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MOZAMBIQUE IRON ORE MINING IN TETE: Baobab Resources Plc measured resource estimation far exceeds expectations
MEASURED RESOURCES UNDERPIN A MINIMUM OF 20 YEARS OF OPERATION AT 39% Fe HEAD GRADE
Baobab Resources Plc (‘Baobab’ or the ‘Company’), the Mozambique focused resource development company, is pleased to provide the following summary of the Measured resource estimation of the Tenge resource block at the Company’s 85% owned Tete pig iron and ferro-vanadium project (the ‘Tete Project’) in which International Finance Corporation (‘IFC’) hold a 15% participatory interest.
HIGHLIGHTS
Based on the results of infill drilling programmes completed during 2013, international geology and mining specialist, SRK Consulting (South Africa), has concluded a review and reclassification of the Tenge resource block. All work has been completed in accordance with the updated JORC 2012 code guidelines.
Geological remodelling has enlarged the Tenge resource by 29Mt to 222Mt, with the following.
