Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kasbah Resources: Achmmach high grade tin discoveries a catalyst for confidence category upgrade  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 29/05/2012

No. of Ratings : 0
Add to Mixx!


 


With Achmmach already hosting one of the top five tin resources globally, Kasbah’s project in Morocco is proving further its potential to host broad and high grade tin mineralisation - with an impressive intersection of 35.8m at 1.21% tin from 287m.
(MENAFN - ProactiveInvestors - Australia) Kasbah Resources (ASX: KAS) has delivered more broad widths and high grades at its Achmmach Tin Project in Morocco as it successfully works to infill and upgrade the confidence category of the Resource.

The current drilling program is designed to upgrade the current Inferred 9.3 million tonnes at 1% for 93,000 tonnes of contained tin to the Indicated category, which already hosts 5.3 million tonnes at 0.8% for 42,000 tonnes of contained tin.

Exploration is moving forward at pace with five diamond rigs active which will continue with infill and extensional drilling of the Meknes Trend.

Demonstrating the widespread nature of the mineralisation at Achmmach, an intersection of 35.8 metres at 1.21% tin from 287 metres, including 6.7 metres at 2.32% tin, is potentially linked to the high grade mineralisation of 26.3 metres at 1.32% tin from 272.7 metres and 43 metres at 2.01% tin from 380 metres discovered in two earlier drill holes to the west.

Other notable intersections in this phase of drilling include:

- 20.3 metres at 0.93% tin from 284.7 metres, including 2.3 metres at 4.1% tin;
- 4 metres at 1.27% tin from 309 metres;
- 44.6m at 0.74% tin from 328.2 metres, including 8.9 metres at 0.98% tin from 335.3 metres.

The Meknes Trend mineralisation now extends for about 1,160 metres and is open in both directions along strike and at depth.


New tin lode

Earlier this month Kasbah intersected a new, unexpected zone of high grade mineralisation indicating a new tin lode at Achmmach.

Importantly, these new high grade tin intercepts at the Gap Zone are outside the current 2012 Resource model.

Notable assays include 24 metres at 1.21% tin from 296 metres, including 7 metres at 2.02% tin, 31.1 metres at 1.54% tin from 223 metres, including 17 metres at 2.13% tin and 5 metres at 3.18% tin, and 8 metres at 1.74% tin from 339 metres.

The current infill drilling program extends for about 400 metres of strike from the last drilled section of the 2010 Resource estimate model in the west to a section of the new 2012 Resource model.


Comment

With 135,000 tonnes of contained tin in a resource of 14.6 million tonnes at greater than 0.9% the Achmmach Tin Project is now a top five tin resource worldwide with one of the highest grades.

Two recent catalysts for Kasbah and Achmmach are a 150% increase in the Resource and the landmark deal with Toyota Group company, Toyota Tsusho Corporation, for an option to acquire up to a 20% interest in the project.

Both these achievements further de-risk the Achmmach project and position it as a strategic asset.

Toyota Tsusho is Asia's premier tin trading house and one of the largest companies in the world, trading around 8% of the global tin market and more than 50% of all tin consumed in Japan.

The investment by Toyota Tsusho fundamentally underwrites the project not just financially but as an economic and valuable asset to the tin industry worldwide.

Even further certainty over Achmmach was delivered recently with the transfer of the exploitation permits to Kasbah's Moroccan subsidiary now complete.

Kasbah's subsidiary is now the 100% owner of the two exploitation permits that comprise the Achmmach project.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help