December Quarter 2014
Review of Operations
Highlights
Kanyika Niobium Project
· Globe applied for a Mining Licence for the Kanyika Niobium Project in December 2014.
Chiziro Graphite Project
· Trenching assays confirming greater than six kilometres strike of high-grade graphite mineralisation in two trends, referred to as the "Main Trend" and "Musinda Trend".
· Best Total Graphitic Carbon (TGC) intersections from trenching include:
o 6m @ 15.0% TGC o 7m @ 12.2% TGC o 5m @ 16.3% TGC
· Rock chip sampling confirms two new graphite Prospects within the Chiziro Project area, named "Chimutu East" and "Katengeza".
Corporate & Finance
· Cash at bank and in term deposits at 31 December 2014 of $17.475 million.
· The Company's AGM was held on 28 November 2014, with Mr Alex Ko being re-elected as a Director.
· Mr Jinbing Tian ceased as a director on 28 November 2014.
· Ms Shasha Lu resigned as a director effective 18 November 2014.
· A total of 1,300,000 unlisted options expired unexercised during the quarter.
Globe Metals & Mining Limited (ASX Code: GBE) ("Globe" or "the Company") announces its activities report for the quarter ended 31 December 2014.
1. Overview of Activities
Globe's focus of operations is in Malawi in southeast Africa of which the Company's most advanced project is the Kanyika Niobium Project (KNP). The KNP is considered a significant niobium (Nb) and tantalum (Ta) resource. These metals are key additives in steel manufacture, electronics and ceramics.
In addition to KNP, Globe has three other exploration projects in Malawi as follows:
· Chiziro Graphite Project - in 2014 Globe completed 6,266 metres of trenching at its Chimutu Prospect and defined a six kilometres strike of high-grade graphite mineralisation. Mapping and rock chip sampling has located additional prospects. Initial preliminary metallurgical test work indicates encouraging recovery results.
· Machinga Rare Earths Project is an early stage exploration project with soil sampling programmes in 2013 and 2014 field seasons outlining substantial rare earth element (REE) and Nb-Ta anomalism that will require further exploration.
· Salimbidwe Rare Earths is an early stage exploration Project.
2. Kanyika Niobium Project
2.1 Overview
Globe has been undertaking exploration and resource development activities at Kanyika since 2007 and in 2011 made the decision to proceed to undertaking a Feasibility Study (DFS).
An updated Mineral Resource has been completed and on 7 January 2013 Globe made a release to the ASX stating a mineral resource inventory of 68.3M tonnes of Nb2O5 using a 1,500 ppm Nb2O5 cut-off (refer Table 1 & 2 below). No additions or changes have been made to this resource statement and it complies with the 2004 JORC guidelines for mineral resource statements as made in the release of 7 January 2013, (refer to the "Competent Persons Statement" page 17).
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