Globe targets resource upgrade at Kanyika

Paydirt

Globe Uranium Ltd has started its 2008 drilling campaign at the 100% owned, multicommodity niobium, uranium, tantalum and zircon Kanyika project in Malawi.

Earlier this year, the company announced a 56mt inferred resource estimate for Kanyika and a higher-grade, mostly near-surface, component of 14mt was also identified within the overall resource.

The 7,500m RC and diamond core drilling programme now under way at Kanyika is designed to upgrade, through infill drilling, the resource category of the majority of the 14mt high grade resource.

Globe managing director Mark Sumich said he was confident the scoping study, which was due to be completed last month, would indicate Kanyika was "quite robust".

"It makes sense then for the company to progress the drilling campaign with some speed, just as we are with the metallurgy," Sumich said.

"We are fortunate with Kanyika that the highgrade areas are predominantly near surface. "We can therefore focus on these areas as priorities for initial mining. The 14mt already quantified equates to about the first five to six years of mining under the scenarios adopted in the scoping study, being completed by Coffey Mining."

The 7,500m of drilling comprises 6,000m of RC drilling and 1,500m of iamond drilling, infilling the high-grade, near surface areas to improve the existing 100m by 40m hole spacing to 50m by 20m.
The diamond core drilling will provide metallurgical samples, structural geological information and geotechnical data as well as provide greater confidence in the company's geological model.

The drilling campaign will also explore for extensions at depth and along strike of high grade areas in the Milenje Zone. The 56mt inferred resource has only been drilled to an average vertical depth of 120m and is open to the south and north, the latter being the Milenje Zone. The planned programme is scheduled to take three months to complete.