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Kenyika resource estimate increased by 125%

7th January 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) - Junior Globe Metals & Mining has increased the mineral resource estimate at its Kenyika niobium project, in Kenya, by some 125%.

The project is now estimated to contain some 68.3-million tons of resource, with 5.3-million tons in the measured category and 47-million tons in the indicated category. A further 16-million tons has been classified as inferred resource.

Globe said in a statement that the resource estimate also indicated a 105% increase in the contained niobium levels and a 9% increase in the total contained niobium metal in all resource categories, compared with the previous resource estimate.

Acting CEO and exploration manager Fergus Jockel said on Monday that the 125% increase in the measured and indicated resource tonnage had exceeded the company’s expectations, and has allowed mine planning to proceed with a higher degree of certainty.

“Furthermore, the 9% increase in total contained niobium content is particularly encouraging. We are steadily advancing towards completion of a number of key components of the draft definitive feasibility study (DFS), and look forward to updating shareholders in due course.”

The latest resource estimate upgrade followed the completion of a 15 000 m drilling programme as part of the ongoing DFS work.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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