Minbos Resources (ASX: MNB) continues to unlock the potential of the Cabinda phosphate project in Angola with the latest round of drilling results from the Cacata prospect.
Highlights from the latest six holes included:
- 16 metres at 26.3% P2O5 from 2 metres, including 14 metres at 28.3% P2O5;
- 17 metres at 29.1% P2O5 from 6 metres, including 10 metres at 32.5% P2O5; and
- 26 metres at 23% P2O5 from 30 metres, including 16 metres at 27.9% P2O5.
The importance of these hits is they continue to expand the area of high grade intercepts previously reported for Cacata, confirming the consistency of the grades and thicknesses from the ore body.
Peter Richards, executive chairman, commented "Although still in the exploration phase, Cacata ticks many of the boxes required to be a low capital and low operating cost producer of direct shipping ore (DSO) phosphate rock.
"The combination of close proximity to road infrastructure and the coast, high grades and thickness of the mineralization, the shallowness of some of the high grade intercepts and their DSO quality, confirms Cacata’s standalone potential as a world class deposit, one that will truly set it apart from many other phosphate rock projects around the world that are at various stages of development.”
The defined phosphate mineralization has been confirmed to be present over a strike length of 4.2 kilometres and a width of 300 metres, with a thickness which varies between 1 metre and 63 metres - with an average thickness of 26 metres.
More results are still pending, as Minbos has only received assays for 60% of drilled holes.
Minbos is targeting JORC Resource at Cacata by October 2011, to be conducted by Coffey Mining.
Adding to the potential of the project, earlier in the year at the Mongo Tando ore body within the project the Inferred JORC Resource was boosted to 117 million tonnes at 13.6%.