RNS Number : 1315H
  Zambezi Resources Ltd
  31 October 2008
   

    31 October 2008
    Zambezi Resources Limited  
    ("Zambezi" or "the Company")

    September 2008 Quarterly Report
    HIGHLIGHTS FOR THE QUARTER

    COPPER PROJECTS

    Cheowa - Glencore JV

    *     Deep Diamond Drilling at CC2 demonstrates mineralisation continues to depths of at least 500m. Drilling is now complete. 

    *     New  results from CC2 include: 
    1.0m at 1.36% copper and 8.89g/t gold from the 200m - 400m panel
    4.25m at 2.62% copper from the 200m - 400m panel
    4.0m at 1.49% copper from the 200m - 400m panel
    6.0m at 1.11% copper from the 200m - 400m panel
    2.0m at 1.78% copper from the 200m - 400m panel

    Kangaluwi

    *     Kangaluwi drilling continues to return substantial mineralised widths in multiple zones including: 13m at 2.36% copper, 15m at
1.47% copper, 9m at 1.79% copper.

    *     Mineralisation remains open along strike and at depth with a total strike of 4km now tested by drilling.

    *     Chisawa RC drilling returns substantial mineralised widths in multiple zones including: 12m at 1.36% copper, 14m at 1.52% copper,
18m at 1.3% copper.

    *     Total strike tested at Chisawa during the quarter is 4.1km with mineralisation persistent along total strike tested.
Mineralisation remains open both along strike and at depth.

    URANIUM PROJECTS

    Lithic Uranium JV identifies first in-situ uranium bearing mineral davidite at several trench locations and in drilling at Oryx. Trench
results return; 3m at 642ppm U3O8, 1m at 839 ppm U3O8, 3m at 292 ppm U3O8

    CORPORATE 

    During the quarter the Company raised A$1.2m through a rights issue where 9,690,895 shares and 3,230,214 listed options were issued.  As
a result the Company now has 197,876,174 shares on issues and 3,230,214 listed options exercisable at 19 cents that are quoted on the ASX. 
The rights issue was targeted to raise A$4 million at a price that was then 25% below the prevailing Zambezi share price and would have
raised sufficient funds to see the Company complete the 2008 revised drill programs and provide working capital for the next 18 months. 
However, as a result of the decline in the share price the Company has been unable to place the 71% shortfall as had originally been
envisaged.  As a result, the financial situation of the Company has deteriorated substantially and has been exacerbated by the decline in
global equity markets and the copper price.

    Strategic Review

    As announced on 31 July 2008, the Company ceased all drilling operations bar one drill rig that continued to drill targets at the
Company's flagship Kangaluwi Project.  This arrangement expired on the 15 September 2008 at which stage the last drill rig was demobilised. 
As a result of the strategic review the Company retrenched 26 non professional staff in August and seconded 8 geologists to work for other
companies in the Sub Saharan African region.  

    OPERATIONS 

    During the Quarter ended 30 September 2008, further significant progress was made on the Company's priority Zambian projects. Drilling
was completed at the Cheowa, Mulofwe and Kangaluwi Copper Projects. Further encouraging assay results were received for both the Cheowa and
the Kangaluwi Copper Projects. 

    Results are still pending from drilling completed on the Kangaluwi Copper Project and the Mulofwe Project with 17,800 analytical results
still awaited.  As a result of the Company's financial situation, all assay samples were put on hold as of the 15th September 2008.

    To ensure that improved sample turnaround times are maintained, the Company previously announced that it had entered into a Memorandum
of Understanding with a world-leading analytical services company to install and manage a dedicated sample preparation facility in Lusaka.
Installation of this facility is underway and was expected to be operational in Q4 2008. The analytical services company has however decided
to establish the operation as a stand alone facility in an adjacent building to Zambezi's warehouse facilities in Lusaka.  This is deemed to
be an ideal situation for Zambezi.

    COPPER PROJECTS

    Cheowa - Glencore JV

    At the Cheowa Copper-Gold Project, where Glencore International AG ("Glencore") is earning an initial 51% interest by spending US$10
million, the Company continued drilling in Q3 with two diamond drilling rigs. Joint Venture partners Glencore and Zambezi have agreed to
combine the Cheowa and Chongwe Copper Belt ("CCB") joint ventures into a single joint venture.  To earn a 51% interest in the original
Cheowa and CCB joint ventures, Glencore had to spend US$10 million and US$6 million respectively, for a total of US$16 million.  In the
period to 30 September 2008, Glencore have collectively spent US$15.6m and are expected to reach the 51% threshold on both projects in the
December 2008 quarter

    To date, 18,500m of a deep drilling program testing the 200-400m and 400-800m vertical depth panels at the CC2 prospect has been
completed, with 2,024m completed during the quarter, as part of the objective of building the Cheowa resource inventory towards 10 million
tonnes. 

    This drilling includes a suite of holes to provide samples for further metallurgical testwork. Assays are awaited, but visible
mineralisation intersected to date is consistent with that previously reported throughout this panel. A Prefeasibility study is underway for
the Cheowa Project with results for metallurgical testwork still pending. These results are expected in Q4 2008.

    The Company has focussed its attention on CC2 which is perceived to be the most highly mineralised zone within an overall corridor of up
to 14km.

    The Mineral Resource estimate has been completed in accordance with the 2004 JORC Code for CC2, with an Indicated Resource of 3.5mt @
1.1% copper and 0.23g/t gold and an Inferred Resource of 2.9mt @ 1.1% copper and 0.38 g/t gold (Table 1). This remains unchanged from the
previous quarter pending the receipt of assay results.

    Table : Mineral Resource Estimate, Cheowa Copper Gold Project1
                     Tonnes2   Cu3 %  Au4 (g/t)  Copper (t)  Gold (oz)
 Indicated Resource
 CC2                3,545,000  1.14     0.23       40,000     26,000
 Inferred Resource
 CC2                2,961,000  1.12     0.38       33,000     36,000
 TOTAL              6,506,000  1.13     0.30       73,000     62,000
    1 Glencore earning 51%; 2 SG 2.35 for oxide zone, 2.71 for transition zone, 2.81 for fresh rock;  3At a lower cut of 0.3% copper, and a
top cut of 7.3% copper;  4Reported within the comparable copper volume, top cut of 2.3 g/t gold.

    The 200m-400m panel at CC2 has now been tested with 51 diamond holes. The results of this drilling will be used for an updated resource
in Q4 2008. 

    Joint Venture partners Glencore and Zambezi have agreed to combine the Cheowa and Chongwe Copper Belt ("CCB") joint ventures into a
single joint venture.  To earn a 51% interest in the original Cheowa and CCB joint ventures, Glencore had to spend US$10 million and US$6
million respectively, for a total of US$16 million.  In the period to 30 September 2008, Glencore have collectively spent US$15.6m and are
expected to reach the 51% threshold on both projects in the December 2008 quarter.


    Table : Cheowa Project Diamond Drill Hole Assay Results Q3
 Drillhole    Coordinates    Collar  Dip   Azi    Total     From     To    Interval   Cu    Au
                             Elevn.               Depth     (m)     (m)     Width     %    g/t
                                                   (m)                       (m)
              E        N
 CHEDD0114  729391  8267090    1086  -55  159.5    323     243.00  252.00      9.00  0.84  0.05
 CHEDD0125  729391  8267091    1086  -50  159.5    350     284.30  285.00      0.70  1.46  0.12
 CHEDD0129  728795  8266700     978  -64  161.5    280     248.75  253.00      4.25  2.62  0.94
 CHEDD0135  728429  8266532    1033  -55  159.5   250.20   232.00  236.00      4.00  1.49  0.26
 CHEDD0145  728630  8266614     972  -70  159.5   308.5    259.00  265.00      6.00  1.11  0.33
 CHEDD0145  728630  8266614     972  -70  159.5   308.5    273.00  275.00      2.00  1.78  0.35
    All reported intercepts are from CC2; Coordinate system Arc50 UTM Zone 35S. Mineralised intervals calculated on basis of lower cutoff of
0.3% Cu, minimum mineralised interval of 0.5m, maximum internal waste of 1m. Mineralised intervals >3m% copper reported here. No cut applied
to gold values. At CC2, mineralisation dipping to north at 50-55 degrees. Mineralised widths reported on downhole basis, true width
approximately downhole width x 0.9 . For all other prospects, mineralised widths reported on downhole basis, true widths not yet
established., CHEDD prefix denotes diamond drillholes. 

    Kangaluwi : 100% Zambezi

    The greater Kangaluwi Project Kangaluwi Copper Project (PL 214) consists of the Kangaluwi, Chisawa, Imboo and Kalulu prospects and a
number of as yet named targets. The project covers an area of approximately 18km by 8km as defined by surface geochemical sampling, although
the interpreted mineralised structure extends beyond the boundaries of the currently defined project area. The current Kangaluwi area covers
7% of the Zambezi Prospect PL214.  The Company will reduce the tenement area by 50% and has lodged renewal notice for another two years on
PL214.

    Zambezi has carried out extensive Heli-bourne Radiometric, Magnetic and VTEM surveys over the area over the past two years having
initially carried out detailed ASTER interpretation four years ago. The 
    Company thus has a detailed structural understanding of the project where mineralisation is believed to be structurally controlled.
There are also a number of gold prospects within the project which are now considered of secondary importance to the more consistent copper
prospects. The Company has to date spent approximately US$ 15 million on the Zambezi tenement, two thirds of the expenditure targeting the
copper Projects. To date approximately 51,000 metres of RC and diamond holes have been completed on the greater Kangaluwi prospect.

    RC drilling carried out in 2006, 2007 and 2008 has returned significant copper mineralisation over substantial widths in multiple zones.
Results include 18m at 1.42% copper from 114m, 17m at 1.24% copper from 49m, 10m at 1.97% copper from 30m and 18m at 0.63% copper from
surface. Diamond drilling carried out in 2007 and 2008 has confirmed down dip continuity of mineralisation (Table 4).  Results include 19.2m
at 1.14% copper from 92m, 8.07m at 2.98% copper from 145.34m, 6.14m at 1.29% copper from 157.68m, 7.32m at 1.40% copper from 161m, 5.46m at
1.66% copper from 108.54m, and 6.43m at 1.02% copper from 125.98m. Drillhole assay results are tabulated in Tables 3 and 4.

    Two other prospects within the Kangaluwi Copper Project, Chisawa and Kalulu were tested by limited drilling in 2006 and 2007,
respectively. During 2008 Chisawa and Kalulu were drilled at nominal 200m spaced RC traverses on 100m centres. Limited drilling was carried
out at the new Imboo prospect on 200 x 100m centres to cover a strike of 0.7km. Initial results suggest that mineralisation at these
prospects is similar to that encountered at the Kangaluwi Prospect.

    To 30 September 2008, 71 RC holes for 17,058m, and 18 diamond holes for 5,372m were completed for a total of 17,058m at the Kangaluwi
Prospect, 63 RC holes were completed for a total of 10,011m at the Chisawa Prospect, 20 RC holes were completed for a total of 2560m at the
Kalulu Prospect and 4 RC holes for a total of 360m at the Imboo Prospect. Total drilled metres for the Kangaluwi Copper project for 2008 is
29,989m. 12,155m of this total was drilled in Q2 with the remaining 17,834m drilled in Q3. The majority of assay results for drilling at
Chisawa, Kalulu and Imboo are still pending. Results have been received for one diamond hole of eighteen for the Kangaluwi Prospect with the
remainder still pending. These diamond holes test the deeper extents of zones identified by RC drilling at the Kangaluwi Prospect in 2006,
2007 and 2008.

    A 2004 JORC compliant resource estimate for the Chisawa and Kangaluwi Prospects is expected in Q4 2008.

    Mineralisation at Kangaluwi Prospect consists of chalcopyrite, bornite, malachite and azurite with chalcopyrite being the dominant ore
mineral in fresh rock at depth. The host rocks consist of sheared and brecciated metasediments and metavolcanics. Mineralisation dips
moderately to the south west at approximately 30-40o and occurs within the sheared northern limb of an overturned ESE- plunging regional
synformal fold. Mineralised zones average approximately 10m in thickness, with some broader zones of up to 32m in thickness. Drilling also
suggests the potential for multiple mineralised zones which broaden at depth. A total strike extent of 4.0 km has now been tested by
drilling. The prospect still remains open along strike and at depth.

    Preliminary metallurgical testwork on composite 2007 drill core from Kangaluwi has indicated favourable metallurgical characteristics.
The ore is relatively soft with a Bond Mill Work Index of 11.5 kWhr/t, and a Rodmill Work Index of 8.9 kWhr/t. This is based on a single
composite test. The first rougher flotation test showed recoveries in excess of 95% copper and silver which are the only metals expected to
be of economic value for the Kangaluwi Project. Samples have been collected and dispatched for more comprehensive metallurgical testwork
during Q3 with results expected in Q1 2009.  

    At the Chisawa and Kalulu Prospects, broad, consistent zones of malachite, azurite, chalcocite, chalcopyrite and bornite mineralisation
have been intersected to depths of 150m in widths exceeding 10m and 6m respectively.. Results for the quarter are tabulated in table 3.
Broader mineralised zones were intersected at Chisawa with widths of up to 32m. Zoning exists with bornite and chalcopyrite becoming
dominant at depth. Rare sphalerite occurs as inclusions in copper sulphides in fresh rock. Mineralisation is hosted predominantly in
garnetiferous quartz - muscovite - biotite schist and surficially in felsic pegmatitic intrusives concordant with stratigraphy. The overall
strike tested in Q3 is 4.1km at Chisawa and 1.3km at Kalulu with mineralisation remaining open along strike and at depth at both prospects.
Results are still pending but visual estimations show continuity and strong tenure of mineralisation along the entirety of the 4.1km of
strike drilled at Chisawa. At the new Imboo Prospect 0.7km of strike was tested revealing zones in excess of 4m in width containing disseminated copper mineralisation in the form of chalcopyrite and
bornite at depth with malachite near surface. Host lithology at Imboo is an altered amphibolitic gabbro. Results are pending.

    Table : Chisawa Prospect RC Drill Hole Assay Results Q3
 Drillhole    Coordinates    Collar  Dip  Azi    Total    From  To   Interval   Cu
                             Elevn.              Depth    (m)   (m)   Width     %
                                                  (m)                  (m)
              E        N
 CHSRC0024  788775  8286590     679  -50   37        187   122  134        12  1.36
 CHSRC0026  788780  8286874     676  -50  79.5       120    22   35        13  0.73
 CHSRC0027  788580  8286837     694  -50  79.5       220   178  192        14  0.88
 CHSRC0028  788640  8287054     667  -50  79.5       114    85   99        14  1.52
 CHSRC0030  787693  8287989     698  -50  36.5       150    48   66        18   1.3
 CHSRC0034  788592  8287191     676  -50   37        120    76   81         5  1.43
 CHSRC0036  788533  8287109     675  -50   37        155   128  133         5  1.19

    Table : Kangaluwi Copper Project - RC and Diamond Drill Hole Assay Results Q3
 Drillhole    Coordinates    Collar  Dip   Azi    Total    From  To   Interval   Cu
                             Elevn.               Depth    (m)   (m)   Width     %
                                                   (m)                  (m)
              E        N
 KNGRC0120  786387  8290274   673    -50  354.5    160     128   131     3      1.12
 KNGRC0132  786485  8290316   684    -50  354.5    171      65   71      6      0.55
 KNGRC0134  786484  8290271   683    -50  354.5    123     104   111     7      0.86
 KNGRC0139  787440  8289996   705    -50  354.5    120     115   117     2      2.86
 KNGRC0142  787590  8289858   724    -50  354.5    186     141   143     2      1.73
                                                           148   150     2      1.69
 KNGRC0145  787541  8289946   719    -50  354.5    141      95   99      4      1.15
 KNGRC0146  787643  8289897   736    -50  354.5    150     118   125     7      0.95
 KNGRC0148  787691  8289916   747    -50  354.5    150      96   102     6      1.39
 KNGRC0149  787537  8290043   720    -50  354.5    100      37   46      9      1.79
 KNGRC0150  787641  8289820   727    -50  354.5    183     158   169     11     0.9
                                                           176   183     7      0.5
 KNGRC0151  787539  8289995   719    -50  354.5    120      66   69      3      2.58
 KNGRC0152  787689  8289870   740    -50  354.5    183     125   130     5      1.35
                                                           134   138     4      2.66
 KNGRC0154  787740  8289902   750    -50  354.5    170      90   96      6      0.71
 KNGRC0155  787591  8289939   728    -50  354.5    150      98   102     4      1.76
                                                           105   108     3      1.31
                                                           127   129     2      1.67
 KNGRC0156  787692  8289772   719    -50  354.5    250     160   171     11     2.73
 KNGRC0161  787792  8289734   717    -50  354.5    200     159   168     9      0.45
                                                           173   177     4      1.03
    Coordinate system Arc50 UTM Zone 35S. Mineralised intervals calculated on basis of lower cutoff of 0.3% Cu, minimum mineralised interval
of 0.5m, maximum consecutive internal waste of 2m. All intervals reported here based on aqua regia digest, ICP-OES analysis. Mineralised
intervals >3m% copper reported here. Mineralisation dipping to south at approx 35 degrees. Mineralised widths reported on downhole basis,
true width approximately downhole width x 0.98. Azimuths reported on magnetic grid, UTM grid north = 354.5 degrees magnetic. KNGRC prefix
denotes RC drillholes, KNGDD prefix denotes diamond drillholes. * denotes reported subsequent to the Quarter.

    GOLD PROJECTS

    No work was carried on the Company's gold projects during the quarter.

    URANIUM PROJECTS

    Zambezi has two uranium joint ventures, one with Lithic Metals and Energy and the other with Rio Tinto PLC. In both joint ventures, the
parties are earning an interest in the project and Zambezi is free carried for the first stage of the joint venture.

    Interpretation of the extensive high resolution helimagnetic and radiometric surveys in conjunction with joint venture partners Lithic
Metals and Energy Limited ("Lithic") over Mulungushi, Mpande and Chumbwe licenses has identified high priority radiometric targets. These
surveys were designed to extend high resolution geophysical coverage into these uranium project areas, and provide vital information on the
structural, lithostratigraphic and radiometric framework of the projects. Lithic are the JV managers of this exploration work.

    On the Mpande License (PL220), Lithic have been following up the 41 anomalies of which 18 anomalies were deemed high priority. Over two
thirds of these 41 anomalies have mapped and sampled by field geologist teams. 

    Results reported on the 18th October for drilling conducted in the quarter included Assays for diamond drill hole MVUDD003 completed at
the Mvula East uranium prospect, have revealed several zones of elevated uranium values up to 826ppm U3O8. Broader zones encountered
included 6.04m @ 142.24ppm U3O8 from 187m (including 42cm @ 826ppm U3O8) and 7m @ 137ppm U3O8 from 206.24m (including 60cm @ 734ppm U3O8).
Uranium mineralisation was generally intersected in metamorphosed dolomite units interfingered with biotite schists.  Mvula East is a 6
kilometre-long uranium radiometric anomaly with surface rock chips to 736ppm U3O8. A scout programme of 8 broadly-spaced drill holes along
the central 3 kilometres of the anomaly for a total of 1532.4 metres of drilling was completed in August of this year to assess the general
distribution and tenor of uranium mineralization at depth.

    On the Chumbwe License (PL 227) where the Oryx project is located, results for the trenching (9,051m) completed in the June quarter
identified narrow zones of uranium mineralisation. The channel rock samples returned bedrock uranium values that included 3m @ 642ppm U3O8
and 1m @ 839ppm U3O8. Better trenching uranium values were often associated with the presence of aplite and visible davidite, an
iron-titanium uranium mineral. 

    Uranium values from three adjacent trenches 
    Trench 23:     3m @ 642 parts per million (ppm) U3O8 
    Trench 25:     3m @ 292 ppm U3O8
    Trench 34:     1m @ 839 ppm U3O8 
    1m @ 272 ppm U3O8

    In the June quarter a total of 1030.64 metres of drilling, over 11 broadly-spaced holes were completed at Oryx, testing a 2
kilometer-long section of an existing uranium radiometric anomaly located beneath anomalous uranium zones identified in trench sampling. 
    This initial drilling programme intersected uranium at depth under trench mineralisation, although broad zones were not identified. Best
values were restricted to narrow areas typified by hydrothermal alteration and/or structural disruption. 
    Best results included: 

    ORXDD005:     0.79m @ 463ppm U3O8 
    ORXDD007:     0.36m @ 425ppm U3O8 
    ORXDD010:     0.35m @ 227ppm U3O8 

    Results demonstrate that although narrow zones of uranium are present in the down-dip projection of lithological units associated with
better uranium values observed in trenching, uranium mineralisation at Oryx does not appear to be controlled by lithology, and more likely
reflects a structurally-controlled depositional environment.

    Due to the broad nature of this initial scout drilling programme, much of the Oryx uranium anomaly remains completely untested by
drilling, and in particular, drilling has not tested for steeply dipping structural controls to uranium mineralisation. 

    Lithic is now undertaking detailed test pitting to greater depths in trenching where zones of visible davidite and higher uranium values
were encountered to gain a better understanding of possible structural controls to uranium mineralisation. Further exploration activities
will be planned based on the outcome of this current programme of work. 

    On the Mulungushi License (PL 224), initial targets have been identified and Lithic Metals and Energy field teams have assessed the
majority of targets. Further interpretation is necessary and results from sampling are pending.

    During Q2, the Uranium Mineral Rights joint venture with Rio Tinto at the Mulofwe project announced the identification of several
electromagnetic conductors within a regional shear zone interpreted to form part of the continent-scale Mwembeshi Shear system, following
the completion of a major VTEM survey The shear zone is evident in electromagnetic and radiometric data over a strike length in excess of
30km, and continues beyond the survey boundary to the east and west. Preliminary interpretation suggests that the conductors are associated
with the position of a regionally extensive graphitic shale unit. 

    Previous radiometric surveys carried out by Zambezi have highlighted uranium anomalism believed to be associated with this unit.
Geophysical modelling has been carried out on the eastern-most conductor within the shear zone. The modelling suggests the presence of a
conductor of approximately 2km strike length dipping about 60o to the north and plunging gently to the east. The joint venture plans to
conduct follow up work to investigate the potential for an association between the conductive graphitic shales, the uranium radiometric
anomalism and potential uranium mineralisation. This work was commenced in Q3 2008 under the management of Rio Tinto as joint venture
operators, and comprised trenching, geological mapping, PIMA surveying. In order to maximise the chances of success for the project, the
joint venture partners have agreed to extend the area of the joint venture to cover the entirety of the prospective stratigraphy. This will
be under the same terms of the existing Uranium Mineral Rights agreement. 

    In Q3 2008, detailed lithological and structural mapping of the three trenches previously constructed by Zambezi Resources was carried
out by Rio Tinto, confirming the presence of graphitic schist and also a carbonaceous phyllite. These units appear related to the uranium
anomalism in the trench system and also a possible increase in deformation intensity.

    Wholerock geochemical analyses confirmed the position and magnitude of the uranium anomaly, and SEM analyses of selected mineralogical
samples from the trenches highlighted the presence of sub-dravitic tourmalines, some of which were found to contain very fine U-silicate
inclusions. Full spectral analyses of the samples from the trenches defined a ~30m wide zone of chlorite-kaolinite-halloysite alteration
adjacent to the area of elevated uranium assays, though the pattern was complicated somewhat by changes in lithology and the heavy
weathering of the samples.

    A small number of targets were selected for drill testing, focusing on the N-dipping conductor; unfortunately it was not possible to
complete this phase of drilling this quarter.



    Competent Person Statement

    The information in this report that relates to Exploration Results is based on information compiled by General Manager Exploration Jay
Klopper BSc (Hons). Mr Klopper is a full-time employee of Zambezi Resources, and a Member of the Australian Institute of Geoscientists. Mr
Klopper is a Competent Person as defined in the December 2004 Edition of the "Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves" (the JORC Code) and consents to the inclusion in the report of the matters based on the information in
the form and context in which it appears. 

    The information in this report that relates to Resource Calculations is based on information compiled by Country Manager Mr Paul Weedon 
BAppSc (Geol), PGDipEconGeol, GradDipApp Fin, GDipManagement. Mr Weedon is a full-time employee of Zambezi Resources, and a Member of the
Australasian Institute of Mining and Metallurgy. Mr Weedon is a Competent Person as defined in the December 2004 Edition of the
"Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code) and consents to the inclusion
in the report of the matters based on the information in the form and context in which it appears. 

    The information in this report that relates to the interpretation of geophysical survey data is based on information compiled by Mr Bill
Peters BSc (Hons), who is a Director and Senior Consulting Geophysicist of Southern Geoscience Consultants. Mr Peters is a Member of the
Australian Institute of Geoscientists, and a Fellow of the Australasian Institute of Mining and Metallurgy, and is a Competent Person as
defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Peters consents to the
inclusion in the report of the matters based on the information in the form and context in which it appears.

    Downloads of the announcement with figures are available on the Zambezi website www.zambeziresources.com 

    For more information contact:   
 Julian Ford, Managing Director      Simon Edwards / Adam Lloyd 
 Zambezi Resources (Australia)       Evolution Securities Ltd
 +61 (08) 9216 9000                  + 44 20 7071 4300
 +61 (0) 418 949 580

 Fiona Owen 
 Grant Thornton UK LLP
 +44 20 7383 5100




This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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