LONDON (Alliance News) - Bushveld Minerals Ltd Tuesday said it has confirmed further mineralisation at the Schoonoord, Bellevue and Marble Hall Tin sites in South Africa.
The iron ore, tin and coal mineral development company said that assay results received from four boreholes at the Schoonoord and Bellevue iron ore sites have confirmed the continuity of a key mineralisation zone by 1.4 kilometres, which represents a 67% increase to the existing strike of 5.5 kilometres on which the current resource estimate at the site of 718 million tonnes is based.
The company also said it has completed drilling of three initial holes at its 50% owned Marble Hall Tin Project and has confirmed the presence of significant tin mineralisation in two of the wells.
Bushveld shares were up 9.9% to 4.12 pence Tuesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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Bushveld Minerals (BMN)