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Ferrex has released promising initial drill results return DSO Grades from its Mebaga iron ore project in Gabon.

Ferrex, the AIM-listed iron ore and manganese development company focused in Africa, has announced the assay results for the first two holes completed from the diamond drilling programme at its 309 sq km Mebaga DSO iron ore project in northern Gabon.

“These exciting first drill results underpin the company’s belief that Mebaga has the potential to host a significant DSO grade iron ore resource,” says Dave Reeves, Ferrex managing director.

“When you combine these drill results with our stated exploration target of 90mt to 150mt of oxide material which has been calculated over 11km of the 20km of the strike length of Mebaga, the very exciting upside potential that this project has to offer soon becomes evident.  Based on regional experience and visual review, we believe that a simple screening/washing process will remove the bulk of any deleterious elements (silica and clay) allowing a premium grade product to be produced.

“Drilling has now finished because the wet season has arrived and we will look at mobilising a small track mounted Reverse Circulation (RC) drill rig for next season’s programme, anticipated H1 2014, which we believe will improve productivity and sample recovery and reduce costs. In addition, we will continue with our regional mapping and look at extending our drill area from the current zone. We will continue to release assay results from the completed drill programme as we receive them.”

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