Encouraging news from Sheba Exploration this morning :-
http://fool.uk-wire.com/Article.aspx?id=20110207070313M3633
Operational Report 39
EXTENSIVE GOLD TRENDS DEFINED
Sheba Exploration (UK) Plc, the Ethiopian focused gold exploration company, is pleased to announce further
soil sampling results from its Una Deriam licence.
Summary:
- 400 new gold soil samples have been analysed from the Una Deriam licence.
- Two arc-shaped gold trends have been defined, one of 7 km and another of 3 km.
- A strong gold anomaly of dimensions 1000m x 400m was defined at Datalian.
Currently, soil samples are being collected along the Una Deriam gold trend in search of additional
extensions to the gold mineralised system. A further 400 soil samples have been already analysed for gold
and more are being tested. The analytical results reveal two main gold trends with a combined strike of 10
kilometres, while infill soil sampling has defined a prominent gold target of dimensions 1000m x 400m at
Datalian.
Regional soil sampling
Soil sampling is being carried out at 200m x 100m spacing along the strike of the main north-south gold belt
in the licence area. The 400 new soil results, taken together with 1610 samples previously analysed, have
revealed two continuous arc-shaped anomalous trends. The northern gold arc is about 7 kilometres in length
and 1.5 kilometres wide and is defined by a number of high gold values (over 1000ppb) in a mass of elevated
gold values (over 100ppb). The arc contains a number of gold prospects which have been trenched or drilled to
a limited extent (e.g. Ndaba Shekena, 40m at 1.3 g/t trenched, 27m at 1.3 g/t drilled). The southern arc is
continuous for about 3 kilometres and is about 0.5 kilometres wide and has discontinuous extensions for a
further 3 kilometres to the south. This arc contains a well defined gold soil anomaly at the old Datalian
gold camp.
Datalian infill soil sampling
Soil sampling density over the Datalian prospect was increased with staggered sampling lines at 100m x 50m
spacing. A continuous gold target has been defined in soil with a number of peak values ranging 500-5000ppb
gold and margins defined by the 100ppb contour. The target is lenticular to oval in plan, about 1000 metres
long and up to 400 metres wide. Gold workings are scattered throughout and are usually small surface soil
scrapings or shallow pits. The main host units for the gold mineralisation are dacite and rhyolite
metavolcanics. Quartz veins carry gold and follow the bedding trend but cut across the dip. A shear zone
locally re-directs gold along its foliation. Three trenches were recently dug across the shear zone and
channel samples are currently being analysed. Rock grab samples from the area range up to 6.1 g/t gold.
Datalian is the fifth gold target of respectable size to be defined on the licence area. It is located only a
few hundred metres south of a regional trunk road and access to mainline power and perennial water is
assured. Early Italian prospectors identified the prospect in 1903 and made several box-cuts and adits into
the shear zone. The current work has shown an extension along strike in both directions with continued high
gold values persisting for three kilometres.
The Directors of Sheba Exploration (UK) Plc are responsible for the contents of this announcement.