Commencement of Exploration on Granting of Tenure

AIM Release 

21 June 2016

BASE RESOURCES LIMITED
Commencement of Exploration on Granting of Tenure

Base Resources Limited (ASX & AIM: BSE) (“Base Resources” or the “Company”) is pleased to advise that it has been granted exploration tenure over a significantly expanded land area surrounding the Company’s Kwale Mineral Sands Operations (“Kwale Operations”) in Kenya and expects to commence a drilling program in the September quarter.

The proposed drilling program follows a successful airborne geophysics program, conducted in 2015, covering the south coast region of Kenya from Mombasa to the Tanzanian border, which identified a series of exploration targets that were subsequently confirmed through ground reconnaissance.  The initial program will comprise up to 18,000 metres of aircore drilling.

In addition to an extension of the Company’s Special Prospecting License 173 (“SPL 173”), which now covers an area of 177km², Base Resources has also applied for an additional SPL covering an area of 136km² extending south west from SPL 173 towards the Tanzanian border.  This license application is advancing through the granting process having been approved by the licensing committee of the Kenyan Ministry of Mining.

With the Kwale Operations consistently performing to plan, the extension of Base Resources’ tenure footprint and commencement of drilling in pursuit of mine life extension represents a notable shift in the Company’s focus and a clear statement of intent.

Base Resources’ Managing Director, Tim Carstens, said “With Kwale at steady state production and having mined 22.2 million tonnes since commissioning in October 2013, we are excited by the prospectivity of the new tenement area and the potential to further extend the mine life of the Kwale Operations.”

ENDS.

CORPORATE PROFILE

Directors
Keith Spence (Non-Executive Chairman)
Tim Carstens (Managing Director)
Colin Bwye (Executive Director)
Sam Willis (Non-Executive Director)
Michael Anderson (Non-Executive Director)
Michael Stirzaker (Non-Executive Director)
Malcolm Macpherson (Non-Executive Director)

Company Secretary
Chadwick Poletti

NOMINATED ADVISOR & BROKER
RFC Ambrian Limited
As Nominated Adviser:
Andrew Thomson / Stephen Allen
Phone: [phone]
As Broker:
Jonathan Williams
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Computershare Investor Services Pty Limited
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PERTH WA 6000
Enquiries: 1300 850 505 / [phone]
www.computershare.com.au

SHARE REGISTRY:  AIM
Computershare Investor Services PLC
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AUSTRALIAN MEDIA RELATIONS
Cannings Purple
Annette Ellis / Andrew Rowell
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UK MEDIA RELATIONS
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KENYA MEDIA RELATIONS
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PRINCIPAL & REGISTERED OFFICE
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