| | | July 19, 2005
Bethlehem Drill Program Update
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| | MBMI RESOURCES INC. (MBR-TSXV) "MBMI" reports that a drilling program on its Bethlehem, Philippines nickel laterite property located near the town of Narra, on Palawan Island is well underway with four drill rigs now operating on the property. This first phase program was intended to incorporate test pitting and core drilling approximately 115 holes set on a 100X100 meter grid spacing having an aggregate depth of 1500 meters. The Company is pleased to report that the average hole drilled into the target zone thus far, is 15 meters in depth (approx. 50 % greater than originally anticipated) The first phase program is being immediately expanded by an additional 147 holes in order to accelerate the firm's primary objective of determining the viability of a Direct Shipping Ore (DSO) program at the Bethlehem property.
To date, 58 holes have been completed and samples from 39 holes have so far been submitted to accredited assay labs. All samples are being analyzed on rotation between two Philippine labs, and approximately 15% of the samples are being subjected to random check assays by an Australian lab. Assay results are pending.
The Bethlehem property is 3402 hectares in size, and located adjacent to the Toronto property (Platinum Group, Philippines) which has recently commenced a Direct Shipping Ore nickel operation. Evaluation of historical test pitting and drill results have enabled MBMI to identify primary drilling targets on the property. Previous exploration and drilling activities conducted on the property, has revealed significant (>2% Ni) nickel mineralization on several identified areas.
MBMI has now secured an interest in eight Philippine nickel properties. The Company's primary objective is to become a supplier of high-grade nickel material to the primary nickel consumers in Asia.
For further information:
David G. Tafel - VP Corporate Development
Tel: 604-683-1991; Fax: 604-683-8544; Toll free: 1-877-399-1991
Email: mbr@mbmiresources.com
Website: www.mbmiresources.com
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. |
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