Globe Metals & Mining Delivers Maiden 310,000 tonnes of Fluorite

2012-03-09

Mar. 9, 2012 - Globe Metals & Mining in just two years has positioned the Mount Muambe project in Mozambique as a multi target fluorite and rare earth project, with the company now delivering a maiden high grade resource.
Mount Muambe now hosts an Inferred JORC Resource of 1.6 million tonnes at 19% fluorite, which equates to 310,000 tonnes of fluorite. The resource was defined from 71 holes for 5300 metres by Quantitative Group.
The main mineralised lodes extend over 680 metres in strike length, up to 160 metres across strike and close to 30 metres vertically in places.
What is so important about this resource is the near surface position, while also being open along strike in both directions - adding the potential for resource growth in the future.
Adding further interest is that there is the possibility for rare earth element mineralisation within the fluorite resource area, which could form a valuable by-product.
Mount Muambe can also be considered to be strategically located, being within 50 kilometres of the regional centre of Tete, and 30 kilometres from rail and power infrastructure.
Resource structure at Mount Muambe
The deposit occurs in the Mount Muambe carbonatite crater in the Tete Province of Mozambique, where Globe Metals has discovered fluorite-REE mineralisation occurring within a north-striking, sub-horizontal fenite sheets that are above a larger carbonatite body.
Two mineralised domains have been interpreted with the main mineralised domain consisting of three dominantly horizontal lenticular ‘lodes’ displaying considerable lateral continuity.
The company said that the secondary mineralised domain contains additional high-grade drillhole intercepts with limited continuity and, in places, only single drillhole intersections.
Natural voids occurring through the deposit were flagged in drill data and estimated in the model using an indicator approach.
The mineralisation occurs close to, or from the surface, and occurs primarily as horizontal lenticular sheets - although there appears to be a low angle easterly dip component to the largest of the three main lodes.