Luanshya progress
Published: 03/02/2006, 07:00
Weatherly International PLC 03 February 2006 3 February 2006 Weatherly International plc ("Weatherly" or the "Company") Luanshya progress update The Board of Weatherly announces that the Company has completed the first steps towards the redevelopment of the decommissioned Luanshya mine in Zambia's copperbelt, following the acquisition of Puku Minerals Limited which was announced on 15 December 2005. The Company has completed preliminary tests on samples from the tailings dam and the results have confirmed the presence of copper in potentially commercial grades. Following these results, Weatherly also announces the appointment of a leading South African contractor to drill out the entire dam. This work is expected to begin immediately, paving the way for a full feasibility study. Weatherly CEO Rod Webster said, "The preliminary results we have now obtained are sufficiently encouraging to warrant this next phase in our programme. This is an exciting time for Weatherly as we progress in our plan to use modern processing techniques to rework one of Zambia's larger copper mines." For further information please contact: Weatherly International plc Rod Webster, Chief Executive +44 (0) 20 7917 2989 John Norris, Company Secretary Libertas Capital Brad Cheng / Aamir Quraishi +44 (0) 20 7569 9650 First City Financial Sarah Samworth +44 (0) 20 7436 7486 Information on Weatherly Weatherly's main activity is that of exploration and development of mining and mineral projects. The Company holds certain exploration and development rights to a copper mining project in Zambia, covering a decommissioned copper mine and tailings dam situated in Luanshya, in the Zambian copperbelt (the copper-producing region of Northern Zambia). The Luanshya Copper Project (an area defined by these prospecting licences) is considered by the Board of Weatherly to be one of the larger copper resources in Zambia with up to 1.4 million tonnes of copper contained in resource categories. The Board of Weatherly estimates that the Luanshya Copper Project could be capable of producing up to 60,000 tonnes of copper annually using modern, proven mining and processing techniques. This information is provided by RNS The company news service from the London Stock Exchange