Commencement of Exploration on Granting of Tenure

BASE RESOURCES LIMITED - Commencement of Exploration on Granting of Tenure

PR Newswire

London, June 21

AIM Release 

21 June 2016

BASE RESOURCES LIMITEDCommencement of Exploration on Granting of Tenure

Base Resources Limited (ASX & AIM: BSE) (“Base Resources” or the “Company”) is pleased to advise that it has been granted exploration tenure over a significantly expanded land area surrounding the Company’s Kwale Mineral Sands Operations (“Kwale Operations”) in Kenya and expects to commence a drilling program in the September quarter.

The proposed drilling program follows a successful airborne geophysics program, conducted in 2015, covering the south coast region of Kenya from Mombasa to the Tanzanian border, which identified a series of exploration targets that were subsequently confirmed through ground reconnaissance. The initial program will comprise up to 18,000 metres of aircore drilling.

In addition to an extension of the Company’s Special Prospecting License 173 (“SPL 173”), which now covers an area of 177km2, Base Resources has also applied for an additional SPL covering an area of 136km2 extending south west from SPL 173 towards the Tanzanian border. This license application is advancing through the granting process having been approved by the licensing committee of the Kenyan Ministry of Mining.

With the Kwale Operations consistently performing to plan, the extension of Base Resources’ tenure footprint and commencement of drilling in pursuit of mine life extension represents a notable shift in the Company’s focus and a clear statement of intent.

Base Resources’ Managing Director, Tim Carstens, said “With Kwale at steady state production and having mined 22.2 million tonnes since commissioning in October 2013, we are excited by the prospectivity of the new tenement area and the potential to further extend the mine life of the Kwale Operations.”

ENDS.

CORPORATE PROFILEDirectorsKeith Spence (Non-Executive Chairman)Tim Carstens (Managing Director)Colin Bwye (Executive Director)Sam Willis (Non-Executive Director)Michael Anderson (Non-Executive Director)Michael Stirzaker (Non-Executive Director)Malcolm Macpherson (Non-Executive Director)Company SecretaryChadwick PolettiNOMINATED ADVISOR & BROKERRFC Ambrian LimitedAs Nominated Adviser:Andrew Thomson / Stephen AllenPhone: +61 (0)8 9480 2500As Broker:Jonathan WilliamsPhone: +44 20 3440 6800SHARE REGISTRY: ASXComputershare Investor Services Pty LimitedLevel 11, 172 St Georges TerracePERTH WA 6000Enquiries: 1300 850 505 / +61 (3) 9415 4000www.computershare.com.auSHARE REGISTRY: AIMComputershare Investor Services PLCThe PavilionsBridgwater RoadBRISTOL BS99 6ZZEnquiries: +44 (0) 870 702 0003www.computershare.co.ukAUSTRALIAN MEDIA RELATIONSCannings PurpleAnnette Ellis / Andrew RowellEmail: [email protected] /[email protected]Phone: +61 (0)8 6314 6300UK MEDIA RELATIONSTavistock CommunicationsJos Simson / Emily FentonPhone: +44 (0) 207 920 3150KENYA MEDIA RELATIONSAfricapractice (East Africa)Evelyn Njoroge / James Njuguna/Joan KimaniPhone: +254 (0)20 239 6899Email: [email protected]PRINCIPAL & REGISTERED OFFICELevel 1, 50 Kings Park RoadWest Perth, Western Australia, 6005Email: [email protected]Phone: +61 (0)8 9413 7400Fax: +61 (0)8 9322 8912