Feb 7 2014
Raptor Resources Holdings Inc. (the "Company"), a natural resources company focused on mineral and metal resource acquisition, exploration and development, is pleased to announce that its Zimbabwe affiliate, TAG Minerals Zimbabwe (Private) Ltd. ("TAG-Z"), has acquired the mineral and metal rights to the rest of the Dodge Mine mountain range in Zimbabwe.
The final phase of the Company's expansion plans adds another 248 hectares (612 acres) to its existing lease. Combined, both TAG-Z (Raptor Mine) and Mabwe Minerals (Dodge Mine), the Company's other subsidiary, own the mineral and metal rights across the entire mountain range totaling 481 hectares (1188 acres) stretching across 4.5 kilometers.
To view the latest edition of the RaptorReport Newsletter, which shows the aerial map of both Raptor Mine and Dodge Mine, registration certificates of the added property, and information concerning the nickel concessions, visit http://dtg.fm/RaptorReport.
Raptor Mine was prospected by soil geochemistry and geophysical surveys in 1970 that delineated significant nickel anomalies associated with komatiitic flows. The area is underlain by serpentinized komatiites and serpentinized dunite striking NNE forming more than one differentiated flow. According to Haynes (1983), the gossan lies on the basal contact of the serpentinized dunite, which forms two arms surrounding an eastward plunging anticline. After reviewing initial core drilling data, Haynes, an experienced geologist, suggested that the favorable bottom contact with ferruginous sediments should be the area for further exploration directed towards the base of the westward dipping basal contact.
Trojan Nickel Mine, Zimbabwe's premier nickel mine, is within close proximity to Raptor Mine. Most nickel ores have several recoverable metals creating multiple streams of revenue. The nearby Bindura Smelter and Refinery complex produces high quality nickel cathodes, copper sulphide, and cobalt hydroxide. Their refinery requires a 1.18% nickel content for commercial production.
Key Points From Historical Reports: Raptor Mine
- Partial surface sampling at Raptor Mine yielded nickel content at 1.18% and 1.56%.
- Raptor Mine has similar host rock, nickel mineralization, and modes of occurrence as Trojan Mine.
- The ultra-mafic rock at Raptor Mine lacks more of the carbonate matter and talcose serpentinized dunite compared to Trojan Mine. From a metallurgical point, this offers a great advantage as expensive flotation reagent is not required.
- Raptor Mine nickel mineralization appears in a broad zone 60 meters wide stretching over 1.5 kilometers long.
- Surface nickel mineralization is present in encouraging amounts suggesting the potential for economic extraction at shallow depths (15-to-30 meters deep).
Tapiwa Gurupira, TAG-Z Director, commented, "We have patiently waited for the rest of the mountain range to become available since gravity mapping in 2012 confirmed the continued flow of barite across the entire range, including a number of high density hot spots associated with Volcanic Massive Sulphide (VMS) deposits. With Mabwe Minerals in early stage barite and limestone production on the east side of the mountain range, TAG Minerals will concentrate on developing these gossan deposits on the west side of the mountain range with the intent to work with the Bindura Smelter and Refinery company to utilize their spare capacity."
About Raptor Resources Holdings Inc.
Raptor Resources Holdings Inc. (OTCQB: RRHI) is the parent/holding company of Mabwe Minerals Inc. with a second independently operating subsidiary: TAG Minerals Inc.
Note: A new Raptor Resources website is under construction and soon to be released in conjunction with an updated corporate presentation.
About Mabwe Minerals Inc.
Mabwe Minerals Inc. (OTCQB: MBMI) is a U.S. based natural resources and hard asset company engaged in the mining, logistics and commercial sales of industrial minerals and metals, with first focus on barite and limestone at Dodge Mine. Raptor Resources Holdings owns 90 million shares of Mabwe Minerals or approximately 64% of its issued and outstanding shares of common stock.
To learn more about Mabwe Minerals, visit www.mabweminerals.com
About TAG Minerals Inc.
TAG Minerals Inc. is a U.S. based mineral/metal resource acquisition, exploration and development company targeting viable hard assets, seasoned mining companies along with developing greenfield resources aimed at high value minerals & metals.