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Globe Metals & Mining: Verification successful of very high grade titanium rock chips at Memba

Nov. 13, 2011 7:05 PM ET
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Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We are one of the fastest growing financial media portals in the world. The group also operates hugely successful “investor forums” where three or four companies present to an audience of high net sophisticated investors, fund managers, hedge funds, private client brokers and analysts. Ian Mclelland founded Proactiveinvestors in 2006 as a way to channel his own views on companies small and mid-cap public companies. What started as a hobby quickly turned into a full time job as the website's readership exploded. One2One forums were added later in 2006, and within two years the company had expanded its operations into Canada and Australia. In 2009 the company expanded into Germany and finally into the US in 2010. Proactiveinvestors is now one of the fastest growing global financial media organizations in the world receiving more than one million visitors per month, with investor forums held across the globe on a regular basis.

Globe Metals & Mining (ASX: GBE) has recently entered into a highly prospective titanium-vanadium-iron project joint venture at the Memba project in Mozambique, and has today delivered the good news that the company has confirmed the very high grade titanium grades from rock chips.

Globe's recent due diligence program revealed very high grades of titanium with additional vanadium from rock-chip samples averaging 47% titanium dioxide and 0.38% vanadium oxide - which potentially is a valuable by-product.

Adding some further potential to the joint venture, the mineralised horizon is almost pure ilmenite with the mineralised zone ranging in thickness from 6 to 20 metres, and has a strike length of more than 10 kilometres.

Also, a separate high-grade magnetite zone has been identified with two samples averaging 66.8% iron.

Memba will be a new addition to Globe's early stage Africa project portfolio, which also includes the Machinga rare earth element project in southern Malawi, and the Mt Muambe Flourite/HREE Project in Mozambique.


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