Cradle Resources receives final Panda Hill assays

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THE DRILL SERGEANT: Cradle Resources (ASX: CXX) has received the validated final assay results from the final four holes (PHDH008, 011, 012, and 013) of a 13 hole drill program recently conducted at the company’s Panda Hill niobium project in Tanzania.

Cradle explained the drill program was designed to confirm the grade and geology that had been indicated by historical drilling at the project, from which the current 56 million tonnes at 0.5 per cent niobium inferred JORC resource had been defined.

The drilling was also planned to obtain representative metallurgical samples for testing.

Highlights from the final assays include:

–    68 metres at 0.52 per cent niobium (PHDH008);

–    67m at 0.43 per cent niobium (PHDH011);

–    61m at 0.61 per cent niobium (PHDH012); and

–    72m at 0.48 per cent niobium (PHDH013).

 

Local geology of Panda Hill showing the location of the 2013 drill holes (red). Source: Company announcement

 

“We are pleased with the results from the last 4 holes,” Cradle Resources managing director Grant Davey said in the company’s announcement to the Australian Securities Exchange.

“These holes continue to confirm that the historical drilling results can be repeated and, in the case of Hole PHDH013, dramatically extended.

“This 13 hole drill program has supported our belief that there is significant resource upside potential available at depth and within the poorly drilled regions of the carbonatite deposit.

“The significant intercepts of the 2013 drill program clearly indicate that this is a world class niobium resource with significant economic potential.”