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Globe Metals and Mining Limited (ASX: GBE) Update Mount Muambe REE - Fluorite Project, Mozambique

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

 
-
40 RC drill holes completed, totalling 3,464m 

- Main Fluorite (+REE) Zone drilling nearing completion 

- Rig to move to regional targets with substantial REE soil anomalies including:

                - 560m width, 29 samples averaging 1.01%, peak 2.05% TREO
 

              - 320m width,17 samples averaging 1.12%, peak 2.32% TREO with a high HREO ratio of 10.9% 

- Drilling has encountered intercepts of up to 40m of visual fluorite mineralisation

- Main Fluorite (+REE) Zone results expected late September

- Regional infill soil sampling to commence

                 

A total of 3,464m of RC extensional and infill drilling has been completed across 40 holes on the Main Fluorite (+REE) Zone. Drilling results for the first 8 holes are expected in mid-late August, with remaining results due at the end of September.

 

The drill rig is now moving south to finalise extensional drilling in Zone FF (Figure 1).

 

Drill pad preparation for the regional REE targets is also nearing completion, with Zone EE targeted first. A program of 460 soil samples has been initiated on the western margin of the crater and will cover the area between the Main Fluorite Zone and Zone DD.

 

Intercepts to date show 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.

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