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Strandline Resources Ltd.
Summary
| Project: | Bagamoyo | |
|---|---|---|
| Deposit: | Bagamoyo | |
| Location: | Tanzania | |
| Commodities: | Rutile-Zircon-Ilmenite-Leucoxene | |
| Date: | 9/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-9-2018: Strandline Resources Ltd. announces an Exploration/Drilling Update report for its Bagamoyo deposit at the Bagamoyo project. Exploration Target and new drilling results incl. 10.5m @ 4.4% THM from 0m. Strandline Resources (ASX: STA) is pleased t | |
| Resources: | Exploration Target: 78 - 156Mt @ 3.0 - 4.5% THM at Bagamoyo project | |
| CP/QP: | [Overall Report]: Brendan Cummins (Internal) | |
| ABSTRACT: | Strandline Resources (ASX: STA) is pleased to announce outstanding assay results from its maiden AC drill program second and round of auger drilling at the Bagamoyo mineral sands project in Tanzania. The BG-2 anomaly has received relatively wide spaced AC drilling along its 4.5km length, and remains open across and along the strike, which confirms the potential scale of the system. The drilling of additional auger holes into the BG-4 anomaly has established the potential for north-west trending high-grade strands parallel to the current coast. In light of these results, the Company has estimated an Exploration Target comprising 78 to 156Mt at 3% to 4.5% THM. A further drill program is required to test the veracity of the Exploration Target Strandline would caution the reader that the potential quantity and grade of the combined Exploration Target is conceptual in nature and there has been insufficient exploration to define a JORC compliant Mineral Resource. It is also uncertain if further exploration and resource development work will result in the determination of a Mineral Resource. Strandline Managing Director Luke Graham said the latest results reaffirm the Company is rapidly building a world-class mineral sands business in Tanzania. “These assays confirm that Bagamoyo is a major mineral sands discovery with high grades of zircon and titanium minerals,” Mr Graham said. “As a result, Bagamoyo is on track to be one of four major mineral sands projects we aim to evaluate and potentially develop in Tanzania over time. “Fungoni, which is located just 70km from Bagamoyo, was granted its Mining Licence from the Tanzanian Government last month and we are now advancing project funding and construction contracts. “Our Tanga South (Tajiri) project to the north is shaping to be a world-scale operation and we are also generating strong drilling results at the Sudi project in southern Tanzania, in joint venture with Rio Tinto.” | |
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