Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) is pleased to release initial assay results from recent drilling on the Ranobe mineral sands deposit in Madagascar.
The Toliara Project is based on the Ranobe deposit, located 45km north of Toliara in south west Madagascar on a 125.4 km2 mining lease (Permis d'Exploitation 37242). The deposit comprises a single continuous body of mineralisation approximately 20km long, 1.5km to 5.5km wide and 3m to 100m in thickness and situated immediately west of a prominent north south escarpment with mineralisation (including ilmenite, rutile and zircon) extending from the surface. The Ranobe deposit is host to the Ranobe Mineral Resources estimate (1.3 billion tonne @ 5.1% HM and 6.4% slimes) and the Ranobe Ore Reserves estimate (586 million tonne @ 6.5% HM and 3.9% slimes).
Over the course of 2018 and 2019, the Company completed 29,753m of drilling from 770 holes to test the extent of mineralisation to the west of the existing Ranobe Mineral Resources and at depth. While assaying is still ongoing, with only 67% of samples completed to date, results received show some material heavy mineral (HM) intercepts, particularly in the lower sand unit (LSU) to the west of the current Ranobe Ore Reserves.
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