14th Jul 2016 09:33
LONDON (Alliance News) - Ferrum Crescent Ltd on Thursday said it has received confirmation and an initial overview from FTSE 100-listed miner Anglo American PLC of historical geological information from exploration work completed in the Moonlight and Julietta licence areas in South Africa.
Miner Ferrum said it approached Anglo American seeking to recover historical exploration data and core samples from the two licence area, which Ferrum now holds, and said it was provided with a preliminary data set overview.
"The company understands that Anglo American is currently in the process of compiling a consolidated list of all the available data held by it which will serve to assist greatly Ferrum with the planning for future delineation of the ore body and its extensions," Ferrum said.
Ferrum said the additional data should enable it to progress the expansion of its current resource estimate for the Moonlight iron ore project cost-effectively.
Shares in Ferrum were down 0.8% at 0.268 pence on Thursday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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