LONDON (Thomson Financial) - Baobab Resources Plc. said underground drilling
tests conducted at the de-commissioned Mundonguara copper/gold/silver mine
showed down plunge continuity of ore shoots below the existing development.
However, further drilling is required as a number of critical holes did not
reach the targeted depth on two of the five traverses drilled, the Mozambique
focused mineral exploration company said.
The company said it also intends to launch an aggressive pre-feasibility
drilling campaign as soon as practicable, comprehensively testing both the mine
at depth and its along strike continuations.
Managing director Brett Townsend said: "The results to date from the
Mundonguara project warrant the commissioning of a preliminary resource
estimate, which we look forward to receiving in the coming months."
TFN.newsdesk@thomson.com
jjo/slm
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