Raptor Resources Holdings Completes Expansion of the Dodge Mine Mountain Range
February 06 2014 - 10:15AM
Marketwired
Raptor Resources Holdings Completes Expansion of the Dodge Mine
Mountain Range
Subsidiary TAG Minerals Acquires Key Nickel Concessions
FREEHOLD, NJ--(Marketwired - Feb 6, 2014) - Raptor Resources
Holdings Inc. (OTCQB: RRHI) (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
1. Partial surface sampling at Raptor Mine yielded nickel
content at 1.18% and 1.56%. 2. Raptor Mine has similar host
rock, nickel mineralization, and modes of occurrence as Trojan
Mine. 3. 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.
4. Raptor Mine nickel mineralization appears in a broad zone
60 meters wide stretching over 1.5 kilometers long. 5. 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.
Notice Regarding Forward-Looking Statements
Statements regarding financial matters in this press release
other than historical facts are "forward-looking statements"
("FLS") within the meaning of section 27A of the Securities Act of
1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. FLS include statements predictive in nature, depending
upon or referring to future events / conditions, including words
like "believes," "anticipates," "intends," "plans," "expects," and
similar expressions. Statements concerning future financial
performance (revenues, earnings, and growth rates), ongoing
business strategies / prospects, and future actions, which may be
provided by management, are also FLS as defined by the Act. The
actual and any future results, performance or achievements of the
Company, expressed or implied, may be materially different and vary
significantly for different reporting periods due to FLS that
involve known and unknown risks and other factors. Management
believes that the assumptions made and expectations reflected in
the FLS are reasonable. There is no assurance that the underlying
assumptions will prove to be correct and the actual future results
may be different from expectations expressed above. These
statements are not guarantees of future performance. Raptor
Resources Holdings Inc. and Mabwe Minerals Inc. have no specific
intention to update these statements.
Contact: J. Louis Schlegel IV Vice President: Business
Development J4@raptorresourcesholdings.com