North River Resources, a South Africa-focused mining company, has reported a maiden Joint Ores Reserve Committee compliant resource at its wholly-owned Namib Lead-Zinc Project in Namibia of 668,000 tonnes at 6.6 per cent zinc, 2.5 per cent lead, 46g per tonne silver and 33g/t indium.
Of this, 588,000 was inferred and 80,000 was indicated.
Managing Director, David Steinepreis, said: "This maiden JORC Resource at our NLZM project further reinforces our confidence that there is significant potential to recommence mining operations. In line with this, the completion of our conceptual engineering study will be a key milestone in the evaluation of the optimum path to production.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"In addition to the continued advancement of our conceptual engineering study, we also remain focussed on the resource development and expansion of the project. We have a conceptual exploration target of an additional 900,000 tonnes which, if converted to resources through further exploration work, could bring the project's total resource base to over 1.50m tonnes."
The share price leapt 9.09% to 0.90p by late morning.
NR
-
Investment trusts for your ISALooking to add investment trusts to your ISA? Here’s our pick of the top trust to consider before for your stocks and shares ISA
-
Billions of pounds languishing in low interest accounts as savings rates slashedSavers are being urged to act as billions of pounds earn paltry interest rates. It comes as interest rates on variable savings accounts have fallen to their lowest levels since 2023.
