Thabex - Update: New Diamond Exploration Propertie
TBX
TBX
Thabex - Update: New Diamond Exploration Properties
Thabex Exploration Limited
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: NEW DIAMOND EXPLORATION PROPERTIES
Thabex, through the acquisition of 50% of Minnex Exploration Ltd ("Minnex") by
Thabex subsidiary, Diamex JV (Pty) Ltd ("Diamex"), will add the following
kimberlite and alluvial diamond properties to its portfolio of mineral
exploration projects:
Ndiyona kimberlite project
Minnex has the rights to two Exclusive Prospecting Licenses (EPL 3082 and EPL
3083) in the Kavango region of Rundu district in Northern Namibia. Work to
commence upon finalization of a joint venture contract with a major diamond
producer.
Middelwater alluvial diamond project
Diamex plans to commence a percussion drilling program during April 2006 on the
farm Middelwater No.18 Portion R/E, Prospecting permit PP45/2004, to determine
the gravel tonnage on the area. On issue of the prospecting permit, Diamex will
commence with a secondary bulk sampling on the farm Middelwater No.18 Portion 1.
The two farms are located along the Orange River about 30km north of Prieska in
the Northern Cape Province.
Makgabana alluvial diamond project
Situated in the Molopo district of North West Province on the farm Molop-
Ratshidi. It is planned to commence bulk sampling on this project after the
completion of the Middelwater bulk sampling.
Alexkor 4a diamond project
In terms of a contract between Alexkor and Minnex, Minnex have the right to
extract diamonds from Alexkor"s 4a concession. A Joint Venture ("JV") is being
finalized with Gas, Energy & Mineral (Pty) Ltd, Westside Trading (Pty) Ltd,
Chistye Diamonds (Pty) Ltd, and Minnex to commence diamond mining on the area.
This JV will be subject to an extension of the existing contract with Alexkor.
As announced on 30 November 2005, Thabex is proposing, subject to the successful
conclusion of its due diligence investigation of Minnex, to list Diamex on the
JSE in due course.
Johannesburg
25 January 2006
Sponsor
PSG Capital Limited
Date: 25/01/2006 01:03:05 PM Produced by the JSE SENS Department
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