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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Thu Aug 11 2011 - 13:42:26 EDT
Eritrea
11/08/2011
http://www.ngexresources.com/s/Eritrea.asp
In Eritrea the company is exploring for volcanogenic massive sulphide
deposits. The company's most advanced project is Hambok.
Hambok is a volcanogenic massive sulphide copper/zinc project located in the
western lowlands of Eritrea approximately 200km by road west of the capital
city of Asmara. The Company's land position covers approximately 100km of
favorable stratigraphy northwest and southeast of the Bisha Deposit.
A NI 43-101 report was completed in January, 2009. Indicated resources (at a
0.75% zinc cutoff) are estimated at 10.7 million tonnes grading 0.98%
copper, 2.25% zinc, 6.84 g/t silver, 0.20 g/t gold containing 231.1 million
pounds of copper, 530.7 million pound of zinc, 2.3 million ounces of silver,
68.8 thousand ounces of gold. There is an additional inferred resource (at a
0.75% zinc cutoff) of 17.0 million tonnes of 0.85% copper, 1.74% zinc, 5.89
g/t silver, 0.19 g/t gold containing, 318.5 million pounds of copper, 652.1
million pounds of zinc, 3.2 million ounces of silver, and 103.8 thousand
ounces of gold.
The Company holds its exploration ground through <http://www.ngexresources.
com/i/pdf/Eritrea-Projects.pdf> exploration licenses granted by the Eritrean
government. The government retains a 10% carried interest in all discoveries
and has the right to acquire an additional, fully-contributing,
participatory interest in any discovery.
Maps and Photos
<http://www.ngexresources.com/i/pdf/Hambok-Block-Model-Zn-Equivalent.pdf>
http://www.ngexresources.com/i/maps/Hambok-Block-Model-Zn-Equivalent-sm.jpg
<http://www.ngexresources.com/i/pdf/Hambok-Block-Model-Zn-Equivalent.pdf>
Hambok Block Model Zn Equivalent
Eleven stacked sections (30800N - 32050N) with blocks coloured to represent
equivalent zinc grade in percent. The Hambok resource estimate was based on
57 diamond drill holes assayed for Au, Ag, Cu and Zn. Grades were
interpolated using ordinary kriging into blocks with dimensions 5 m E$B!>(BW, 20
m N$B!>(BS and 10 m vertical. Estimated blocks were then classified as Indicated
or Inferred based on grade continuity.
<http://www.ngexresources.com/i/pdf/Typical-Hambok-Section.pdf> http://www.
ngexresources.com/i/maps/Typical-Hambok-Section-sm.jpg
<http://www.ngexresources.com/i/pdf/Typical-Hambok-Section.pdf> Typical
Hambok Section
Geologic Section 31350N with a value per ton colour code within the massive
sulphide horizon.
<http://www.ngexresources.com/i/pdf/Eritrea_Project_Locations.pdf>
http://www.ngexresources.com/i/pdf/thumbs/Eritrea_Project_Locationssm.jpg
<http://www.ngexresources.com/i/pdf/Eritrea_Project_Locations.pdf> Eritrea
- Project Locations
<http://www.ngexresources.com/i/pdf/Mogoraib-License.pdf>
http://www.ngexresources.com/i/pdf/thumbs/Mogoraib-License.jpg
<http://www.ngexresources.com/i/pdf/Mogoraib-License.pdf> Mogoraib License
<http://www.ngexresources.com/i/pdf/100308_Map_AradaibProspect_DiscoveryDril
lHole.pdf>
http://www.ngexresources.com/i/maps/100308_Map_AradaibProspect_DiscoveryDril
lHole.jpg
<http://www.ngexresources.com/i/pdf/100308_Map_AradaibProspect_DiscoveryDril
lHole.pdf> Aradaib Prospect
Discovery drill hole and proposed gravity survey.
<http://www.ngexresources.com/i/pdf/AradaibProspect-MainZone2010.pdf> http:
//www.ngexresources.com/i/maps/AradaibProspect-MainZone2010.jpg
<http://www.ngexresources.com/i/pdf/AradaibProspect-MainZone2010.pdf>
Aradaib Prospect
Main Zone, June 2010 drill hole locations.
<http://www.ngexresources.com/i/pdf/AfricaProjects.pdf>
http://www.ngexresources.com/i/pdf/thumbs/AfricaProjects.jpg
<http://www.ngexresources.com/i/pdf/AfricaProjects.pdf> Africa Projects
The Company has projects in Eritrea and Republic of Congo. The most advanced
of the African projects is Hambok.
<http://www.ngexresources.com/i/pdf/Eritrea-projects.pdf>
http://www.ngexresources.com/i/pdf/thumbs/Eritrea-projects.jpg
<http://www.ngexresources.com/i/pdf/Eritrea-projects.pdf> Eritrea Projects
Extensive mineral licences that cover two key VMS projects: Hambok and
Aradaib. Also the new Bada Potash Exploration License which is located in
the Danakil Depression in Eritrea.
----[This List to be used for Eritrea Related News Only]----