Ferrex’s Mebaga Iron Ore Project Gabon has expanded its resource target to between 630Mt and 1,050 Mt.
Ferrex, and AIM-listed iron-ore and manganese exploration and development company in Africa, has upgraded its exploration target at the Mebaga Direct Shipping Ore (DSO) Iron Ore Project in northern Gabon in early August, based on the available geophysical data and the preliminary geological mapping conducted.
Based on the rock sample assay results and the historical data, around 90-150 Mt of Oxide material containing DSO and Beneficiate Before Shipping Ore (bBSO) materials with grades ranging between 35-65% has been identified.
The previous exploration target for DSO material stood at 20 Mt with a 60% grade of iron from an identified strike of 1.8 km, which has now expanded to 11.65 km. The estimates of primary material stand at 540-900 Mt with iron grades of 25-40%.
At Mebaga, the diamond drilling programme of 3,000 metres (m) has been completed up to 393.15 m; all five holes were found to be intersecting significant iron ore. The drill programme includes completion of 23 holes of depths up to 250 m and its full assay results for the JORC compliant resource in H2 2013 would be made available in the third quarter.
Managing Director Dave Reeves assured of steady progress of the drill programme as well as drill core processing.