North River Resources Announces Interim Results on Lead-Zinc Project

North River Resources (LON:NRRP), the resource company focused on the Namib Lead-Zinc Project in Namibia, has provided its unaudited interim results for the six months.
According to the press release:

• North River continued in its efforts to secure a mining licence for the Namib Project. A Notice of Preparedness to Grant the Mining Licence was received from the Namibian Ministry of Mines and Energy (“Ministry”) in January 2016, setting out a process and timeline for agreement on newly introduced licence conditions, and a formal proposal to address these conditions was submitted to the Ministry in late April 2016. The Ministry is yet to respond to this proposal.

• The 3,800 metre drill programme continued to progress in the first half of the year, with a number of drill holes showing significant mineralisation. Overall results, however, have been mixed, with drill holes not intersectingmineralization to the extent anticipated, indicating that achieving a significant increase in defined mineral resource will require further work to improve understanding of the structural complexity of the orebody at depth. Since 30 June 2016, the programmed drilling metres have been completed in early September, and next steps will be defined following completion and assessment of final assays.

• A loss before taxation reported for the 6 months to 30 June 2016 of £1,302,437 (30 June 2015: loss of £1,377,787).

Click here for the full press release.