Last checked at 4 Dec 2012 07:00
4 December 2012 | For Immediate Release |
Bushveld Minerals Ltd
("Bushveld" or the "Company")
Mokopane Tin Project Update
Drilling Programme and Initial Geological Investigations at 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 update on its exploration programme at its Mokopane Tin Project.
Bushveld's Mokopane Tin Project consists of one licence covering 13,422 ha where numerous targets for open-castable disseminated tin resources have been identified. The Company has explored and drilled one target (Groenfontein) and has short-term plans to explore a further four targets. The Company has established a JORC resource in excess of 5,000 tonnes of tin on the first target drilled, and is looking to expand the resource base by undertaking an exploration and drilling programme on other targets in the licence area as well as in areas currently under application. In the longer term, the Company intends to expand the resource base further by acquiring additional projects in the Bushveld Complex and elsewhere.
The second target, Zaaiplaats, is located in the Bushveld Granites, approximately 3 km northwest of the Groenfontein deposit, where an indicated resource has already been established. The target lies on and around the abandoned Zaaiplaats tin mine, formerly South Africa's second largest tin producer.
Highlights:
1) Initial geological investigations, including surface geochemical sampling and a survey of old Zaaiplaats underground workings, support the model that an extensive zone of disseminated tin mineralisation is present in and around the old Zaaiplaats tin mining area. These included:
·; A surface geochemical sampling programme defining the zone of outcropping tin mineralisation was completed (Fig. 1)
·; A detailed survey of old Zaaiplaats' underground mine workings was conducted and allowed the Company to site boreholes above remnant pillars and avoid holing into old workings (Fig. 2)
·; Vertical chip sampling profiles¹, that were taken in order to estimate the grades remaining at Zaaiplaats (Fig. 3), gave intersections that yielded grades greater than 0.2% SnO₂ for 12 out of 15 profiles in the open pit and 8 out of 15 underground profiles at the old Zaaiplaats mine. The following grade intersections were found in the 12 vertical profiles from the open pit:
Profile | Intersection | Including |
A | 4m @ 0.11% | |
B | 6m @ 0.69% | |
C | 8m @ 0.16% | 2m @ 0.31% |
D | 4m @ 0.12% | |
E | 11m @ 0.18% | 5m @ 0.27% |
F | 5m @ 0.21% | 2m @ 0.30% |
G | 14m @ 0.14% | 2m @ 0.23% |
H | 7m @ 0.19% | 4m @ 0.25% |
I | 7m @ 0.25% | 5m @ 0.29% |
J | 7m @ 0.30% | 3m @ 0.43% |
K | 3m @ 0.45% | |
L | 3m @ 0.33% | |
M | 6m @ 0.40% | |
N | 4m @ 0.10% | |
O | 9m @ 0.17% | 4m @ 0.2% |
A total of 15 vertical underground chip sample profiles were taken along the sidewalls of the surveyed tunnels (Fig. 4). Some of the underground lines that were sampled indicated that the grade is higher than 1% SnO2 in some areas with most areas exceeding 0.1% SnO2:
Profile | Intersection | Including |
A | 4m @ 0.11% | |
B | 6m @ 0.69% | |
C | 8m @ 0.16% | 2m @ 0.31% |
D | 4m @ 0.12% | |
E | 11m @ 0.18% | 5m @ 0.27% |
F | 5m @ 0.21% | 2m @ 0.30% |
G | 14m @ 0.14% | 2m @ 0.23% |
H | 7m @ 0.19% | 4m @ 0.25% |
I | 7m @ 0.25% | 5m @ 0.29% |
J | 7m @ 0.30% | 3m @ 0.43% |
K | 3m @ 0.45% | |
L | 3m @ 0.33% | |
M | 6m @ 0.40% | |
U2 | 3m @ 0.27% | 2m @ 0.35% |
U3 | 4m @ 0.30% | 2m @ 0.46% |
U4 | 3m @ 0.12% | |
U8 | 4m @ 0.40% | 2m @ 0.65% |
U9 | 3m @ 0.13% | |
U10 | 5m @ 0.38% | 3m @ 0.58% |
U11 | 5m @ 0.09% | |
U12 | 1m @ 0.39% | |
U13 | 5m @ 0.18% | |
U14 | 9m @ 0.25% | 5m @ 0.31% |
The findings of this work supported the model that an extensive zone of disseminated tin mineralisation at acceptable grades is present in and around the old Zaaiplaats tin mining area.
·; GyroLAG (PTY) LTD. has been commissioned to fly an airborne magnetic and radiometric survey over the prospect area, this may help to further delineate mineralization and aid in identifying ore bodies in the area that could have a similar signature to the Zaaiplaats area. This survey is expected to be completed in the first quarter of 2013
2) Drilling programme making steady progress
The drilling programme announced in April 2012 at the Zaaiplaats target is making steady progress. The objective is to drill a total of 45 boreholes by mid-December 2012. Of these, 27 holes with depths ranging from 20m to 150m have been drilled as of 30th November 2012. The distribution and grade of the near-surface disseminated tin mineralization is becoming clearer as a result of this drilling. A resource statement is expected by mid-May 2013.
3) Initial metallurgical testwork nearing completion
Initial metallurgical testwork at the first target, Groenfontein, and the second target, Zaaiplaats, is nearing completion and the results are expected in December 2012. Metallurgical testwork will include mineralogical characterisation, grading analysis on various size fractions, densimetric tests on Sn recovery, and gravity recovery simulation using a shaking table.
¹ Assays for vertical chip profiles were analysed using a Niton XL 3D handheld XRF analyser and have not been verified using an independent certified lab
Enquiries: info@bushveldminerals.com
Bushveld Minerals Fortune Mojapelo | +27 (0) 11 268 6555 |
Fox Davies Jonathan Evans | +44 (0) 20 3463 5000 |
Tavistock Communications Jos Simson/ Jessica Fontaine | +44 (0) 20 7920 3150 |
Tielle Communications Stéphanie Leclercq | +27 (0) 83 307 7587 |
This information is provided by RNS
The company news service from the London Stock Exchange
- 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 Bushveld Iron Ore Project comprises two licenses covering 7,409 ha where a JORC compliant open-castable resource of 633 million tonnes (comprising 260 million tonnes Indicated and a further 373 million tonnes Inferred) has been established from a 4.5 km strike length. Further drilling along strike is expected to significantly add to the resource on the basis of identified strike extensions several kilometres long to the north and south of the project area with a target resource in excess of 1 billion tonnes planned. A scoping study on the project is underway for completion in Q1 2013.
The Mokopane Tin Project consists of one licence covering 13,422 ha where numerous targets for open-castable disseminated tin resources have been identified. The Company has explored and drilled one target (Groenfontein) and has short-term plans to explore a further four targets. The Company has established a JORC resource in excess of 5,000 tonnes of tin on the first target drilled, and is looking to expand the resource base by undertaking an exploration and drilling programme on other targets in the licence area as well as in areas currently under application. In the longer term, the Company intends to expand the resource base further by acquiring additional projects in the Bushveld Complex and elsewhere.
The Company was admitted to the Alternative Investment Market of the LSE in March 2012.
Figure 1
http://www.rns-pdf.londonstockexchange.com/rns/6559S_-2012-12-4.pdf
Figure 1: Results of rock chip geochemical survey over the Zaaiplaats target. Note that the majority of mineralisation occurs in a zone on the steep southeastern slope of the hill, in the Bobbejaankop Granite
Figure 2
http://www.rns-pdf.londonstockexchange.com/rns/6559S_1-2012-12-4.pdf
Figure 2: Surveyed underground workings at Zaaiplaats Mine, overlain on an old sketch of the workings. Note that the highest grades obtained from the rock-chip geochemical survey corresponds to the two open pits, which appear to be connected by underground workings in which a number of pillars of unmined material remain. The sketch of the old workings appears fairly accurate.
Figure 3
http://www.rns-pdf.londonstockexchange.com/rns/6559S_2-2012-12-4.pdf
Figure 3: Locations of the vertical profiles taken in the open pit, shown relative to the surveyed workings at Zaaiplaats Mine.
Figure 4
http://www.rns-pdf.londonstockexchange.com/rns/6559S_3-2012-12-4.pdf
Figure 4: Locations of the vertical profiles taken in the underground workings.