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Globe Metals and Mining Limited (ASX:GBE) September 2011 Quarterly Activities Report


- Kanyika Niobium Project

          Preparation of an Environmental Impact and Social Assessment (EISA) study underway – due for submission in Q1 2012

          Intensive optimisation program continues as part of Definitive Feasibility Study (DFS) focused on design of processing flow sheet, enhancing recoveries and reducing costs

- Mount Muambe REE – Fluorite Project

          40 RC drill holes completed, totalling 3,464m; results from initial 8 holes show wide, high-grade, near surface fluorite zones:
MURC020: 21m @ 26.7% fluorite
Inc: 9m @ 41.1% fluorite
MURC021: 30m @ 28.4% fluorite
Inc: 15m @ 38.0% fluorite

          Substantial REE mineralisation associated with high-grade fluorite including:
MURC021: 44m @ 1.0% TREO
Inc: 10m @ 2.0% TREO

          HREO/TREO ratios between 10% - 40%; high-grades of dysprosium including 235ppm Dy2O3 over 10m
          Further results from fluorite-rare earth element (REE) zones and other pure REE targets will flow over next four months

- Salambidwe REE Project

          Commencement of 2011 exploration program targeting potential extensions of REE and Nb mineralisation encountered in 2010 rock-chip and soil sampling program

          Crater-wide 284 soil-pit and 38 auger sample program, to be conducted in conjunction with rock-chip sampling, ground radiometric surveying and regional geological mapping

- Cash at end of quarter of $42m

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