Iron ore prospecting in Mozambique by Australia’s Baobab Resources shows “encouraging” results

1 February 2012

Fremantle, Australia, 31 Jan – The results of the first three wells drilled at the Tenge deposit, in Mozambique’s Tete province by Australian company Baobab Resources are encouraging, the company said in a statement issued in Fremantle Monday.

The Australian company’s activities are focused in Mozambique, in Tete province, where it is prospecting for iron ore deposits.

The company also noted it was waiting for the results of a further 23 test wells, which are still being analysed.

Baobab Resources said that calculating estimated reserves at the Tenge deposit, which is part of the Tenge/Ruoni project, was expected to be finished in March and that the current estimate of 324,000 tons was likely to increase. (macauhub)