Base Resources - Preliminary Exploration Results
Base Resources (ASX:BSE) has reported extensions to the South Dune mineralisation at the Kwale Mine in Kenya as well identification of a new dunal system to the east of the Central Dune. These newly identified zones have strike extents of up to 1.25km and widths of up to 0.5km. In the centre of the dunes, mineralisation has a depth of ~22m, tapering out on the edges. Grades and assemblages appear to be similar to the South and Central Dunes, offering good potential for extending the mine life of Kwale.
- Additional mineralisation discovered that extends the footprint of the Kwale South Dune Deposit to the south by 950m and east by up to a further 500m.
- Discovery of a new dunal mineral deposit at Mafisini, a continuation of the Kwale South Dune Deposit mineralisation, with recorded intercepts over a contiguous 1240m of strike and up to 480m in width.
- Discovery of new dunal mineralisation and marine sediments in the NE Sector, adjacent to the Kwale Central Dune.
Base Resources Limited (ASX & AIM: BSE) (“Base Resources” or the “Company”) is pleased to provide preliminary exploration results of the extensional and infill drilling program completed to date for its Kwale Mineral Sands Operations (“Kwale Operations”) in Kenya, East Africa. Strong drilling results clearly demonstrate the potential to grow resources and mine life to the north and south of existing project reserves.
As previously announced, the Company commenced an aircore drilling program in the December 2016 quarter, within its Special Prospecting License 173 (“SPL 173”). The drill program aims to provide mine life extension to the Kwale Operations by exploring two previously identified prospective areas adjoining or near the existing Kwale Operation ore bodies: the south-west sector (“SW Sector”) and north east sector (“NE Sector”) (refer Figure 1).
An airborne geophysics program, conducted in 2015, covering the south coast region of Kenya from Mombasa to the Tanzanian border, identified a series of exploration targets that were subsequently confirmed through ground reconnaissance. A summary of drilling completed to the 23rd February 2017 is included in Table 1 and shown in Figure 1.
SW Sector – Kwale South Dune Deposit extension & Mafisini Deposit
Exploration drilling in the SW Sector at Kwale has substantially increased the dimensions of the South Dune Deposit and intersected a new dunal heavy mineral sand deposit at Mafisini (“Mafisini Deposit”) (refer Figure 2). The Kwale South Dune Deposit has been extended a further 950m to the south at an average of 700m across strike. The Mafisini Deposit is a continuation of the Kwale South Dune mineralisation, separated from it by a narrow alluvial lowland. Mafisini records mineralised intervals over a contiguous 1240m of strike and up to 480m in width.
Visual inspection of the Kwale South Dune Deposit extension and Mafisini Deposit mineralisation indicates a similar composition and high-value mineralogy as that reported for the Kwale Operations Mineral Resources (134.6Mt at 4.2% heavy mineral (“HM”), 26% slimes, 2% oversize and a HM assemblage of 59% ilmenite, 13% rutile and 6% zircon - refer ASX release 11th October 2016(1) ). Detailed mineralogy and resource estimation are expected to be completed in the September quarter.
Representative cross sections of the discoveries are included in Figures 3 and 4 (excluding infill holes) and significant drill intercepts are included in Appendix 2.
(1) Refer to the “2016 Mineral Resources and Ore Reserves Update for Kwale” released on 11 October 2016, which is available at http://www.baseresources.com.au/investor-centre/asx-releases/. Base Resources confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of Mineral Resources and Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original market announcement continue to apply and have not materially changed.