Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (113900)	9/29/2015 8:48:30 PM
From: LoneClone	Read Replies (1) \| Respond to of 194042

Botswana Metals to begin feasibility study at Maibele North Wednesday, September 23, 2015 by Proactive Investors proactiveinvestors.com.au BCL Limited is owned by the Botswana government and its decision to progress to feasibility studies at Maibele North sends a strong signal for project development. The feasibility study completion will segue into lodgement of a mining licence application by end of December 2015. Worley Parsons will undertake the Feasibility Study and AquaLogic will carry out an Environmental Impact Assessment (EIA) at the project. Ongoing drilling An aggressive 12,500-metre drilling campaign at Maibele is continuing to make new discoveries as well as reclassify the known resource from a JORC Inferred to a JORC Indicated status. The project’s current resource is 2.38 million tonnes at 0.72% nickel, 0.21% copper and 0.63 grams per tonne of PGE plus gold. In turn, this will facilitate the study. Feasibility and EIA studies are requirements in the application for a mining licence with the Department of Mines in Botswana. This week nickel sulphide mineralisation was found 400 metres along strike from the existing resource. Those latest assay results included 4.3 metres at 1.1% nickel, 0.4% copper and 0.7 grams per tonne platinum group metals (PGE) from 112.5 metres. The hole that produced this interval also recorded 5.2-metre section grading 1.8% nickel, 0.4% copper and 1.96 grams per tonne PGE from 133 metres. This in turn included 3.4 metres at 2.7% nickel, 0.5% copper and 2.4 grams per tonne PGE from 134.9 metres. More readings at the site returned 1.2 metres at 1.6% nickel, 0.3% copper and 1 gram per tonne PGE from 119.3 metres along with 1 metre at 12.6% nickel, 0.5% copper and 1.5 grams per tonne PGE from 110.5 metres. Potential for growth in resource base Recent step out drilling indicates the prospectivity and potential for resource growth as the nickel, copper and PGE mineralisation continues to the west, east and at depth and is still open in all of these directions. Further drilling along strike from Maibele North Drilling planned in 2015 will include BML’s 100%-owned PL59/2008 which is directly along strike from the Maibele North orebody and contains 13 kilometres of an interpreted geological trend that appears to be a host to the nickel-copper-PGE mineralisation in the region. BML is looking to drill the extension to Maibele North mineralised trend prior to the end of 2015. SQUID ground EM surveys have been completed over three priority target areas along this trend in PL59. To date every SQUID conductor drilled by the JV partners has found nickel sulphide mineralisation. BCL Limited plant Botswana Minerals' JV partner BCL Limited has a mine and processing plant, including a smelter, only 50 kilometres to the southeast of Maibele North and has a requirement for additional ore. This plant treats BCL’s Selebi Phikwe nickel mineralisation and will also treat the Maibele nickel mineralisation if it proves an economic proposition. Analysis The decision by BCL to progress to feasibility studies at Maibele North coupled with an ongoing large drilling program sends a key message. BCL's processing plant, including a smelter to the southeast of Maibele North provides a path to monetisation if the feasibility study is positive.