Kogi Iron has established a significant new exploration target at its Agbaja Project in Nigeria.
The ASX-listed company’s new exploration target, based on resource definition and exploration programs since 2011, now totals 1.8 – 3.0 billion tonnes at a grade of 32 – 48% Fe. It also represents a 50% increase in tonnage over the previously reported exploration target of 1.6 – 2.7 billion tonnes at 35-50% Fe.
“The Company has already established a JORC compliant Inferred Mineral Resource of 488Mt which, at a grade of 42.7% iron, ranks as one of the highest grade beneficiable iron ore resources in West Africa,” says Iggy Tan, Kogi’s Managing Director. “Kogi has still only drilled out about 20% of the Agbaja Project area and this new exploration target really reinforces the project scale and potential to develop a long life iron ore operation.”