Baobab Resources PLC (AIM: BAO) said the first round of drilling results from the Tete iron/vanadium/titanium project in Mozambique shows significant widths of mineralisation, with iron and vanadium concentrate grades significantly higher than anticipated.
Among the highlights were diamond drill hole TDH0002 encountering 20.5 metres at 65.8 percent iron and 0.74 percent vanadium octoxide from 62.5 metres down-dip, and TDH0003 finding 19.5 metres at 64.6 percent Fe and 0.69 percent V2O5 from 99.5 metres.
Mineralisation remains open down dip on all sections.
Baobab managing director Brett Townsend said: “The significant intercepts and the Davis Tube Recovery test work completed on the core from these diamond drill holes is highly encouraging. Particularly pleasing are the concentrate results which show significant improvement on initial reported analyses of grades to very attractive levels for the predominant breccia mineralization style."
Results from the three remaining sections that were tested will be announced as they become available and a JORC resource statement is anticipated by the last quarter of 2009.www.proactiveinvestors.co.uk
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