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Additional Information
Market:ASX
Sector:General Mining
EPIC:GBE
Latest Price: 0.15  (3.57% Ascending)
52-week High:0.27
52-week Low:0.13
Market Cap:32.47M
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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.

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Globe Metals & Mining hits wide zone of heavy rare earth oxide at Machinga

Wednesday, May 26, 2010
Globe Metals & Mining hits wide zone of heavy rare earth oxide at Machinga

Globe Metals & Mining (ASX: GBE) has reported the second batch of laboratory chemical results for the initial trenching program at the Machinga Rare Earth Project in southern Malawi, with a 33m-wide zone of heavy rare earth oxide (HREO) mineralisation intersected in the second trench.

The company recently entered into a joint venture agreement to acquire an 80% interest in the Machinga Rare Earth Project from Resource Star Limited (ASX: RSL).

The initial trenching program comprised of 8 trenches in total. The results from trench number two, show not only high grades of heavy rare earth elements, but also significant widths.

The results from trench MATR002 show a single intercept of 33m width that contains an 11m-wide zone of >1% TREO (including 11m @ 1.00% TREO and 3m @ 1.44% TREO). There was a Very high ratio of HREO:TREO - with an average of 38%.

In addition, significant grades of niobium, tantalum and zirconium accompany the rare earth mineralisation.

The intercept in MATR002 occurs 180m directly along strike from mineralisation encountered in the first trench, MATR001. This gives the company significant confidence in the continuity of mineralisation along strike. A drilling program is planned for June 2010.

HREO prices continue to rise with individual HREOs up to 100 times the prices for light rare earth oxides (LREO).

Julian Stephens, executive director for explorations, said “we are very happy with the strike consistency of mineralisation shown between the two trenches excavated to date.”

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