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TBX
TBX
TBX - Thabex - Update to Shareholders - Monastery Kimberlite Project
Thabex Limited
Incorporated in the Republic of South Africa
(Registration number 1988/000763/06)
Share code: TBX ISIN: ZAE000013686
("Thabex" or "the Company")
Young Lions Exploring Africa
UPDATE TO SHAREHOLDERS - MONASTERY KIMBERLITE PROJECT
Shareholders are referred to the previous update to shareholders announcements
relating to the progress at the Company`s Monastery Kimberlite project in the
district of Marquard of the Free State Province, the last of which was contained
in the SENS announcement of the Company`s Interim Financial Statements for the
period ended 31 August 2011 released on 9 December 2011.
Resource Statement - Monastery Mine Proprietary Limited ("Monastery Mine")
Diamond and Depth Mt Grade Rough Ilmenite Semi-
Mineral below (bottom Diamonds mineral precious
Resource surface cut-off stones#
Category screen
size of
2mm)
m carats t kg
Monastery
Kimberlite
pipe
Measured 0 - 100 25 cpht*
1.70 425 000
5% 85 000
200 34 000
kg/ht**
Indicated 101 - 25 cpht 575 000
300 2.30
5% 115 000
200 46 000
kg/ht
Inferred 301 - 2.00 25 cpht 500 000
500
5% 100 000
200 40 000
kg/ht
Total 0 - 500 6.00 1 500 000 300 000 120 000
Monastery
Kimberlite
fissure
Exploration Outcrop - Reported - - -
information only 18cpht
Laura
Kimberlite
blow
Exploration Outcrop - unknown - - -
information only
* "ctph" carats per 100 tons
** "kg/ht" kg per 100 tons
# mainly garnets
Monastery Mine is pleased to announce that the above Diamond and Mineral
Resource statement was included in Monastery Mine`s Mineral Right application
lodged with the Department of Mineral Resources which included certain portions
of the farms The Monastery 237 and Laura 267 in the Marquard district of the
Free State Province. During the period 1981 to 1983 a total of approximately 14
000 carats were produced utilising a bottom cut-off screen size of 2mm and
during the period July 2011 to November 2011 approximately 1 000 carats were
produced, during the prospecting phase and in terms of the approved
Environmental Management Plan, from the oxidised dump of the Monastery
Kimberlite pipe utilising a 3mm cut-off screen size.
Marius Welthagen, P.Eng. (Int), MEng (Mining), MPhil (Mineral Economics), Hons
BCom (Economics), MECSA, MSAIMM, FGSSA, was responsible for compiling this
update report. As Chief Executive of Thabex he has sufficient experience
relevant to the style of mineralisation, type of deposit under consideration,
activities undertaken, evaluation and valuation thereof to qualify as a
Competent Person and Competent Valuator in terms of the SAMREC and SAMVAL Codes,
respectively.
Johannesburg
16 February 2012
Sponsor
Merchantec Capital
Date: 16/02/2012 17:10:01 Produced by the JSE SENS Department.
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JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
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howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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