Globe scores encouraging REE drill results at Mount Muambe

THE DRILL SERGEANT: Globe Metals & Mining has intersected encouraging widths of rare earth and fluorite mineralisation from a drilling program currently underway at the company’s Mount Muambe rare earth elements (REE) – fluorite project in Mozambique.

Globe completed 2,221m of RC drilling at the Mount Muambe REE – fluorite project in March.

 

Exploration coverage within the Mount Muambe crater. Source: Company announcement

 

The drilling targeted the REE and fluorite discoveries at Zones AA, BB and DD, with the company’s main objective being to confirm and extend previously identified mineralisation.

Globe said it has now received the results for the first four of the 23 holes it has drilled at Zone AA and BB so far.

The company said considerable widths of REE and fluorite mineralisation were intersected in two of the four holes.

Results received so far include:

–    96 metres at 2.2 per cent total rare earth oxides (TREO), including 18 metres at 4.1 per cent TREO from 32m at Zone AA;

–    76m at 2.2 per cent TREO, including 24m at 3.2 per cent TREO from 36m at Zone BB;

–    46m at 18.3 per cent calcium fluoride, including 12m at 21.8 per cent calcium fluoride from 64m at Zone BB; and

–    110m at 14.3 per cent calcium fluoride from 34m at Zone BB.

“These first four priority holes for 2012 have met our expectations, and we are keen to begin infill and step-out drilling in these areas,” Globe Metals & Mining managing director Mark Sumich said in the company’s announcement to the Australian Securities Exchange.

“Mount Muambe is now really beginning to shine as one of the best REE projects in Africa.

“The grades encountered so far and the very wide intercepts show the potential for a considerable resource which we plan to report in early 2013.”