LONDON (Thomson Financial) - Baobab Resources Plc. said results to-date from
its Tete project give further credibility to the concept of a large iron ore
province, of which only a portion has been previously recognised.
The company said rock chip sampling from Massamba Group vanadiferous
titano-magnetite deposits returned average grades of 49 percent of iron, 21
percent of titanium oxide and 0.3 percent vanadium.
The Mozambique-focused exploration company said the Massamba grades are
virtually identical to those reported from Singore, indicating that the two
project areas may be members of the same mineralised system that extends over
significantly greater strike lengths than previously anticipated.
"The company considers the Tete Mafic Complex to be highly prospective and
relatively under explored. This, coupled with the unprecedented levels of
investment into power, transport and mining, makes the Tete area a premier
exploration address," Baobab's technical director Ben James said.
TFN.newsdesk@thomsonreuters.com
tsm/slm
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