25 October 2010
DRILL RIG ARRIVES AT CABINDA PROJECT
· Drill rig arrives on site at Cabinda project in Angola
· Local ceremonies completed to allow immediate commencement of drilling
· Clearing of access tracks and drill pads progressing well
· Drilling set to commence within the week.
Emerging Phosphate developer Minbos Resources Ltd (Minbos or Company) (ASX: MNB) is pleased to advise it has a drill rig on site at its Cabinda project in Angola, where it is expecting to commence first drilling this week.
The specialised aircore drill rig from Wallis Drilling arrived this week from Australia, after three months in transit. The rig will complete the drill program on the Company’s Cabinda tenements, before moving to adjacent license areas in the Democratic Republic of Congo.
Minbos, which last week listed on the ASX, has access to over 400,000ha of highly prospective phopshate ground in Africa, which has been extensively drilled in the past.
Minbos Executive Chairman Peter Richards said the Company was moving forward quickly with a drilling program, with the aim to define a JORC resource in the first half of 2011.
“We have a significant program planned, with all pre-drilling and approval works now complete allowing us to commence straight away. Geological, drilling and support staff have been mobilised and it is anticipated that drilling will commence this week,” Mr Richards said.
Good progress has been made on the ground, with all site accommodation and offices already established. The Company has also completed local ceremonies allowing access roads and drill pad development in preparation for the commencement of drilling.
Minbos’ environmental consultants, Prime Resources (Pty) Ltd, have completed their initial site visits, with the EIA and EMP for the drilling program already approved by the local Mining Authorities in Cabinda.
The Company has appointed Coffey Mining Pty Ltd as Geological and Resource consultants, and plans are underway to mobilise a Coffey representative to Cabinda at the commencement of drilling