Baobab Resources Plc, the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, today announced positive results from exploration of the Singore East prospect at its Tete magnetite-ilmenite project.
The Tete Project, covering an area of 632km2, is located immediately north of the provincial capital of Tete and shares licence boundaries with Vale and Riversdale's mega coal projects. The project is strategically located to access abundant, low tariff hydro-electric power from existing and developing schemes on the Zambezi River. The ports of Beira and Nacala are being refurbished, as are the rail corridors through to Tete.
The project contains two areas of magnetite-ilmenite mineralisation; the Singore area to the south and the Massamba Group in the north. The Company commenced exploration initiatives in mid 2008 and has focused the bulk of its efforts to date on the Massamba Group area, a cluster of five prospects including Chitongue Grande and Pequeno, Caangua, Chimbala and South Zone.
The Singore East prospect is located 12km to the southeast of the Massamba Group area where the Company announced a 47.7Mt magnetite-ilmenite Inferred Resource and a 400 to 700Mt Exploration Target in 2009.
The Company indicated that reconnaissance mapping outlined linear zones of magnetite-ilmenite mineralisation up to 50m wide over strike lengths of up to 850m. Rock chip sampling had returned positive results, with vanadium concentrate values are consistently >25% higher than those reported from the Massamba Group area.
Commenting today, Ben James, Baobab's Managing Director, said:
"The outcome of the reconnaissance work at Singore East is particularly exciting as it has opened up highly prospective, virgin exploration ground close to our area of core activity. While the Massamba Group remains the focus of the 2010 drilling campaign, Baobab's technical team will be rapidly developing the knowledge base at Singore with the view to targeting scout drill holes as soon as practicable."
