Base Resources - Commencement of Exploration on Granting of Tenure
Base Resources (ASX:BSE) announced that it will commence an 18,000m aircore program in the September quarter following the granting of new tenure surrounding the Kwale mineral sands mine in Kenya. Exploration will be focussed on defining resources that can extend the life of Kwale beyond the current 9 years.
Base Resources Limited (ASX & AIM: BSE) (“Base Resources” or the “Company”) is pleased to advise that it has been granted exploration tenure over a significantly expanded land area surrounding the Company’s Kwale Mineral Sands Operations (“Kwale Operations”) in Kenya and expects to commence a drilling program in the September quarter.
The proposed drilling program follows a successful airborne geophysics program, conducted in 2015, covering the south coast region of Kenya from Mombasa to the Tanzanian border, which identified a series of exploration targets that were subsequently confirmed through ground reconnaissance. The initial program will comprise up to 18,000 metres of aircore drilling.
In addition to an extension of the Company’s Special Prospecting License 173 (“SPL 173”), which now covers an area of 177km2 , Base Resources has also applied for an additional SPL covering an area of 136km2 extending south west from SPL 173 towards the Tanzanian border. This license application is advancing through the granting process having been approved by the licensing committee of the Kenyan Ministry of Mining.
With the Kwale Operations consistently performing to plan, the extension of Base Resources’ tenure footprint and commencement of drilling in pursuit of mine life extension represents a notable shift in the Company’s focus and a clear statement of intent.
Base Resources’ Managing Director, Tim Carstens, said “With Kwale at steady state production and having mined 22.2 million tonnes since commissioning in October 2013, we are excited by the prospectivity of the new tenement area and the potential to further extend the mine life of the Kwale Operations.”