The Company has entered into an option with Tana Minerals Ltd (Tana) whereby Minbos can acquire 90% of the shares in MRE Mining (Mauritius) Limited (MRE). MRE’s sole asset is a wholly owned subsidiary in Madagascar which holds two exploration permits in central Madagascar covering 440km2.
Twenty-eight rockchip samples collected by Tana on the Ankazohambo prospect in 2010 returned TREO grades of between 0.14% and 40.8% with a median grade of 3.95% (Appendix 1). The results confirm earlier sampling conducted by the Kiev National University in 2008 and the German Federal Institute of Geology and Raw Materials (BGR) in the 1980’s.
Minbos is preparing to carry out the first ever drill program on the licenses.
Located in central Madagascar, 200km south of the capital city Antananarivo, the Ambato Rare Earths Project comprises two permits covering 440km2. Surface sampling has returned high-grade Rare Earth Elements (REE) contained predominantly in Bastnaesite. Bastnaesite is typically low in Uranium and Thorium and one of only three REE minerals to have been commercially beneficiated.
The Ankazohambo prospect has been sampled over 2.4km strike length returning rock chip samples up to 41% Total Rare Earth Oxides (TREO) of predominantly bastnaesite with low uranium and thorium. The project hosts multiple occurrences outcropping at surface that remain undrilled.
Minbos has entered into an option with Tana Minerals Ltd (Tana) whereby Minbos can acquire 90% of the shares in MRE Mining Limited. MRE’s sole asset is a wholly owned subsidiary in Madagascar which holds two exploration permits (The Ambato Rare Earths Project).
Minbos has delineated a substantial resource of 449.8Mt at 9.8% P2O5. Within this resource, two high grade projects have been identified at the Cacata and Kanzi Deposits. A summary of JORC resources is shown below: