TBX - Thabex Exploration Limited - Update Mafuga F
TBX
TBX
TBX - Thabex Exploration Limited - Update Mafuga Forest Gold Project
THABEX EXPLORATION LIMITED
("Thabex" or "the Company")
Registration No 1988/000763/06
(Incorporated in the Republic of South Africa)
JSE share code: TBX
ISIN Code: ZAE000013686
Young Lions Exploring Africa
THABEX - UPDATE MAFUGA FOREST GOLD PROJECT
Thabex and Devxplore Limited ("Devxplore") of Uganda are pleased to announce the
results of a recent reconnaissance exploration program on their shared Mafuga
Forest project, which consists of a single exploration license covering an area
of 178 kmSquared in southwestern Uganda. A joint venture agreement between
Thabex and Devxplore was signed to explore the Mafuga Forest Exploration License
(EL 0103).
The Mafuga Forest property is located in the Kigezi goldfield, which appears to
form the northern continuation of the Kivu gold province that hosts several
world-class gold prospects in the eastern Democratic Republic of Congo("DRC").
Preliminary geologic investigations of the property by geologists from Thabex
and Devxplore lead to the discovery of four major, mineralized breccia bodies
that extend in a north-south direction for several kilometers and appear to be
the primary hosts to the gold mineralization. Where exposed, the mineralized
trends consist of iron- and gossan-stained, brecciated to sheared quartzitic
rocks cross-cut by secondary veins of quartz, Fe-oxides, sulfides and gold. The
presence of gold mineralization has been confirmed by previous stream-sediment
sampling programs and historic gold panning in all major drainage basins.
Grab samples for gold analysis by fire-assay were collected from all mineralized
trends and have been submitted to an international accredited laboratory for
analysis. The results are expected within the near future and we will continue
to provide updates as we receive these lab results and interpret them. In the
near-term, we will continue to carrying out further exploration activities on
the property with the hope of delineating drilling targets.
Future work on the Mafuga Forest property will consist of detailed geologic
mapping, systematic sampling of mineralized outcrop exposures and geochemical
soil sampling over mineralized trends to assist in the delineation of gold
mineralization.
All updates about the Mafuga Forest project are available on the Thabex website
www.thabex.com or on request by e-mail info@thabex.com.
Marius Welthagen, Chief Executive of Thabex, +27 (11) 459 6600 or 0860 THABEX
Johannesburg
21 May 2007
Date: 21/05/2007 15:38:27 Produced by the JSE SENS Department.
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