Mokopane Tin Project Drilling Programme

RNS Number : 0889C

Bushveld Minerals Limited

26 April 2012

 



26 April 2012

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Tin Drilling Programme

Bushveld Minerals Limited (AIM:BMN), the mineral development company focused on iron and tin projects in southern Africa, is pleased to  announce the commencement of its drilling programme on the Mokopane Tin Project, located on the Northern Limb of the Bushveld Complex in the Limpopo Province, South Africa.

The Company outlined in its Admission Document on listing on AIM in March 2012, an exploration programme on its Mokopane Tin Project, which included the following key objectives:

·       Resource growth by:

o in-fill and extension drilling on its first target - the Groenfontein target as well as resource definition drilling on the other

o test drilling on identified additional targets in the Mokopane Tin Project license area

o acquisition of additional targets with scope to add to the Tin Project inventory

·       Metallurgical Testwork.

·       Scoping and feasibility studies on the Groenfontein and Zaaiplaats targets.

The Company is pleased to confirm the commencement of its drilling and metallurgical testwork programme starting on Monday 30 April. Key objectives of this immediate programme are:

·      Extension drilling in order to define additional resources on the Groenfontein target area, which has been the focus of previous exploration targets. An estimated 20 recerse circulation (RC) boreholes (±1200m) will be drilled.

·      Infill drilling in order to bring more of currently defined indicated and inferred JORC compliant resources on the Groenfontein target area to the measured category. An estimated 58 additional RC boreholes (±2000m) will be drilled.

·      Test drilling of the Zaaiplaats target area, the site of historical tin mining and the second of the five identified targets in the Mokopane Tin Project license area. The drilling will target the open-castable resource and build upon surveying and geochemical sampling already being undertaken on the Zaaiplaats target. An estimated 47 diamond boreholes (±2200m) will be drilled.

·      Metallurgical testwork to determine minerology and processing parameters for the Mokopane Tin ore.

Bushveld has appointed Drillcorp Africa and has hired an additional geologist to complement the existing technical team. Assaying of the drill core will be carried out by Setpoint Laboratories, which has been appointed to carry out the analysis of the drilling assays. Initial assays results are expected in Q2 2012.

Commenting on the programme, the CEO of Bushveld Minerals, Fortune Mojapelo said, "The Zaaiplaats target is a particularly exciting target, being the site of an old tin mine with a prolific record of tin production in its history. Having already carried out a geochemical sampling programme over the Zaaiplaats deposit, which has defined areas of potential interest, we are pleased to launch this important drilling campaign. The Groenfontein and Zaaiplaats targets are the two of five targets identified in the Tin Project. We will keep shareholders updated of progress in due course."

Enquiries: [e-mail]

Bushveld Minerals Fortune Mojapelo	[phone]
Fox Davies Jonathan Evans	[phone]
Tavistock Communications Jos Simson/ Lydia Eades	[phone]

 

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