 km from the port of Walvis Bay.

 

Three ore bodies were mined previously, namely South, Junction and North ore bodies. The bulk of production was from the South and Junction ore bodies which were developed to 7.5 and 7 Level respectively (each Level being approximately 30m). The North ore body was developed to 2 Level.

 

For more information about North River Resources' Namib Lead-Zinc Project please click here. 

 

Namibia - Dordabis Copper Project

 

Kalahari Copper Belt

 

 

Magnetics and Target Areas

 

Located 90km southeast of the Namibian capital, Windhoek, the Dordabis Copper Project covers over 470km2 (EPL 3257). The Project area contains two main copper prospects, Koperberg and RK, which have been the main focus of work to date, including the drilling programmes completed in 2008 by Kalahari Minerals. A number of other copper showings have also been drill tested which all fall within 2.5km of the main Koperberg deposit (e.g. Swartberg, Klein Koperberg, Koperberg South and Balfour).

 

Two main styles of mineralisation have been defined at Dordabis; sedimentary hosted and volcanic hosted copper mineralisation.

 

For more information about North River Resources' Dordabis Copper Project please click here.

 

Namibia - Witvlei Copper Project

Magnetics and Target Areas

 

The Witvlei Copper Project covers seven known copper prospects located over a region of 550km2 (EPL 3258 and 3261). North River is currently re-assessing all previous drilling results with the aim of identifying areas for specific follow up at Malachite Pan, Okasewa, Christiadore, Witvlei Pos and Gemsbockvley. The initial focus is on the Malachite Pan Prospect where additional drilling has been undertaken during 2011 and this will be extended to the other prospects in 2012.

 

Copper mineralisation at the Witvlei Project forms part of the belt of copper deposits within the Kalahari Copperbelt/Ghanzi Chobe Belt (KCB/GCB). Copper mineralisation is hosted by grey green coloured (reduced), shale-siltstone-carbonate rocks in contact with pink coloured (oxidised) quartzites and conglomerates. This style of mineralisation is typical of sediment hosted copper deposits found in the KCB/GCB in Namibia and Botswana and also elsewhere e.g. Central African Copperbelt and Kupferschiefer (also see North River's Dordabis Project).

 

For more information about North River Resources' Witvlei Copper Project please click here. 

 

Namibia - Ubib Copper-Gold Project

Geology and Targets

 

Gold Target Area

 

North River Resources owns 100% of the Ubib Copper-Gold Project (EPL 3139) which is located 15km south-west of Namibia's longest producing gold mine, the four million ounce Navachab Gold Mine.

 

The Ubib Project area is largely underlain by rocks of the Abbabis Metamorphic Complex (AMC) which forms the basement to the Damara Supergroup in this part of Namibia. The AMC is known for numerous gold occurrences associated with megashears and it is along one of these ferruginous shears that a 1.2km laterally continuous gold in soil anomaly has been identified ('Tsawichas Target'). Best rock chip assay from the targeted drill area returned 10 g/t Au and 1.6 g/t Ag.

 

A total of six diamond drill-holes were completed for 1,123m testing the Tsawichas Target regional soil anomaly.

 

For more information about North River Resources' Ubib Copper-Gold Project please click here. 

 

Namibia - Kamkas Project

 

The Kamkas Project (EPL 4419) is located approximately 220km southwest of Windhoek and 50km northwest of the regional town of Maltahöhe. The Project covers approximately 899km².

 

At the Kamkas Project, the Company is targeting a deep airborne magnetic anomaly which lies at the intersection of a number of prominent regional structural lineaments. The Project area is underlain by rocks of the Neoproterozoic to Cambrian Nama Group which are not known for significant base metals deposits, however it is believed that the magnetic target is beneath the Nama Group rocks. Minor base metals mineralisation is known from Nama Group rocks in the area and previous sampling by the Company indicated elevated base metals values in samples from a water borehole within the Project area. These elevated base metals values could not be repeated in recent sampling, but the sample material available was possibly insufficient.

 

For more information about North River Resources' Kamkas Project please click here. 

 

Namibia - Hero Project

 

The Hero Project is made up of three EPLs (EPL 4487, 4488, 4489) covering a total of 2,941km². The Project is located about 420km northeast of Windhoek and 90km east of the regional town of Grootfontein.

 

The Hero Project is targeting the continuation of the well mineralised Otavi Mountainland which includes historically mined deposits at Tsumeb, Abenab, Berg Aukas and Kombat (amongst others).

 

For more information about North River Resources' Hero Project please click here.

 

Namibia - Nuclear Fuels Licences

 

North River has signed an agreement with major Australian uranium explorer Extract Resources Limited to jointly develop three highly prospective uranium licences in Namibia. The JV is to be known as Brandberg Energy.

 

For more information about North River Resources' Nuclear Fuels Licences please click here. 

 

Mozambique:

 

 

Mozambique - Mavusi Project

 

The Project is located in central Mozambique.

North River has entered a JV agreement with Jacana Resources whereby Jacana can earn an initial 51% of the Project licence. Further expenditure commitments by Jacana can earn up to a maximum 80%.

The Project area is a known mineralised uranium district with old historic uranium mines.

The only drilling to date has been around the old historic mine locations which revealed widespread uranium. Uranium content up to 4600 ppm.

Widespread radiometric anomalies – most of which has never been drill tested.

Area is prospective for base metals, gold and rare earth elements.

 

For more information about North River Resources' Mavusi Project

please click here. 

 

Mozambique - Monte Muande Project

 

The Monte Muande Project comprises two exploration licences covering an area of 338km² located approximately 25km northwest of the provincial capital of Tete. The licences are valid until Q3 2014.

 

The licences are underlain by the Proterozic aged Chacocoma Granite and flanking Tete Mafic Complex. A carbonatite of Cretaceous age has intermittently intruded the eastern and northern margins of the Chacocoma Granite. The south-western corner of licence 1119L is underlain by 12 square kilometres of Lower Karoo lithologies.

 

Previous exploration has targeted mineralisation within the carbonatite. During the 1980s, the Geological Institute of Belgrade (GIB) conducted exploratory works at the Monte Muande magnetite/phosphorus deposit. GIB completed two phases of vertical diamond drilling between 1983 and 1985 totalling 5,570m, 2,960m of which falls within the Joint Venture area. The institute also completed more than 10km of trenching.

 

For more information about North River Resources' Monte Muande Project

please click here.

 

David Christian Steinepreis (Managing Director) 

David Steinepreis is a Chartered Accountant and former partner of an International accounting firm where he specialised in strategic corporate advice and taxation for listed companies.  He entered commerce as a director, adviser and major shareholder of a number of listed companies in the gold, diamonds, oil and new mining technology sectors.  Mr. Steinepreis has been a resident of the United Kingdom since 2006.  He is a Non-executive Director of Norseman Gold plc which is listed on AIM and the ASX.  He is also a director of Monto Minerals Limited and Atom Energy Limited, companies listed on the ASX.  Mr. Steinepreis is also Non-executive Chairman of Ascent Capital, a company in which a trust associated with his family interests has a 50 per cent. beneficial shareholding.

 

Mark Ainsworth Hohnen (Chairman) 

Mark Hohnen has been involved in the mineral business since the late 1970s and is currently Executive Chairman of AIM listed Kalahari.  He has had extensive international business experience in a wide range of industries including mining and exploration, property, investment, software and agriculture.  He has held a number of directorships in both public and private companies and was founding Chairman of Cape Mentelle and Cloudy Bay wines, as well as the oil and coal company Anglo Pacific Resources plc.

 

Martin Stephen French (Non-Executive Director) 

Martin French started his career at Merrill Lynch and has 25 years experience in international capital markets and the junior resource sector.  He was a journalist at Euromoney magazine and the launch editor of Euroweek and later Asiamoney magazine in Hong Kong.  In 1991 he joined and later became a partner of Credit Lyonnais Securities Asia (CLSA) for eight years, running their operations in Thailand, Malaysia/Singapore, then Chinese Corporate Finance and launching CLSA’s business in Latin America.  Martin has built a career in start up operations and raising funds.

 

Glyn Michael Tonge (Non-Executive Director) 

Glyn Tonge is currently on the board of Kalahari Minerals plc and on the board of its Isle of Man subsidiaries Kalahari Uranium Limited, Kalahari Gold and Kalahari Diamonds.  He has international business, finance and management experience across a broad range of industries and for a number of years was a director of Baring Brothers & Co Ltd where he worked in corporate finance.  He is Pro Chancellor at Southampton Solent University.  He is also a Fellow of the Royal Institution in London, a Fellow of the Society of Biology and a Fellow of the Royal Society of Medicine.

 

Key Management

 

Luke Bryan – Chief Operations Officer

Luke Bryan holds a BE in Mining Engineering and a BA in economics, both from Auckland University.  His experience encompasses construction, software, manufacturing and mining.  He has been involved in the mining industry in Australia, Africa and Russia, holding senior operational and management positions, as well as a number of consulting roles.

 

Sadike Nepela – General Manager

Sadike Nepela is a graduate of the Institute for Namibia, Lusaka, Zambia as well as the University of Connecticut’s Institute of Public Service International, West Hartford, USA.  For a number of years he served as an assistant to the Minister in the Namibian Ministry of Mines & Energy before being appointed the General Manager for Westport Resources, a subsidiary of Forsys Metals Corp.  He is currently General Manager of both WAGE and Swakop Uranium.  He has close governmental ties in Namibia.

 

Keith Webb – Regional Exploration Manager

Keith Webb holds a BSc Honours in Applied Geology from the University of Strathclyde, Scotland.  He has been involved in mining and exploration geology for the past 23 years and has extensive experience within West, East and Southern Africa. Keith has overseen Kalahari’s exploration programme in Namibia for the last three and a half years.

 

AIM securities in issue - 701,200,000 ordinary shares.

Percentage of shares not in public hands - 51.8%.

Key Shareholders	Ordinary Shares	Percent
Kalahari Minerals plc	266,666,667	38.03%
Pershing Nominees	11,490,500	1.93%
Mantra Resources Limited	10,000,000	1.68%
Lynchwood Nominees Limited	8,429,500	1.42%
Hanover Nominees Limited	8,000,000	1.35%
Dartington Portfolio Nominees	7,000,000	1.18%
Fiske Nominees Limited	5,350,000	0.90%
Morstan Nominees Limited	5,000,000	0.84%
Sunvest Corporation	3,100,000	0.52%

 

Directors	Ordinary Shares	Percent
David Steinepreis	18,258,700	3.07%
Martin French	10,000,000	1.68%
Glyn Tonge	666,667	0.11%
Mark Hohnen	Nil	Nil

 

Key Shareholders and AIM securities in issue as of 26.10.10.

 

 

Updated from North River Resources website 21.10.11