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Additional information
Additional Information
Market: ASX
Sector: General Mining
Epic: GBE
News: Latest news
Web Site: Globe Metals & Mining Limited
Other Articles: 17-02-201010-02-201003-02-2010

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Globe Metals & Mining Limited

Globe Metals & Mining Limited

Globe Metals & Mining Limited (ASX:GBE) is an African-focused uranium and specialty metals resource company. Its main focus is the multi-commodity (niobium, uranium, tantalum and zircon) Kanyika Project in central Malawi, which contains a 56 Million tonne inferred JORC resource, announced in March 2008. Niobium is the primary commodity at Kanyika.  A Pre-Feasibility Study was commissioned in September 2008 and production is planned to commence in 2011.

Wednesday, February 10, 2010

Globe Metals & Mining announces exciting drill results at Kanyika Niobium Project

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African-focused resource company Globe Metals & Mining (ASX: GBE) has announced the third batch of 2009 exciting infill drilling results from its Kanyika Niobium Project in Malawi.

The infill RC drilling program was designed solely to upgrade the resource category of selected areas of the deposit to the JORC Measured and Indicated categories.

Shares in the company increased slightly to 22.5c during the morning trade.

The upgraded resource estimate is due toward the end of Q1 2010, with the update to feed directly in to the pit optimisation, mine design and scheduling components of the Bankable Feasibility Study.

All twenty two RC drill holes reported in this market release intersected significant mineralisation at relatively shallow depths in the southern Milenje Zone.

A number of the deeper RC drill holes in this program intersected wides zones of unexpectedly high grade material, particularly those between sections 6,200mN and 6,400mN, inclusive.

It is expected this particular area of the resource will be significantly, positively influenced by these new wide, moderate to high grade drill intercepts.

Globe Executive Chairman Mark Sumich said the Kanyika Niobium Deposit continued to improve.

"These results continue to demonstrate the overall robustness of the resource," Mr Sumich said.

"The discovery of additional, unexpected, moderate to high grade zones should impact positively on the overall resource.”

The results returned unexpectedly wide zones of moderate to high grade mineralisation intersected in the southern Milenje Zone at Kanyika, with best results including KARC196 63m @ 4,392ppm Nb2O5, 244ppm Ta2O5, 103ppm U3O8 (from 32m) incl. 6m @ 10,082ppm Nb2O5, 455ppm Ta2O5, 265ppm U3O8 (from 78m)
KARC205 69m @ 3,546ppm Nb2O5, 198ppm Ta2O5, 85ppm U3O8 (from 33m) incl. 12m @ 8,053ppm Nb2O5, 412ppm Ta2O5, 171ppm U3O8 (from 70m).

The results will be incorporated in a new resource estimate to feed into Bankable Feasibility Study, with further infill drilling results expected shortly.

Globe Metals & Mining is concentrating its efforts on the multicommodity Kanyika Niobium Project, although the company has a number of other projects in Malawi and Mozambique.

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