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.
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"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.
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