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TBX
TBX
Thabex - Update - Kolo Kimberlite Project Approval of EMP
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 - KOLO KIMBERLITE PROJECT APPROVAL OF EMP
Shareholders are referred to the SENS announcement dated 22 June 2006 relating
to the granting of a prospecting licence to Angel Diamonds (Pty) Ltd ("Angel")
on the Kolo kimberlite area. The National Environmental Secretariat of Lesotho
has approved Angel"s Environmental Management Plan ("EMP").
The Kolo kimberlite pipe is situated some 38km south-west of Maseru in the
Mafeteng district. The pipe is a positive topographic feature at the foot of the
Kolo Mountain. After conducting an aeromagnetic, ground magnetic and resistivity
surveys commencing during 1975, the United Nations Development Programme:
Exploration for Diamonds project mapped the 1.1ha Kolo pipe and made 32 pits
inside the circular boundary of the pipe. Two distinct types or kimberlites were
identified in the pipe. The "A" type kimberlite on average contained the better
average quality diamonds than the "B" type kimberlite. A total of 623 tonnes of
kimberlite from the pits was treated, producing 50.77 carats at an indicated
grade of 14.1cpht for the "A" type kimberlite and 3.42cpht for the "B" type
kimberlite.
Angel has commenced a two phased prospecting programme on the area:
Phase I: Geology of the whole area, petrology and geochemistry of the
kimberlite and diamond core drilling of the main Kolo pipe.
Phase II: In terms of Angel"s EMP, a sampling programme of about 32 000
tonnes, of already available blasted kimberlite from the main
Kolo pipe, will be processed.
The main aim of the sampling programme is to recover a minimum parcel of about 5
000 carats of diamonds in order to assess the economic viability of the Kolo
kimberlite pipe and whether Angel should apply for a mining lease over the area.
Marius Welthagen P.Eng.(Int)(Registration number INT2502), 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 and evaluation thereof to
qualify as a Compentent Person in terms of the SAMREC Code. He is also a CORE
member of the Prospectors and Developers Association of Canada ("PDAC").
All updates on the Kolo kimberlite project is available on the Company"s website
www.thabex.com
Johannesburg
10 August 2006
Sponsor
PSG Capital Limited
Date: 10/08/2006 09:21:07 AM Produced by the JSE SENS Department
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