MBMI Announces Confirmatory Grade Control Drill Results From Alpha
11 July 2008 - 8:00PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: MBR) is pleased to
report the results of 974 confirmatory grade control drill holes
completed by its Philippine partners on the 3,200 hectare Alpha
nickel property located in Narra, Palawan, Philippines. In addition
to the previously announced exploration and development drilling
results on the property (see news releases dated October 30, 2007
and November 6, 2007), these results provide detailed data required
for mapping the Small Scale Mine Operating ("SSMO") permitted area
for current and future excavation.
The updated drilling occurred within Narra Nickel South Block
and Alpha-Patricia Central Block; two (of three) twenty hectare
SSMO permitted areas granted to the Company's partners. Each hole
was completed to a depth of ten meters and drilled on a ten meters
by ten meters spacing to provide better grade control in the
identified mineralized areas. Samples were taken every meter down
each hole (to a depth of ten meters). Approximately ninety percent
of the total holes drilled had mineralized intercept grading of
greater than 1% Nickel; of these holes the average grade was 1.51%
Nickel over an average mineralized intersection length of 6.16
meters.
"The confirmatory drilling program on Alpha provides the on-site
operating team with the data to continue excavation and development
of this project," said Michael T. Mason, President and Director of
MBMI. "With the Company's recent emergence as a nickel material
supplier for the Asian stainless steel market, the expansion of
mineralized zones capable of supporting excavation of deliverable
nickel material is a key factor in the future success of this
operation."
The three SSMO permits allow the shipment of up to 50,000 dry
metric tonnes of mineralized material per year for a two year
period from each twenty hectare permitted area. Through the
year-end and up to May 31, 2008, the Company has sold and shipped
approximately 99,000 dry metric tonnes of material at an average
grade of 1.85% Nickel to Asian consumers. An additional 140,000 wet
metric tonnes of nickel bearing material has been excavated and
transported to the coastal stockyard facility in preparation for
shipping.
Accompanying Drill Hole location maps:
Click here for the SSMO Permitted Area Location Map
Click here for the Narra Nickel South Block Map
Click here for the Alpha-Patricia Central Map
Click here to view accompanying Drill Hole data results.
Analytical Techniques and Methodology
The drill core is sampled on a per meter basis and every sample
is assayed. After logging the core (BQ) is split and one half is
delivered to the Narra Nickel Mineral Laboratory located at the
Narra project site (previously operated by Ostrea Mineral Labs).
The samples are dried for 14 hours, crushed to minus 1/4", further
crushed to 30 mesh, and then reduced to a 300-500g fraction via a
one-stage riffle splitter. The split fraction is then pulverized to
90% minus 200 mesh and further dried. A 0.25 gram charge of minus
200 mesh pulp material is digested in a single stage four acid
process and then finished with AAS for Ni, Fe and Co. It is
standard procedure in the laboratory that every 10th sample is
duplicated and the analysis confirmed. No outside checks have been
undertaken but the samples remain available to complete this. The
half cores, the coarse rejects and the pulps have been stored in
secure storage in the Narra area.
Mr. John F. Cook, (P.Eng) is the designated Qualified Person as
defined in National Instrument 43-101, and has reviewed and
approved the news release.
Corporate Profile
MBMI Resources Inc. is a Canadian-based mining company focused
on the exploration and development of nickel mineral properties in
the Philippines. MBMI and its partners control eight nickel
laterite projects in the Philippines, covering an area greater than
22,000 hectares. MBMI's objective is to become a major supplier of
high-grade nickel material to primary industrial consumers in
Asia.
The Company's Philippine partners have been granted three Small
Scale Mining Operating permits for the Alpha nickel property in
Narra, Philippines. The issuance of these permits enable the
extraction of raw nickel material for shipment to Asian consumers,
and the first nickel material shipment was made in January, 2008.
Permits in the form of Financial and Technical Assistance Agreement
applications on the Alpha property and three other Palawan nickel
projects are well-advanced, and once granted would allow for
full-scale commercial production.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael T. Mason, President and Director
This news release may contain forward-looking information
including but not limited to comments regarding the timing and
content of upcoming financings, work programs, geological
interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking information includes
disclosure regarding possible future events, or conditions or
results of operations that is based on assumptions about future
economic conditions and courses of action, and therefore, involves
inherent risks and uncertainties. Although management has a
reasonable basis for the conclusions drawn, actual results may
differ materially from those currently anticipated in such
statements. At this time the Company has not yet established NI
43-101 compliant mineral resources or mineral reserves that would
support a commercial mining operation.
The TSX Venture Exchange has not reviewed and does not take
responsibility for the accuracy of this release.
Contacts: MBMI Resources Inc. Investor Relations Toll Free:
1-877-399-1991 or (604) 683-1991 (604) 683-8544 (FAX) Email:
mbr@mbmiresources.com Website: www.mbmiresources.com
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