🕐27.01.11 - 00:00 Uhr

Baobab Resources [AIM: BAO] - South Zone Results



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Baobab Resources [AIM: BAO] - South Zone Results

Baobab Resources plc (AIM: BAO), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, has presented an update on the exploration activities currently underway at the Tete iron/vanadium/titanium project.

Highlights:

� Analytical results have been returned from three drill holes of an RC cross section located in the northern Block 7 of the South Zone prospect.

A broad package of heavily mineralised magnetite was delineated.

Mineralised intercepts reported best concentrate grades of:

TRC0053 � four significant intercepts, totaling 58m, including:
50m @ 57.7% Fe, 0.55% V2O5 and 34.3% mass recovery from 45m

TRC0054 � four significant intercepts, totaling 107m, including:
76m @ 59.9% Fe, 0.59% V2O5 and 29.6% mass recovery from 33m and
26m @ 59.3% Fe, 0.59% V2O5 and 26.9% mass recovery from 141m

TRC0058 � five significant intercepts, totaling 55m, including:
26m @ 56.6% Fe, 0.52% V2O5 and 35.6% mass recovery from 103m and
6m @ 63.7% Fe, 0.68% V2O5 and 35.0% mass recovery from 170m

� Drilling over two cross sections in the southern limit of the South Zone prospect (Block 1) has delineated broad zones of magnetite mineralisation.

Results from this area are expected to become available within the next two to four weeks.

Commenting today, Ben James, Baobab�s Managing Director, said: �the current round of results further confirms the robust continuity of South Zone�s northernmost Block 7.

Recent mapping has identified a 200m long, fault offset continuation of the block to the northeast which will be drill tested during the expansion RC phase in the coming months.



�Interpretation of the southern Block 1 drilling traverses is also looking encouraging and the Company looks forward to announcing the analytical results as they come to hand.�

Please refer to the attached announcement for more.

For further information, please contact:

Ben James, Managing Director
Baobab Resources plc
Tel: +61 (0)8 9430 7151

Jeremy Dowler, Chairman
Baobab Resources plc
Tel: +44 (0)1372 450529

James Harris / Angela Peace
Strand Hanson
Tel: +44 (0)20 7409 3494

Charles Vaughan / Gavin Burnell
Northland Capital Partners
Tel: +44 (0)20 7492 4763

Media:
Matt Beale
Fortbridge UK
Tel: +44 (0) 7966 389 196

Bill Kemmery
Fortbridge (Australia)
Tel: +61 (2) 9331 0655



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