| ||November 06, 2007|
MBMI Announces Grade Control Drill Results-Alpha Project
| ||Vancouver, B.C., November 6, 2007. MBMI RESOURCES INC. (MBR: TSX-V) ("MBMI") (the "Company") wishes to report results of 281 grade control drill holes completed by its Philippine subsidiaries on the 3200 hectare Alpha, Philippines nickel project located in Narra, Palawan. Upon identifying initial areas of interest through the examination of historical exploration data, coupled with an initial exploration program carried out by the Company's Philippine subsidiaries, (see news release-October 30-07) drill holes of 10 meters depth, were completed within the Patricia Louise Small Scale Mine Operating (SSMO) permit area granted to the Company's subsidiaries. |
The average weighted grade of all holes with intersections greater than 1% Nickel was 1.82%Nickel (Ni), and 16.8% Iron (Fe) over an average intersection length of 7.66 meters. The holes were drilled on a 10 meters by 10 meters spacing to provide better grade control in the identified mineralized areas. In each drill hole, samples were taken every meter down to a depth of 10 meters. All of the samples from the grade control holes drilled were analyzed for Nickel and Iron. Results of this program will enable close grade control monitoring and segregation of mineralized material in the excavation program currently underway. Approximately 55,000 tonnes of this drilled mineralized material has been excavated to date.
At this time, the Company's subsidiaries have the right to carry out small scale mining operations in accordance with the government regulations but not the right to commence full scale commercial production. The SSMO's allow the shipment of up to 50,000 tonnes of material per year for a two year period from each 20 hectare permitted area. It should be noted the Company has not yet established NI 43-101 compliant mineral resources or mineral reserves that would support a commercial mining operation. There is no guarantee that future exploration will result in the discovery of mineral resources or that these resources, if delineated, will be economic or sufficient to support a commercial mining operation, nor the current small scale mining operation will be economic.
To view accompanying Drill Hole location map please: click here
To view accompanying Drill Hole results please: click here
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 Ostrea Mineral Laboratory located at the Narra project site where it is dried, crushed to minus ¼" and then reduced to a 300 gram to 500 gram fraction via a two stage riffle splitter. The split fraction is then pulverized to 90% minus 200 mesh. A 0.25 gram charge of minus 200 mesh pulp material is digested in a single stage three acid process and then finished with AAS for Ni, Fe and Co. It is standard procedure in the Ostrea 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 (QP) as defined in National Instrument 43-101, and has reviewed and approved the foregoing data.
At present, the Company's subsidiaries control eight nickel laterite projects in Palawan and Samar in the Philippines covering an area greater than 22,000 hectares. The Alpha property is subject to three small scale mining operation permits issued by the government of the Philippines and to date the Company's subsidiaries have excavated approximately 55,000 tonnes of mineralized material which is intended to be sold to Asian purchasers of such material when shipping capacity is available. The excavated material has been transported to the stockpiling area at the coast, where it is being dried, segregated and crushed in preparation for shipment. Limited excavation can be carried out during heavy rainfall periods as has been experienced recently.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael T. Mason"
President and Director
For further information:
David G. Tafel -- VP Corporate Development, Director
Fax: (604) 683-8544
Toll free: 1-877-399-1991
The TSX Venture Exchange has not reviewed and does not take responsibility for the accuracy of this release.
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.
You can view the Next News Releases item: Wed Nov 14, 2007, MBMI Files NI 43-101 Technical Report-Alpha Project, Trading to Resume
You can view the Previous News Releases item: Tue Oct 30, 2007, MBMI Announces 234 Exploration Drill Hole Results-Alpha Project Includes 20.5 M Grading 2.03% Nickel
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