Thabex - Drilling Commences On The Potgietersrus P
THABEX EXPLORATION LIMITED Young Lions Exploring Africa
("Thabex" or "the Company") Listed on The JSE - Code TBX
Registration No 1988/000763/06
DRILLING COMMENCES ON THE POTGIETERSRUS PROSPECTING AREA
Marius Welthagen, CEO and Managing Director of Thabex is pleased to report
that Falconbridge Ventures of Africa (Pty) Ltd ("FVA") has commenced
drilling on the farm Piet Potgieterus Town and Townlands 44KS.
The drilling programme is directed at a geophysical anomaly on the Uitloop 2
ultramafic body, which body straddles the northern border of Platinexco
(Pty) Ltd's ("Platinexco") prospecting area. Initially three bore holes are
planned, two on the Uitloop 2 body and one near the propecting shaft on the
Platreef mineralization as defined by Thabex during its drilling programme
in 1992.
The exploration programme on the farm Piet Potgietersrus Town and Townlands
44KS is conducted in terms of a Joint Venture in which FVA, a wholly owned
subsidiary of Falconbridge Limited of Canada, may earn 51% of the Joint
Venture by solely funding the current exploration programme up to R5,2m
before Platinexco has the option to contribute. Platinexco is a wholly owned
subsidiary of Thabex.
For further information, please contact:
Marius Welthagen
Managing Director -or- Leopold Bosch -or- Explore our website:
(011)678-0791 Director www.thabex.com
(011)678-0791 info@thabex.com
Johannesburg
30 July 2001
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