KZL 0.00% 12.0¢ kagara ltd

Another fantastic drill result !

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    When many companies are drilling hoping to hit something worthwhile, Kagara finds even more minerals than they expected nearly every time they drill a hole.

    KAGARA ZINC LIMITED 2002-08-12 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Kagara is pleased to announce an update of drilling currently
    underway at the Surveyor and Dry River South deposits.

    SURVEYOR

    Drilling at Surveyor has been confined to the extremities of the
    deposit to define final pit boundaries prior to commencement of
    mining activities. SD127 was drilled into the southern end of
    Surveyor in an area previously interpreted to be narrow (2m @ 17%
    zinc) which limited the depth of the open pit. DS127 is located at
    6985N, 1295E and returned a significant result of 13.6m @ 32.2% Zn,
    11.7% Pb, 0.7% Cu, 234 g/t Ag and 1.2 g/t Au.

    DRY RIVER SOUTH

    Drilling at Dry River South has intersected strong mineralisation in
    the six holes drilled to date. The aim of the program is to define
    the limits of the high grade central portion of the deposit.

    The current programme of eight holes will be completed within two
    weeks at which stage a new resource will be calculated prior to final
    mine design. Kagara has results for only two holes of the six holes
    drilled however it is expected that the overall grade will increase
    above the current resource grade of 11.9% zinc.

    Results to date confirm Kagara's view that the Dry River South
    deposit may be as important as Surveyor in terms of economic value.

    This drilling also increases the likelihood that Dry River South may
    be the next deposit mined after the Surveyor open pit.


    J Treacy
    TECHNICAL DIRECTOR

    KZL currently has the brighest future of any Australian miner in my opinion.

    Dave R.
 
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