Baobab Resources plc (LON:BAO) Completes South Zone Drilling Program and Expands Drilling Fleet In Transit To Mozambique
London, June 13, 2011 AEST (ABN Newswire) - Baobab Resources plc (
LON:BAO), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, is pleased to present an update on the exploration activities currently underway at its Tete and Muande projects.
Summary:
- The South Zone iron/vanadium/titanium prospect resource drilling programme has been completed with consultants, Coffey Mining Pty Ltd, currently working on a resource estimate.
- The drilling fleet has been expanded to four reverse circulation (RC) rigs and two diamond rigs with an additional RC rig and three further diamond rigs in transit to Mozambique.
Most rigs are being deployed at the Company's Tete and Muande projects:
- At Tete, two RC rigs have commenced drilling the extensions to the Chitongue Grande resource and two RC rigs and a diamond rig have commenced drilling the Tenge-Ruoni prospect.
- Diamond drilling has commenced at the Monte Muande magnetite/phosphate deposit. A sampling programme has also been established to assess the direct shipping ore (DSO) potential of the eluvial material.
- Drilling is also due to commence at Mundonguara, testing both copper, nickel and gold targets.
Mr Ben James, Baobab's Managing Director, said: "Baobab is gearing up for a highly productive second half to 2011. With 10 rigs in operation, the company will be amongst the busiest explorers in the region. As results come to hand we should expect a strong flow of news, including resource statements, through Q3 and Q4 leading to the commencement of a Pre-Feasibility Study at Tete in Q4."
The information in this release that relates to Exploration Results is based on information compiled by Managing Director Ben James (BSc). Mr James is a Member of the Australasian Institute of Mining and Metallurgy, is a Competent Person as defined in the Australasian Code for Reporting of exploration results and Mineral Resources and Ore Reserves, and consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
A COPY OF THIS ANNOUNCEMENT IS AVAILABLE FOR DOWNLOAD FROM THE COMPANY'S WEBSITE www.baobabresources.com
About Baobab Resources plc
Baobab Resources plc (LON:BAO) is a Mozambican-focused explorer with a large landholding in the central north of the country. The company's flagship project is the Tete iron ore deposit.
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