Update: Mount Muambe REE – Fluorite Project, Mozambique
Globe Metals & Mining (“Globe” or “the Company”; ASX: GBE) is pleased to provide an update on its drilling activities at the Company’s Mount Muambe REE – Fluorite Project, Mozambique.
Highlights:
- 25 RC drill holes completed of 2011 campaign, totalling 2,182m Drilling to date has intersected widths of up to 40m of visual fluorite mineralisation
- Results from the first 8 holes expected in mid – late August
- Initial 5,000m RC drilling targeting Main Fluorite (+REE) Zone on track for completion this month. Historical results include:
MURC001 8m @ 1.23% TREO, 10.9% HREO/TREO ratio with 102ppm Dy2O3 (from 74m)
MURC001 15m @ 43.6% fluorite (from surface) Inc. 10m @ 52.9% fluorite (from 4m)
- Preparation of drill pads underway for 5,000m RC drilling targeting recently identified REE zones
A total of 2,182m of RC extensional and infill drilling in 25 holes on the Main Fluorite (+REE) Zone has been completed to date. Further extensional drilling is continuing, with the entire 6,000m program on track for completion in early August. Results for the first eight holes are expected by late August.
The aim of the first phase program is to confirm and extend multiple areas of high grade fluorite and associated rare earth mineralisation (Figure 1) identified in the 2010 drilling program.
Fluorite mineralisation intersected in the 2011 program to date shows generally thicker packages of fenite and associated fluorite mineralisation on the western margin of the Main Fluorite (+REE) Zone. The 2011 drilling has encountered intercepts of up to 40m of visual fluorite mineralisation.
Clearing of drill pads designed to test at least three REE targets outside of the Main Fluorite Zone with a further 5,000m of RC drilling have also begun.
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