LONDON (Thomson Financial) - Mozambique-focused mineral explorer Baobab
Resources Plc. said new survey results 'significantly upgrade' the potential of
the Massamba area in the Tete project to host large tonnages of titano-magnetite
ore, and presents the opportunity for the company to make major new discoveries.
Bulk density analyses of rock samples from the Massamba area have returned
an average specific gravity of 4.3 grams per cubic centimetre, significantly
higher than previously anticipated, Baobab said.
The company said will review the results of its metallurgical tests to
direct its future exploration initiatives in the area.
"With the price of vanadium being directly linked to steel production and
the level of demand for steel showing no sign of abating, it is intended to
commence drilling campaigns as soon as results dictate," said technical director
Ben James.
TFN.newsdesk@thomson.com
ami/ran/ajb
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