El Nino falls on results from new DRC project

摘要

The first full set of drill results from El Nino Ventures' (ELN-V, ELNOF-O) Kasala copper discovery in the Democratic Republic of the Congo (DRC) left investors unimpressed: El Nino's share price fell almost 50 percent on the news. El Nino picked up a 70 percent interest in a 350-sq.-km land package in the DRC's copper belt in mid-2007. In October 2008, drills hit the first significant intercept from the new project: hole 23 returned 29 metres grading 2.82 percent copper and 0.34 percent cobalt starting 17 metres down-hole, within an 80-metre interval averaging 1.42 percent copper and 0.13 percent cobalt.