| Thu 26 Jun 2008, 14:29 | | TBX - Thabex Limited - Update: Salt River Base Mineral Project |
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TBX
TBX
TBX - Thabex Limited - Update: Salt River Base Mineral Project
THABEX LIMITED
(formerly 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
UPDATE: SALT RIVER BASE MINERAL PROJECT
Shareholders are referred to the SENS announcement of 22 May 2008, which
referred to the Salt River Base Mineral Project.
The directors of Salt River Resources Limited ("SRR"), formerly Thaba Egoli
Mining and Exploration Limited, a wholly-owned subsidiary of Thabex, are
pleased to announce the definition of a high-grade zone within the Salt River
deposit in the Northern Cape Province.
SRR is pleased to report that re-logging, geologic analysis and new geologic
modelling of the deposit have defined a high-grade zone along the eastern
margin of the deposit. The high-grade zone dips at approximately 25 degrees
in a north-east direction with a plunge of 22 degrees in a north-northeast
direction. This high-grade zone roughly measures 300m in width, averages 5m
true thickness and more than 6600m in length down dip, with the deepest
mineralised intercept encountered at 1300m below surface.
A mineral resource assessment of this high-grade zone is listed below:
Resource Mt Grade Cu
Category (%)
As of 24 Zn (%) Cu (%) Pb (%) Ag Au Equivalent
June 2008 (g/t) (g/t) *
Measured 3,79 2,48 0,51 0,72 24,49 0,55 1,56
Indicated 6,26 2,27 0,67 0,51 28,43 0,41 1,60
Inferred 1,91 1,23 0,95 0,53 45,00 3,65 2,84
Total 11,96 2,17 0,66 0,58 29,83 0,98 1,78
*Using 24 June 2008 metal prices (zinc US$1875/t; copper US$8492/t; lead
US$1801/t; gold US$881/oz and silver US$16.59/oz).
Dr Craig R McClung (MSc (Geology), PhD (Geology), MSEG, MSGA) was responsible
for compiling this updated report. As Executive Director of SRR and Senior
Exploration Geologist of Thabex he has sufficient experience relevant to the
style of mineralization, type of deposits under consideration, activities
undertaken and evaluation thereof to qualify as a Competent Person in terms
of the SAMREC Code.
All updates on the Salt River Project are available on the Company`s website
www.thabex.com
Johannesburg
26 June 2008
Sponsor: PSG Capital (Pty) ltd
Date: 26/06/2008 14:29:01 Produced by the JSE SENS Department.
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