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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	GBE
Latest Price:	0.17 (0.00%)
52-week High:	0.35
52-week Low:	0.13
Market Cap:	36.95M

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Globe Metals & Mining Full Globe Metals & Mining profile here

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 announces exciting drill results at Kanyika Niobium Project

Wednesday, February 10, 2010

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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