Project and Investment Highlights
- Project highly prospective for high-grade heavy rare earth oxides (HREOs) and Nb-Ta-Zr.
- Machinga North drilling highlights to date include:
MARC005: 11m @ 1.0% total rare earth oxide (TREO) with 330ppm Dy2O3 (from 12m) Inc.: 4m @ 1.4% TREO with 492ppm Dy2O3 (from 19m)
MARC015: 5m @ 1.5% TREO with 596ppm Dy2O3 (from 26m) Inc.: 1m @ 2.5% TREO with 971ppm Dy2O3 (from 27m).
- Very high ratio of HREO:TREO, peak 39%, average 32%.
- 7km radiometric anomaly registering a 2.7 by 0.3km main target zone.
- Machinga North is just one of seven targets within the EPL; enormous potential to confirm a significant economic REE deposit.
- Southern Malawi is a proven region for hosting economic REE deposits.
- Dysprosium a highly sought after metal – price rise of 5x in 2011!
- 5,000m drilling program planned for 2011
- Major auger and soil-pit sampling program over the Lingoni and Machinga Central/South targets
- Exploration budget of $500,000 for 2011
- Strong cash position will enable the Company to realise the Project’s potential – $45m @ May 2011
- Project located along the major Lilongwe – Zomba highway
- Technical and administrative team based in Malawi
- Globe can earn up to 80% of project; 20% currently held
A full copy of Investor Update Machinga REE Project - Malawi asx announcement is attached.
