Minbos Resources (ASX: MNB) has kicked off a drilling program targeting phosphate at the company’s wholly-owned Kanzi Phosphate Project, which is located in the Democratic Republic of Congo.
The company has drilled the first 12 holes of an 88 hole, 5,000 metre aircore drill campaign, with initial field data confirming the historical exploration reports in terms of depth from surface and thickness of mineralisation.
Results from the new exploration will enable a JORC Resource which will in-turn facilitate a Scoping Study.
The Scoping Study will be undertaken to model the deposit as a standalone operation, utilising its inherent benefits such as adjacent location to the Port of Boma.
The Port of Boma is on the Congo River, within 100 kilometres from the Atlantic Ocean, allowing for the potential export of phosphate to international markets.
Minbos is also focused on the development of the phosphate province centred on the Cabinda Province of Angola.
In April Minbos boosted the company’s phosphate JORC Inferred Resource to; 117 million tonnes at an average grade of 13.6%, at the Mongo Tando ore body within the Angolan based Cabinda Project.
The resource upgrade represents a 61% increase in tonnage and a 9% increase in grade compared with the initial estimate announced in February this year, and was conducted by Coffey Mining.
Minbos has access to over 400,000 hectares of land holdings through subsidiaries and joint ventures.