Scoping Study

RNS Number : 0292C

Pathfinder Minerals PLC

01 March 2011

 

Embargoed: 0700hrs 1 March 2011

Pathfinder Minerals Plc

("Pathfinder Minerals" or the "Company")

Scoping Study

Pathfinder Minerals (AIM: PFP), the natural resources company with licences to mine heavy minerals sands in Mozambique, has engaged engineering consultants URS/Scott Wilson ("Scott Wilson") to undertake a Scoping Study on the development of the Company's Moebase and Naburi minerals sands deposits in Mozambique (the "Licences"), containing a potential titanium dioxide ore resource.

Pathfinder Minerals intends to develop these two deposits as a single project (the "Project"). The Scoping Study is designed to present the Project's envisaged mining method, process flow sheet and ancillary infrastructure. The Scoping Study will provide an outline of the Project with a view to moving towards the next level of engineering and cost accuracy.

Pathfinder Minerals has a 100% interest in the Licences, located on the Indian Ocean coast of Mozambique and explored by BHP Billiton in the 1990s. Scott Wilson has previously undertaken a Mineral Expert's Report which categorised the mineral resources of the two deposits based on the historic borehole information acquired from previous drilling. The Scoping Study will also be based on this historical resource, which will not be updated as part of the Study.

A further announcement will be made on completion of the Scoping Study, which the Company estimates will be in approximately four to eight weeks.

Enquiries:

Pathfinder Minerals Plc

Nick Trew, Chief Executive

Tel. [phone] (via M: Communications)

Daniel Stewart & Company Plc

Oliver Rigby or James Thomas

Tel: [phone]

M: Communications

Ben Simons or Maria Souvorov

Tel: [phone] /2327

Notes to Editors

Pathfinder Minerals, through a wholly owned subsidiary, has a 100% interest in two licences to mine heavy minerals sands, containing a potential titanium dioxide ore resource. The Naburi Licence and Moebase Licence, formerly owned by BHP Billiton, are over land located on and near the Indian Ocean coast of Mozambique. Historical reported mineral resources on the property are estimated at 2.02 billion tonnes with a 3.55% total heavy mineral content, which is equivalent to approximately 71.7 million tonnes of contained heavy minerals.  Confirmatory drilling and metallurgical test work will be required to upgrade the classification of the mineral resources in accordance with current AusIMM, SAMREC or CIM resource classification codes.

Exploration work conducted on the licences from the mid-1980s through to 2002 has identified significant mineralisation. Bulk sampling and metallurgical test work conducted in support of prefeasibility and feasibility studies in the mid-1990s indicates that valuable heavy minerals can be recovered using conventional dredge mining, wet concentration and dry mineral separation processes.

The Company intends to undertake a feasibility study on the licences.

Heavy Minerals Sands

The more valuable components of a heavy mineral sands deposit include the titanium oxide minerals ilmenite, rutile and zircon. Ilmenite and rutile are used to produce titanium dioxide pigment used in the production of paint, paper, plastic, textiles, rubber and pharmaceutical products. Zircons are commercially mined for the metal zirconium and are used for abrasive and insulating purposes.

Scott Wilson

Scott Wilson is part of URS Corporation. With its headquarters in San Francisco, URS is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. Scott Wilson is a global integrated design and engineering consultancy for the built and natural environments.  With a worldwide network of offices, Scott Wilson offers Strategic Consultancy and multi-disciplinary professional services in the Railways, Buildings & Infrastructure, Environment & Natural Resources and Roads Sectors.

 

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