Globe Metals & Mining (ASX: GBE) is an African-focused resource company, specialising in rare metals such as niobium, tantalum and rare earths, as well as other commodities including fluorite, uranium and zircon. Its main focus is the multi-commodity Kanyika Niobium Project in Malawi, Africa, which will commence production of ferro-niobium in 2014, a key additive in sophisticated steels.
Globe also has a number of other projects at an earlier stage of development: The Machinga REE Project in southern Malawi, and the Mt Muambe Flourite/HREE Project in Mozambique.
Globe Metals & Mining kicks off rare earth oxide exploration program in Malawi
Globe Metals & Mining (ASX: GBE) has commenced an exploration program to target and extend rare early element and niobium mineralisation at the Salambidwe Rare Earth Elements Project in southern Malawi.
The Salambidwe Project is a virgin rare earth prospect representing a low cost, high upside potential exploration.
Rock chip samples taken in 2010 returned results including one sample of 2.05% total rare earth oxides and 214 parts per million dysprosium oxide.
In the 2011 exploration program, Globe will carry out further rock chip samples along with ground radiometrics to identify areas with potential for rare earth elements mineralisation.
The company will also undertake a broad 100 metre by 100 metre soil pit and auger program across the entire crater to ensure a sufficient density of sampling to determine mineralised potential and geological control.
Globe expects the 2011 exploration program to be completed by late November, with analytical results in early 2012.
Depending on the results from this exploration program, Globe will deploy its existing teams in Malawi to start drilling the project in mid-2012.
About Salambidwe
The Salambidwe ring complex is located in southern Malawi, straddling the border of Mozambique. Some 85% of the ring complex exists within Globe’s exploration licence.
The complex is part of the Chilwa Alkaline Suite of southern Malawi, a region known for rare earth elements projects, including Lynas Corporation’s (ASX: LYC) Kangankunde Project (2.5 million tonnes at 4.2% total rare earth oxides).
