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African-focused resource company Globe Metals & Mining (ASX: GBE) has announced further high-grade results from the second batch of 2009 infill drilling results at its Kanyika Niobium Project in Malawi.
The infill RC drilling program was designed solely to upgrade the resource category of selected areas of the deposit to the JORC Measured and Indicated categories.
The company received very high grade, near surface mineralisation intersected in multiple drillholes, including KARC170 16m @ 11,725ppm Nb2O5, 871ppm Ta2O5, 467ppm U3O8 (from 0m), incl. 3m @ 27,974ppm Nb2O5, 2,225ppm Ta2O5, 1,127ppm U3O8 (from 10m) KARC176 29m @ 9,717ppm Nb2O5, 447ppm Ta2O5, 336ppm U3O8 (from 5m), incl. 13m @ 14,766ppm Nb2O5, 730ppm Ta2O5, 523ppm U3O8 (from 19m).
The upgraded resource estimate is due toward the end of Q1 2010. This will feed directly in to the pit optimisation, mine design and scheduling components of the Bankable Feasibility Study (BFS).
Additional infill drilling results expected shortly.
Globe Executive Chairman Mark Sumich said the company had always been very comfortable with the geological and resource model.
"These additional infill drilling results continue to confirm the overall robustness of the resource, and the significant high grade areas of mineralisation at or near surface," Mr Sumich said.
"The significance of these high-grade mineralised zones is that they are likely to mined first, to enhance Project economics. The grades reported in this market release are markedly superior to the overall resource grade.
"The upgraded JORC resource to be released in Q1 2010 will be a key component of the BFS, and a significant milestone."
All twenty four RC drill holes reported in this market release intersected significant mineralisation at relatively shallow depths in the northern Milenje Zone. The extremely robust nature of the deposit continues to be confirmed in these RC infill drill results, which show excellent consistency of geology and high-grade mineralised zones. In addition, wider, moderate grade zones continue to be intersected at deeper levels in the northern Milenje Zone.
The existing total JORC inferred and indicated resource is currently 55.1Mt @ 3,000ppm Nb2O5, which includes 24Mt @ 3,800ppm Nb2O5.
Globe's main focus is the multicommodity (niobium uranium tantalum and zircon) Kanyika Niobium Project in central Malawi. A Bankable Feasibility Study was commissioned in August 2009, and production is planned to commence in 2012 at a rate of 3000tpa niobium metal, principally in the form of ferro-niobium. Mine life will be in excess of 20 years.