ProActive Investors Australia
by Angela Kean
Kasbah Resources (ASX: KAS) has begun diamond drilling at its wholly owned Bou El Jaj Tin Project in Morocco, located 15 kilometres from the company’s Achmmach Project – the world’s largest undeveloped hard rock tin project.
If the initial 5,000 metre drill program provides sufficient encouragement, Kasbah’s goal will be to define a Resource during 2013 that may be able to provide additional ore to the presently envisaged underground mining and ore treatment project at Achmmach.Kasbah has outlined an exploration target of 2 to 4 million tonnes at 0.7% to 1% for around 14,000 to 40,000 tonnes of contained tin. The stratigraphy and alteration styles recognised at Achmmach extend discontinuously southwards through the Bou El Jaj Project area based on outcrop observations, a review of regional mapping and geophysics. Outcrop and surface geochemistry at Bou El Jaj support the hypothesis that the project may be analogous to the Achmmach deposit, and both may be part of a larger system.Unlike most of Achmmach, Bou El Jaj has a strong surface geochemical signature for tin. Outcropping tin mineralisation is evident along 2.1 kilometres of strike length within 3.1 kilometres of prospective tourmaline-altered rocks.The drilling program will test the potential for shallow tin mineralisation potentially mineable by surface mining methods, up to 200 metres below the natural surface. The initial drilling, beginning on the Gallery Hill prospect, is designed to test areas of outcropping high grade tin mineralisation, of up to 17.9% tin, identified in previous exploration conducted by the Bureau de Recherches et de Participation Minières, and extended by recent mapping and sampling by Kasbah within the Ain Karma Trend. Two new drilling rigs are already operating with a third scheduled to begin drilling in early October. The program is scheduled for completion in December 2012.Kasbah is extending the mapping of the region concurrently with drilling.Toyota Tsusho dealKasbah’s cash reserves have grown to $28.5 million with the second staged payment of $11 million from Toyota Tsusho. With the payment Toyota Tsusho has now nominally earned around an 18.8% interest in the Achmmach Tin Project.The third and final staged payment to Kasbah is due within 90 days of completing the Definitive Feasibility Study, which is already underway and scheduled for completion in the December quarter of 2013.Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.
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