NABOOM
CHROME MINE
Bauba acquired 74% shareholding in Naboom Mining Company Proprietary Limited (“Naboom”), in November 2023; the holder of the Naboom approved Mining Right.
Naboom has mineral rights for various minerals, including chrome ore and PGMs.
Requirements such as the SLP and Mining Charter are being implemented and will be actioned accordingly.
MINERAL RIGHTS
Naboom is the holder of a mining right that was granted in August 2019 (LP198MR), stakeholders have been engaged with site establishment and mining activities projected to commence in the fourth quarter of FY25.
GEOLOGY
The Bushveld Complex in this region features steeply south-dipping Critical and Marginal Zone rocks that unconformably overlie the Transvaal sediments to the north. The area includes sub-cropping units of the Lower and Upper Critical Zones.
These Zones comprise: dunite, harzburgite, pyroxenite, norite, and anorthosite assemblages, separated by the MG2 chromitite seam.
The project hosts the Middle Group Chromitites (MG0 – MG4B) of the economic Critical Zone in the Bushveld Complex, including 11 chromitite seams, being: MG0, MG1, MG2A, MG2B, MG2C, MG3, MG4_0, MG4_0A, MG4, MG4A, and MG4B.
Exploration over a strike length of 4 km indicates that the mineralised zone strikes WSW-ENE and dips steeply towards the SSE at about 65°, likely influenced by the Thabazimbi-Murchison Lineament (TML), a significant regional structural discontinuity. The region exhibits several north-south trending faults that have influenced the formation and distribution of chromitite seams.
RESOURCES
As of 2024, the Mineral Resources for Naboom totals 32.75 Mt, with an average grade of 34.28% Cr2O3 and 1.94 g/t 4E PGE.
The Mineral Reserves totals 5.82 Mt, with an average grade of 32.52% Cr2O3 and 2.03 g/t 4E PGE.
FUTURE PLANS
A similar co-product business model will be followed, as currently modelled through Bauba’s Kookfontein Project, producing both metallurgical chrome concentrate and PGM ounces.
The development of this project will be rolled out in a sustainable manner taking into consideration Bauba Resources’ production profile and available financing for capital investment.