Cradle Resources confirms niobium mineralisation at Panda Hill

23 September 2013 (Last Updated September 23rd, 2013 18:30)

Cradle Resources confirmed thicker mineralisation and expanded resource boundaries at its Panda Hill niobium project in Tanzania.

Cradle Resources confirmed thicker mineralisation and expanded resource boundaries at its Panda Hill niobium project in Tanzania.

The company revealed results from the next two holes, PHDH002 and PHDH003, of a 13 hole drill programme at the project, which confirmed niobium mineralisation.

Cradle Resources said the drill programme was designed to confirm the grade and geology from historical drilling, which defined the current 56 million tonnes at 0.5% Nb2O5 inferred JORC resource and to secure representative metallurgical samples for testing.

"Cradle Resources said the drill programme was designed to confirm the grade and geology from historical drilling."

The drill holes intersected various zones of niobium mineralisation, with intercepts wider than those used to define the existing resource.

Intercepts from PHDH002 include 60m at 0.81% Nb2O5, 12m at 1.03% Nb2O5, 5m at 1.2% Nb2O5 and 14m at 0.93% Nb2O5.

Intercepts from PHDH003 103.2m at 0.76% Nb2O5, 21m at 1.18% Nb2O5 and 15m at 1.4% Nb2O5.

Cradle Resources managing director Grant Davey said the second batch drilling results confirms what the company is seeing from the first holes.

"We are seeing thicker zones of mineralisation than was indicated by the historical data and the high-grade zone is being repeated over several sections. These results illustrate the world class potential of the Panda Hill niobium project," Davey added.

The Panda Hill Niobium Project was first discovered in the 1950s and trial-mined in the 1960s.

The current Inferred JORC resource of 56 million tonnes at 0.5% Nb2O5 is situated within carbonatite and associated rocks and has a similar setting and rock type to the operating Niobec niobium mine in Canada.

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