Mokopane Tin Project: Zaaiplaats Drilling Results

RNS Number : 7099H

Bushveld Minerals Limited

25 June 2013

 



25 June 2013

For Immediate Release

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Operational Update - Mokopane Tin Project: Drilling results from the Zaaiplaats target

Bushveld Minerals Limited (AIM: BMN), a mineral development company focused on iron and tin projects in southern Africa, is pleased to provide an operations update on the Zaaiplaats target of their tin project in Limpopo Province, South Africa. 

Highlights:

·      Mineralisation intersected in almost every borehole drilled in 2012-2013

·      Confirmation of the presence of two main, continuous, near-surface shallow-dipping zones of tin mineralisation

·      Drilling intersections of 3 m @ 0.51% (ZP04), 2 m @ 1.22% (ZP07), 19 m @ 0.16% (ZP11), 7 m @ 0.2% (ZP01), 11 m @ 0.18% (ZP14), 2 m @ 1.03% (ZP15), 4 m @ 0.33% (ZP41), 2 m @ 2.88% (ZP44).

CEO of Bushveld Minerals, Fortune Mojapelo said: "We are pleased with the initial assay results from our Zaaiplaats hard rock target which has been the site of significant tin workings in the past. These results show that mineralisation was intersected in almost every borehole drilled, and confirms the prospectivity of the Zaaiplaats target, especially given the favourable fundamentals for tin in the current market."

Results of assays of recently drilled boreholes at the Zaaiplaats Target

During 2012-2013, 43 boreholes were drilled at the Zaaiplaats Target (totalling 2067.26 m). Assay results have been received for all of these boreholes. Of the 43 boreholes drilled, 39 intersected tin mineralisation (>0.1% SnO₂), and down-hole widths and grades for selected mineralised intersections for each borehole are given below. A number of distinct zones of mineralisation are evident, and these merge in some holes. Each mineralised zone appears to be a roughly tabular sheet, dipping at approximately 15˚. These results will be incorporated into a geological and mineralisation model on which a Mineral Resource Estimate for the Zaaiplaats deposit will be calculated, expected July 2013.

The Zaaiplaats tin mine was formerly South Africa's 2nd largest tin mine, having produced over 100 000 tons of tin before it's closure in the late 1980s. These drill results are the first phase of drilling at the Zaaiplaats target, one of 5 targets identified in the licence area, and the second target to be drilled by Bushveld Minerals.  Drilling was focused on shallow open-pittable disseminated mineralisation remaining around the old mine workings.

Borehole N^o          From (m)               To (m)                    Width (m)              True width (m)                     Avg grade (%)    

ZP01                       1.00                         8.00                         7.00                                         6.76                         0.2

ZP02                       4.00                         6.00                         2.00                                         1.93                         0.18

ZP02                       23.00                       26.00                       3.00                                         2.90                         0.11

ZP03                       6.00                         10.00                       4.00                                         3.86                         0.28

ZP03                       35.00                       38.00                       3.00                                         2.90                         0.16

ZP04                       8.00                         11.00                       3.00                                         2.90                         0.51

ZP04                       27.00                       30.00                       3.00                                         2.90                         0.14

ZP05                       13.00                       19.00                       6.00                                         5.80                         0.14

ZP05                       19.00                       20.00                       1.00                                         0.97                         0.63

ZP05                       20.00                       22.00                       2.00                                         1.93                         0.37

ZP05                       22.00                       24.00                       2.00                                         1.93                         0.13

ZP06                       29.00                       30.00                       1.00                                         0.97                         0.09

ZP07                       7.00                         9.00                         2.00                                         1.93                         1.22

ZP07                       12.00                       18.00                       6.00                                         5.80                         0.13

ZP07                       18.00                       20.00                       2.00                                         1.93                         0.44

ZP08                       49.00                       50.00                       1.00                                         0.97                         1.18

ZP08                       51.00                       53.00                       2.00                                         1.93                         0.14

ZP09                       50.00                       51.65                       1.65                                         1.59                         0.14

ZP10                       28.00                       30.00                       2.00                                         1.93                         0.13

ZP10                       34.00                       39.00                       5.00                                         4.83                         0.14

ZP10                       56.00                       59.00                       3.00                                         2.90                         0.11

ZP11                       3.00                         22.00                       19.00                                       18.35                       0.16

ZP12                       20.00                       22.00                       2.00                                         1.93                         0.41

ZP12                       22.00                       23.50                       1.50                                         1.45                         0.75

ZP12                       43.00                       45.00                       2.00                                         1.93                         0.16

ZP13                       31.00                       33.00                       3.00                                         2.90                         0.25

ZP13                       43.50                       46.00                       2.50                                         2.41                         0.17

ZP14                       58.00                       69.00                       11.00                                       10.63                       0.18

ZP15                       52.00                       55.00                       3.00                                         2.90                         0.23

ZP15                       71.00                       78.00                       7.00                                         6.76                         0.18

ZP15                       84.00                       86.00                       2.00                                         1.93                         1.03

ZP15                       95.00                       99.00                       4.00                                         3.86                         0.27

ZP16                       77.00                       82.00                       5.00                                         4.83                         0.16

ZP17                       48.00                       50.00                       2.00                                         1.93                         0.15

ZP21                       2.00                         4.00                         2.00                                         1.93                         0.16

ZP22                       -                                                                                                              

ZP23                       3.00                         5.00                         2.00                                         1.93                         0.16

ZP24                       -                                                                                                              

ZP25                       4.00                         5.00                         1.00                                         0.97                         0.18

ZP26                       0.00                         3.00                         3.00                                         2.90                         0.21

ZP27                       0.00                         12.00                       12.00                                       11.59                       0.14

ZP28                       0.00                         3.00                         3.00                                         2.90                         0.16

ZP29                       0.00                         1.00                         1.00                                         0.97                         0.15

ZP30                       8.00                         11.00                       3.00                                         2.90                         0.17

ZP31                       -                                                                                                              

ZP32                       20.00                       21.00                       1.00                                         0.97                         0.15

ZP33                       12.00                       13.00                       1.00                                         0.97                         0.13

ZP34                       2.00                         8.00                         6.00                                         5.80                         0.13

ZP35                       5.00                         6.00                         1.00                                         0.97                         0.33

ZP36                       -                                                                                                              

ZP37                       13.00                       19.00                       6.00                                         5.80                         0.4

ZP38                       25.00                       28.00                       3.00                                         2.90                         0.21

ZP38                       45.00                       50.00                       5.00                                         4.83                         0.18

ZP39                       0.00                         1.00                         1.00                                         0.97                         0.36

ZP41                       23.00                       27.00                       4.00                                         3.86                         0.33

ZP41                       27.00                       33.00                       6.00                                         5.80                         0.13

ZP42                       62.00                       69.00                       7.00                                         6.76                         0.19

ZP43                       62.00                       65.00                       3.00                                         2.90                         0.11

ZP44                       23.00                       25.00                       2.00                                         1.93                         2.88

ZP44                       43.00                       48.00                       5.00                                         4.83                         0.38

ZP45                       76.00                       77.00                       1.00                                         0.97                         18

ZP46                       16.00                       16.25                       0.25                                         0.24                         3.08

ZP47                       112.00                     113.00                     1.00                                         0.97                         0.11        

Enquiries: [e-mail]

Bushveld Minerals Fortune Mojapelo	[phone]
Fox Davies Jonathan Evans	[phone]
Tavistock Communications Jos Simson/ Jessica Fontaine	[phone]
Tielle Communications Stéphanie Leclercq	[phone]

- ENDS -

Notes to the editor

Bushveld Minerals Limited is a mineral development company focused on the Bushveld Iron Ore Project and the Mokopane Tin Project, both located on the northern limb of the Bushveld Complex, South Africa.

The Company was admitted to the Alternative Investment Market of the LSE in March 2012.

 

END

 

 

DRLEAAKLAALDEFF