Raptor Resources Holdings, operating through its two subsidiaries, Mabwe Minerals Inc. and Tag Minerals, is continuing progress on its exploration properties in Zimbabwe. The company's current focus is fast-tracking development at the Dodge Mine in order to capitalize on immediate business opportunities and the worldwide demand for barite.
Located near Shamva, Zimbabwe, Dodge Mine is 123 hectares and, due to its Precambrian-aged location of unique mineral and metal deposits, is classified as an irregular ore body. The property is located in the southern range of the Shamva Gold Belt with massive barite deposits on the property have been indicated by gravity mapping. An ongoing core drilling plan under construction continues in order to support future interpretations of the company's gravity map with volume estimates. The company will also continue to explore their VMS deposits associated with gold, nickel, copper, zinc, iron and lead. When gold is present in VMS deposits, it is often an indicator of gold in the host rock.
A long-term master supplier agreement (NYSE:MSA) has been secured with an established oil and gas drilling sector corporation, representing 3 million metric tons of American Petroleum Institute (NYSEMKT:API) grade barite. WGB Kinsey & Company, a fourth-generation Zimbabwean mining and construction company, will oversee all mining operations at Dodge Mine. As Mabwe Minerals grows its land transportation capacity shipping to the Port of Beira in Mozambique, WGB Kinsey will expand mining production to support new customers that are scheduled to commence the qualification of the company's higher grades of barite.
Recently, a third-party oil and gas drilling sector geologist classified Dodge Mine's hydrothermal barite deposits as "World Class" quality, due to their high percentage content of barium sulfate (BaSO4), which is the key compound in barite with a specific gravity of 4.5 g/cm3. Recent, third party testing by established barite testing facilities, continue to confirm Dodge Mine as a source for additional higher grades of barite that command a price premium. Additional test data confirms a very low percentage of Strontium, an undesirable element in certain market applications as well as favorable brightness tests for the cream of the crop, bright-white barite.
For more information about Raptor Resources Holdings, its subsidiaries and its progress, visit raptorresourcesholdings.com
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