Kanyika growth continues unabated

Paydirt

The positive results continue to flow from Globe Metals & Mining Ltd's multi-commodity Kanyika project in central Malawi.

The company is carrying out an infill drilling programme designed to upgrade the 14mt high-grade, near-surface component of the 56mt inferred niobium, uranium, tantalum and zircon resource first announced in March 2008.

Three of the latest drill holes were designed to test the continuity of very high grade mineralisation in the northern part of the Milenje Zone. The results show excellent continuity of very high-grade mineralisation and geology, confirming the robust nature of this rich part of the deposit," Globe reported. One of the drill holes, KADD009, intersected the highest grades ever encountered at Kanyika.

Managing director Mark Sumich said: "These consistent, very high-grade results are fantastic for the project. Results received to date now show a robust. near surface. Rich zone with over 1% niobium over more than 200m strike length.

"This very high-grade material will impact positively on the overall project economics. Due to its shallow depth it will be extracted early on in the mine plan and, hence, reduce the capital payback time," he said.