Minbos Resources (ASX: MNB) is focused on the Cabinda phosphate project which covers an extensive 400,000 hectare across Angola and the DRC.
An Exploration target (confirmed by Coffey Mining Pty Ltd) of 333 million tonnes to 538 million tonnes with grades reported historically of around 10% to 20% of phosphate bearing material located within the Angolan licence area.
Minbos Resources (ASX: MNB) has recommenced exploratory drilling on the Cacata ore body at the Cabinda Phosphate Project in the Republic of Angola and has intersected high grade material similar to previous intercepts.
The Cacata deposit was initially drilled in December 2010 which highlighted high grade intercepts of greater than 30% phosphate (P2O5).
Minbos would be encouraged by the first four holes in the current program at the Cacata deposit as they provide confidence in the high grade nature, depth and thickness of mineralisation.
- 28 metres of mineralisation from 26 metres;
- 26 metres of mineralisation from 30 metres; and
- 25 metres of mineralisation from 22 metres.
These holes have been drilled at 250 metre intervals both north and south of previous drilling in March 2011.
The drilling program at the deposit in March this year revealed assays that included:
- 25 metres at 25.04% phosphate, including: 8 metres at 33.17% phosphate; and
- 19 metres at 27.58% phosphate, including: 11 metres at 32.58% phosphate.
Through its subsidiaries and joint ventures, Minbos has access to over 400,000 hectares of highly prospective ground that is actively being drilled.
Minbos is growing its current Inferred Resource base of 117 million tonnes at 13.6% P2O5 in incremental stages as it drills out the known deposits during the first half of this year.
Phosphate is an essential component in certain agricultural fertilisers, with the market supported by the increasing global demand for food and bio-fuel products.