VANCOUVER, British Columbia, Aug. 8, 2012 /PRNewswire/ -- Silver Bull Resources, Inc. (TSX: SVB, NYSE MKT: SVBL) ("Silver Bull") is pleased to announce the renewal of its 2,000 square kilometer Ndjole license by the Ministry of Mines in Gabon for an additional 3 years. Silver Bull is also pleased to provide the results of the work program on the Ndjole license completed over the last 2 years.
License Renewal: Silver Bull is pleased to confirm it has received confirmation from the Ministry of Mines in Gabon that it has renewed the Ndjole exploration license for an additional 3 years. The Ndjole license lies 120km east of the capital city of Libreville and is accessed via a paved road directly to site. Until recently the license was part of the Ndjole-Mevang Joint Venture Agreement with AngloGold Ashanti ("AngloGold"), under which AngloGold spent over US $5.7M on exploration, assessing the gold potential in the Ndjole area. With the termination of the joint venture announced on August 3, 2012, 100% of the Ndjole license has been returned to Silver Bull.
Ndjole License - Manganese Results: A work program was completed over the last 2 years on the Ndjole license which included 5,300 meters of diamond drilling, a 3,660 line kilometer airborne electro-magnetic survey, 1:20K geological mapping and basin analysis for the Ndjole area, and 20,000 soil samples which identified a very significant manganese soil anomaly >500ppm Mn over 50 square kilometers in area. Three drill holes at the very northern end of the manganese anomaly intersected thick, near surface manganese mineralization. Highlights from the manganese drilling include:
- NDDD0002: 22% Mn over 34.5m from 0m; including 42% over 5m or 33.7% over 9m from surface.
- NDDD0001: +11% Mn over 17m from 33m (detection limit for manganese for analysis is 11% - not analyzed for ore grade manganese)
- NDDD0018: +11% Mn over 7m from 20m (detection limit for manganese for analysis is 11% - not analyzed for ore grade manganese)