Base Resources posts preliminary Kwale exploration results

The AIM-traded company said the “strong” drilling results clearly demonstrated the potential to grow resources and mine life to the north and south of existing project reserves.

Additional mineralisation was discovered, extending the footprint of the Kwale South Dune Deposit to the south by 950 metres and east by up to a further 500 metres.

The firm also reported the discovery of a new dunal mineral deposit at Mafisini, a continuation of the Kwale South Dune Deposit mineralisation, with recorded intercepts over a contiguous 1240 metres of strike and up to 480 metres in width.

It also discovered new dunal mineralisation and marine sediments in the NE Sector, adjacent to the Kwale Central Dune.

“As previously announced, the company commenced an aircore drilling program in the December 2016 quarter, within its Special Prospecting License 173,” Base Resources’ board explained in a statement.

“The drill programme aims to provide mine life extension to the Kwale Operations by exploring two previously identified prospective areas adjoining or near the existing Kwale Operation ore bodies - the south-west sector and north east sector.”

Of the drilling completed up to 23 February 2017, 361 holes had been completed in the SW sector to 5,726 metres and 43 holes had been completed to 1,119 metres in the NE sector.

At the Kwale South Dune Deposit edge, 53 holes were completed to 720 metres, along with 140 infill drilling holes completed to 2,059 metres.

Additionally, an airborne geophysics program - conducted in 2015 - covering the south coast region of Kenya from Mombasa to the Tanzanian border, identified a series of exploration targets that were subsequently confirmed through ground reconnaissance.

The full exploration results were made available via the London Stock Exchange Regulatory News Service.