It is reported that Obtala Resources, the natural resources investment and Development Company has confirmed the presence of robust vanadiferous titanomagnetite mineralization averaging between 40 and 50 metres in thickness at its Mokopane iron ore project.

Its initial studies have been completed.

Mr Francesco Scolaro Chairman of Obtala said "I am very pleased with the progress and advances in understanding that has been made on the Mokopane Iron Ore Project.”

He said that "The Mokopane Iron Ore deposit is located in one of the most advanced mining regions in the world with the potential to grow into a world class asset. This initial JORC compliant resource is based principally on only one of the four farms held under licence and suggests great upside potential for the project as a whole.”

He added that "These results highlight what an attractive investment this is, and confirms the quality of the Bushveld management team. I look forward to progressing the project further in the coming months and remain confident of the upside potential of this project for our shareholders."

(Sourced from www.stockmarketwire.com)