Base Resources Limited (AIM:BSE, ASX:BSE) said phase one exploration drilling at its Umba South prospect in northern Tanzania had confirmed the presence of rutile mineralisation but in a wide grade range.
Average grades from the 3,000-metre programme were at around 20% for the heavy mineral but varied between 5% to 50%.
Three primary geological domains were identified, though preliminary mineralogical assessment of drill samples is yet to be completed, with the presence of rutile calculated based on XRF analysis of the non-magnetic fraction of heavy mineral.
A phase 2 infill drilling program to assess the continuity of saprolite mineralisation, one of three zones identified, has been completed, with the results expected to be available in the third quarter of 2023.
These results will assist in planning future exploration activities at Umba South, though access to areas over the border in Kenya is restricted by a current moratorium on new mining permits.
Broker Liberum said the results were disappointing, with all three strata at Umba South unsuitable for various reasons.
Umba South is c.75km west-southwest of Base’s Kwale operations in Kenya, notes the broker.
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