Large VTEM anomaly at Kangaluwi, Zambia

Zambezi Resources Ltd has announced the discovery of a potentially significant...

  Zambezi Resources Ltd has announced the discovery of a potentially significant VTEM anomaly at the 100% owned Kangaluwi Copper Project in Southern Zambia.The Company is currently conducting a major regional VTEM survey at Kangaluwi. A total of approximately 1,630 line kms has been completed. A strong and persistent electrical conductor has been defined at the Kangaluwi Prospect in preliminary data received to date.The position of this discrete conductor suggests that it represents a down-dip extension of the copper-mineralised stratigraphy previously defined by soil sampling. This stratigraphy has been drilled to the north and west of the VTEM anomaly and yielded significant copper mineralisation over substantial widths in multiple zones.Significantly, the core of the newly defined conductor has not yet been tested by drilling. Interpretation of the preliminary data suggests that the conductor is likely to be either sulphides, or graphitic sediments.The Company anticipates that an update will be released on receipt of all data in approximately two weeks.Zambezi Resources Ltd is a Zambia-focused exploration company successfully discovering and developing multiple Copper/Gold Projects in Southern Zambia. The company has gained a first mover advantage with a large tenement portfolio covering an area exceeding 17,000km2 and it has achieved competitive superiority by assembling one of Africa’s most active exploration teams with over 25 geoscientists. With over three years of in-country experience, the application of modern exploration techniques is yielding excellent results for the Zambezi exploration team.In 2008, the company aims to drill over 100,000 metres to define major copper resources at its Cheowa and Kangaluwi projects, while developing drill targets at its Mulofwe and Mpande Dome projects. Zambezi will also continue to form strategic alliances, as it has done at Cheowa and Chalimbana where the company has Joint Ventures with Glencore.