Just a quick post to fill in the time while we are waithing for...

Just a quick post to fill in the time while we are waithing for the pending drill results.


Please find below an overview of Kasbah resources by Hartleys. This just confirms what the majority here already know, but it may be valuable for those that are considering the stock..


KASBAH RESOURCES LIMITED
First Bou El Jaj Drill Results Expected Soon
Kasbah Resources Limited (“Kasbah”, “KAS”, “Company”) commenced with
first-pass exploration drilling at the Bou El Jaj (BLJ) Tin Project in Morocco
back in September, with first results expected in the coming weeks.
Kasbah reached agreement to purchase 100%-interest in the two
exploration permits that make up the BLJ project in late 2011, with the
permits transferred to Kasbah in March 2012. The permits lie within the
south-western extent of a broad zone of tourmaline alteration which contains
strong geochemical signatures for tin, and are located some 15km by road
of the Company’s main Achmmach project.
Kasbah is planning to complete ~5,000m of diamond drilling at BLJ over
four tin prospects, testing for shallow (<200m) tin mineralisation which
potentially could build into a mineable resource extractable via open pit
mining methods and trucked a short distance to processing facilities at
Achmmach (once developed). We see the potential addition of shallow,
good-grade ore from BLJ as having strong benefits for Achmmach,
providing opportunities to increase mill throughputs and/or mill head grades
while adding to project mine life. The prospects to be drilled contain
outcropping high-grade tin mineralisation, part of the Ain Karma Trend.
High-grade Tin Mineralisation at Surface Offers Upside
Kasbah has already defined and mapped outcropping tin mineralisation
(grades up to 17.9% Sn) along 2.1km of strike within prospective
tourmaline-altered host-rocks that extend over 3.5km (part of the Ain Karma
Trend). Based on the exposure of tin mineralisation defined to date, Kasbah
has a conceptual mineralised target (non-JORC) of 2-4Mt at an average
grade of 0.7-1.0% Sn for ~14K-40Kt of contained tin within the BLJ Project.
Four prospects (Gallery Hill, Grand Crete, Ain Karma and Hill 982) will be
drilled in the current drill campaign, with the drilling of Gallery Hill and Grand
Crete now nearing completion. The Company expects to drill the remaining
prospects before the end of the year and currently has 3 diamond rigs on
site. First assay results are expected to be received in November.
Achmmach Infill Drilling Upgrading the Inferred Resource
In addition to the exploration drilling at the BLJ Project, Kasbah continues
with the resource drill-out at Achmmach, which is currently estimated at
14.6Mt at a grade of 0.9% Sn for 135Kt of contained tin, over 1.6km of strike
of the +2km Meknes Trend. The current drill program is focused on the
upgrade of Inferred Resources to Indicated Resources and the Company
still has over 400m of prospective strike along the Meknes Trend to drill-test.
On the current schedule Kasbah expects to release the next resource
update for Achmmach in Q1 CY2013. Results for the next two drill sections
(2810mE and 3300mE) are expected before the end of the month.
Kasbah remains our top pick in the tin space, offering exposure to a nearterm
development project with considerable near-mine and regional
exploration upside for resource growth/mine life extensions. The current tin
price, though volatile has stabilised above $20,000/t and our longer term
view remains unchanged for improved prices. We move to a Speculative
Buy recommendation on Kasbah, with a valuation of 30cps with 12-month
price target of 37cps.

http://www.kasbahresources.com/cms/attachments/827_20121115_Hartleys%20Research%20Note.pdf