North River reports maiden JORC resource for Namibian project
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.
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
'We face a £6m inheritance tax bill under Reeves's changes – it's sheer terror'
Thousands of families fear they’ll have no option but to look at selling their firms in a fire sale to pay inheritance tax bills, due to Rachel Reeves’s changes to business property relief
-
Millions of over 50s fear pension investment risk – how should you position your portfolio?
To de-risk or not to de-risk, that is the question. Act too late and you could face irreversible losses. Move too early and miss out on significant gains that could transform your retirement.