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TBX
TBX
TBX - Thabex - Update: Kimberlite exploration in Namibia - NAMDEB results
THABEX 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: KIMBERLITE EXPLORATION IN NAMIBIA - NAMDEB RESULTS
Shareholders are referred to the SENS announcement of 15 February 2008,
referring the geophysical anomalies which have been selected for drilling on the
Minnex Exploration Namibia (Pty) Ltd`s ("Minnex Namibia"), two exclusive
prospecting licenses ("EPL`s") in northeastern Namibia by their joint venture
partner Namdeb Corporation (Pty) Ltd ("Namdeb").
The Kalahari sand cover in the Minnex Namibia EPL`s area, totalling 1496 square
kilometres, has been confirmed to be between 50 and 132 metres thick.
Namdeb recently reported that a total of 15 reverse circulation drill holes
(totalling 1829 metres) were drilled over 12 defined geophysical targets. Nine
of these geophysical targets were resolved after drilling and sampling, with no
further work being recommended. A total of 3 targets are still not resolved and
follow-up drilling of these targets is planned during early September 2008.
A total of 197 samples were collected by Namdeb and consigned to De Beers`
Sampling Treatment Centre in Johannesburg. These samples consisted of drill
chips taken from the discovery holes and sent for kimberlitic minerals recovery.
Although not all the results have been received to date, every drill hole has
generated at least few kimberlitic grains.
One of these discovery hole-samples generated 41 garnets and 17 spinels some of
which were recovered from Karoo Shale. Namdeb reported that the mineral
chemistry for the spinels is of high interest, with grains plotting in the
diamond inclusion and diamond intergrowth fields. Some of the grains have a high
Titanium content and could be inferred as defining a phenocrystic trend which is
diagnostic of spinels that crystallized from the kimberlite magma. Based on the
spinel results, Namdeb has recommended that further work be undertaken.
Shareholders will be informed as soon as the results of the follow-up drilling
and sampling are available.
This update on the Company`s activities is unrelated to the negotiations
referred to in the renewal of the cautionary announcement, dated 26 August 2008,
and shareholders are advised to continue to trade with caution when dealing with
their Thabex shares.
All updates about the joint venture with Namdeb are available on the Company`s
website http://www.thabex.com - News releases and on request by e-mail
info@thabex.com
Johannesburg
9 September 2008
Sponsor
PSG Capital (Pty) Ltd
Date: 09/09/2008 12:09:10 Produced by the JSE SENS Department.
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