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Base Resources Ltd.
Summary
| Project: | Kwale | |
|---|---|---|
| Deposit: | Mafisini, South Dune Extension | |
| Location: | Kenya | |
| Commodities: | Titanium-Zircon | |
| Date: | 3/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 2-3-2017: Base Resources Ltd. announces an Exploration/Drilling Update report for its Mafisini, South Dune Extension deposit at the Kwale project. Drilling results incl. 22.5m @ 5.17% HM oversize from 0m. Base Resources Limited (ASX & AIM: BSE) (“Base Res | |
| Resources: | (Resource, Total): 88.5Mt @ 3.5% HM at Kwale South Dune deposit | |
| CP/QP: | [Overall Report]: Richard Stockwell (Internal) | |
| ABSTRACT: | 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. Base Resources has completed a program of edge-definition drilling along the eastern margin of the Kwale South Dune Deposit (currently 88.5Mt @ 3.5% HM - refer ASX/AIM Release 11th October 20162 ). Results suggest that the deposit may be extended by as much as 500m east of its current location. Additionally, an infill drill program has been completed to bring the Kwale South Dune Deposit to a (nominally) 100m x 100m drill pattern, and provide the basis for upgrading the geological confidence of Inferred and part of the Indicated Resource areas of the deposit to a Measured status. Any Inferred Resources achieving an Indicated or Measured Resource status will in turn be eligible for inclusion within the Kwale South Dune Ore Reserves. Appreciable Ore Reserve increases are anticipated from this work. Detailed mineralogy and resource estimation are expected to be completed in the September quarter | |
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