Lemur Resources - Zaaiplaats Tin Acquisition

RNS Number : 6258H

Bushveld Minerals Limited

17 March 2015

 



17 March 2015

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Lemur Resources - Zaaiplaats Tin Acquisition

HIGHLIGHTS

·      Lemur acquires Zaaiplaats tin and aggregate tailings project in Limpopo Province, South Africa;

·      Strategically located surface rights for future mine developments in the area; and

·      Significant resource upside for evaluation, with potential for early, low cost production.

Bushveld Minerals (AIM: BMN), a diversified mineral development company with projects in Africa, notes the Australian Stock Exchange announcement ("ASX Announcement") released today by Lemur Resources ("Lemur"), titled Lemur Acquires Zaaiplaats Tin Project. Bushveld has a controlling 58.46% interest in Lemur.

Lemur has executed a binding agreement to acquire 99.1% of Zaaiplaats Mining Proprietary Limited, a company incorporated in South Africa and the registered owner of two properties, namely the Remaining Extent of Portion 25 of the farm Gronfontein 227 KR and Portion 5 of the farm Roodepoort 222 KR, both located in the Limpopo Province of South Africa.

The properties are in a known mining district where various mine project expansion and development work is taking place on the platreef, namely Amplats' Mogalakwena open-pit and Ivanplats' Platreef project, as well as Bushveld's own Mokopane Tin Project focussed on the Groenfontein and separate Zaaiplaats hard rock target.

The ASX Announcement may be viewed in full here:

http://www.asx.com.au/asxpdf/20150317/pdf/42xbhs45ss5nzy.pdf 

Contact

For further information on Bushveld please visit http://www.bushveldminerals.com  or contact:

Bushveld Minerals Fortune Mojapelo	[phone]
Strand Hanson Limited Andrew Emmott / James Harris Warren Pearce / Scott McGregor	[phone] [phone]
Brandon Hill Capital Jonathan Evans	[phone]
Tavistock Jos Simson/ Nuala Gallagher	[phone]
Tielle Communications Stéphanie Leclercq	[phone]

- ENDS -

Notes to the editor

Bushveld Minerals Limited is a mineral development company with a portfolio of vanadium-and titanium bearing iron ore and tin assets in Southern Africa.

The Company owns the Bushveld Vanadium Project, Bushveld Iron Ore Project and Mokopane Tin Project, located on the northern limb of the Bushveld Complex, South Africa. In addition, Bushveld has a controlling interest in Lemur Resources (ASX: LMR), which owns the Imaloto coal project in Madagascar.

Bushveld was admitted to the AIM of the London Stock Exchange in March 2012.

 

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