Mumbwa Drilling Results

RNS Number : 7741J
AIM Resources Limited
09 December 2008

AIM RESOURCES LIMITED

9 DECEMBER 2008

Mumbwa Drilling results

AIM Resources Limited ("the Company" or "AIM Resources") (ASX: AIM, AIM: AIMR) is pleased to provide assay results received from holes
S36-018 and S36-011, drilled as part of the Mumbwa Phase 3 drilling program in Zambia.
KEY POINTS
S36-018
* Sporadic intervals of gold ("Au") mineralisation identified, together with zones of copper ("Cu") mineralisation.
* Gold mineralisation identified over 8 metres @ 0.34 g/t Au between 90 and 98 metres.
* Copper mineralised zones identified include the following drilled thicknesses:
* 21 metres @ 0.95 % Cu between 135 and 156 metres;
* 7 metres @ 0.65 % Cu between 201 and 208 metres.
* Sampling of drillhole S36-018 was conducted over two zones, between 84 metres and 156 metres; and between 198 metres and 326
metres. Additional sampling is proposed to extend the sampled zones between 55 and 80 metres; and between 156 and 198 metres.
* Drillhole S36-018 was terminated at 332 metres depth, short of the 400 metres target depth, due to deteriorating hole conditions.
S36-011
* Copper and gold assays returned below the cut off, however further examination of drill core has proposed additional sampling of
the intervals between 7 and 44 meters; 80 and 88 metres; and 116 and 162 metres.
* Drillhole S36-011 was terminated at 515 metres depth, short of the 700 metres target depth, due to drilling difficulties.
The Mumbwa Joint Venture ("JV") Project is being explored with 50:50 partner, BHP Billiton, for Iron Oxide Copper-Gold ("IOCG") style
mineralisation. Phase 3 drilling commenced in early 2008, and involved drilling 18 cored holes for a total of 8,000m, being fully funded by
AIM Resources.
S36-018
Hole S36-018 yielded encouraging results, which are in line with previous results reported from this Phase of drilling. Results from the
first seven holes previously reported by the Company, have all intersected a minimum 10 metre interval of copper, above the 0.25 % Cu cut
off grade.
Drillhole S36-018 has intersected a 21 metre interval (at 0.95 % Cu) between 135 metres and 156 metres, which provides additional
support and confidence in delineating IOCG style mineralisation at Mumbwa. Examination of this interval has identified that positive copper
assays were from samples taken at the base of the sampled zone, where sampling was terminated. Further sampling of this hole is proposed.
Additional samples of drill core will be taken from between 156 metres and 198 metres depth to determine the full extent of this
mineralised intersection. This 21 metre intersection therefore only provides a minimum drilled interval. The extent of this intersection
can only be fully evaluated upon return of additional sampling results.
Interpreted drill intersections for hole S36-018 are presented below.
These reported intersections represent drilled thickness and are calculated based on "cut off" grades of 0.25% copper (Cu) and 0.25g/t
gold (Au). True width intersections were not quoted in these results as additional interpretation is required to correllate data from
adjacent drill holes.
Results for drillhole S36-018
* 2 metres @ 0.49 % Cu between 84 and 86 metres.
* 8 metres @ 0.34 g/t Au between 90 and 98 metres,
* Including 2 metres @ 0.41 % Cu between 90 and 92 metres. *
* 1 metres @ 0.29 % Cu between 101 and 102 metres.
* 3 metres @ 0.27 % Cu between 105 and 108 metres.
* 1 metre @ 0.27 g/t Au between 119 and 120 metres.
* 1 metre @ 0.76 % Cu between 124 and 125 metres.
* 2 metres @ 0.40 % Cu between 129 and 131 metres.
* 21 metres @ 0.95 % Cu between 135 and 156 metres,
* Including 8 metres @ 0.95 % Cu between 135 and 143 metres,
* and 6 metres @ 1.62 % Cu between 150 and 156 metres.
* Including 2 metres @ 0.27 g/t Au between 137 and 139 metres, *
* and 1 metre @ 0.30 g/t Au between 141 and 142 metres, *
* and 1 metre @ 0.26 g/t Au between 146 and 147 metres, *
* and 1 metre @ 0.49 g/t Au between 155 and 156 metres. *
* 1 metre @ 0.83 g/t Au between 198 and 199 metres.
* 7 metres @ 0.65 % Cu between 201 and 208 metres.
* 3 metres @ 0.41 % Cu between 213 and 216 metres.
* 1 metre @ 0.31 % Cu between 225 and 226 metres.
* 3 metres @ 0.50 % Cu between 272 and 275 metres.
* 4 metres @ 0.31 % Cu between 293 and 297 metres.
* 1 metre @ 0.48 % Cu and 0.27 g/t Au between 324 and 325 metres. *

* Denotes co-incident Au and Cu assay results above the cut off.
Drillhole S36-018 is located on the western side of the target area, and situated approximately 200 metres southeast from hole S36-001,
drilled and reported in 2007 as part of the Phase 2 program.
S36-018 was core drilled at an angle of 70 degrees towards the east (090 degrees), for an end of hole depth totalling 332 meters. It
was proposed to drill to 400 metres depth, however due to deteriorating hole conditions, this hole was abandoned to avoid the risk of losing
drilling equipment. A total of 216 samples of drill core and quality control samples were submitted for preparation and analysis by AH
Knight Group.
Diagrams and Table of Results from hole S36-018 are available on www.aimresources.com.au, which provides a drill hole location plan,
cross section and details of all sample intervals for hole S36-018.
S36-011
Logging of drillhole S36-011 did not initially identify any mineralised zones, however the drill core and sampled intervals are being
further examined, and some additional sampling is also planned. Proposed further sampling includes the intervals between 7 and 44 meters; 80
and 88 metres; and 116 and 162 metres drill depth.

An internal workshop held by senior geologist, Nicholas Hayward from BHP Billiton, reviewed the previously drilled core in light of
recent results from the Phase 3 program. The objective of workshop was to constrain the general geology in terms of rock associations,
structure, alteration, mineralisation, ore controls and resource potential. This consultation has provided useful insight for the
exploration group, with reference to characteristics from other global IOCG systems. Some recommendations for improving data capture were
provided and a review of previously sampled holes will be conducted for further sampling.

Drillhole S36-011 is also located on the western side of the target area, and situated approximately 200 metres southeast from hole
S36-018, and approximately 400 metres southeast from hole S36-001 (drilled and reported in 2007 Phase 2 program).
S36-011 was core drilled at an angle of 70 degrees towards the east (090 degrees), for an end of hole depth totalling 515 meters. It
was planned to drill to 700 metres depth, however during the drilling process, adverse drilling conditions were experienced and the hole was
abandoned to avoid the risk of losing drilling equipment. A total of 216 samples of drill core and quality control samples were submitted
for preparation and analysis by AH Knight Group.
Diagrams and Table of Results from hole S36-011 are available on www.aimresources.com.au, which provides a drill hole location plan and
details of all sample intervals for hole S36-011.

Independent Geologist Report
As announced previously, AIM Resources have commissioned an independent geologist, from BK Associates, to review the results received
from the first seven holes of the Phase 3 drilling, and provide comments on the characteristics observed at Mumbwa in comparison to classic
IOCG models. The Company is awaiting the completion of this report.

Health, Safety, Environment & Community ("HSEC")
In November, an accident occurred on site at the Mumbwa JV Project which involved an employee of the drilling contractor.
As a result of the accident, all site activities have been suspended pending a safety inspection by the BHP Billiton HSEC team. There
remains some site work to be completed as part of the Phase 3 program, being managed by AIM Resources, and it is expected that logging and
sampling activites will re-commence in mid December 2008. It is proposed that additional drilling, being managed by BHP Billiton as part of
Phase 3A, will remain suspended and resume in early 2009.

ATTRIBUTION The information in this report which relates to Exploration
Results at the Mumbwa JV Project has been reviewed and approved
for release by Mr Michael J Robertson, MSc, Pr.Sci.Nat., MSAIMM
who has 20 years experience in mineral exploration, and who is a
full-time employee of MSA Geoservices, and has sufficient
experience in relation to the style of mineralisation and type
of deposit under consideration to qualify as a Competent Person
as defined by the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves" (The
JORC Code 2004 Edition) and as a Qualified Person under the AIM
Rules. Mr Robertson has consented to inclusion of this
information in the form and context in which it appears.

Note:
Gold and copper assays are performed by ISO/17025 accredited Alaska Assay Laboratories (a Member of the Alfred H. Knight Group) in
Alaska, using hot aqua regia atomic absorption spectroscopic (AAS) analyses for copper and conventional fire assay procedures with AAS
finish on 30g aliquots for gold. Multi-element inductively coupled plasma mass spectroscopic (ICP-MS) analyses are currently subcontracted
to ACME Analytical Laboratories Ltd in Vancouver.
A Quality Assurance/Quality Control (QA/QC) program forms part of the drilling, sampling and assay program on the Mumbwa Project. This
program includes chain of custody protocol as well as systematic submittal of certified reference materials, duplicates and blank samples
into the flow of samples produced by the drilling.

Should you require further information please contact:

Scott Lowe
Managing Director
Ph: + 61 2 9357 9000

Fiona Owen
Grant Thornton UK LLP
Ph: +44 20 7383 5100

www.aimresources.com.au

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

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