15th Jan 2014 11:33
LONDON (Alliance News) - West African Minerals Corporation Wednesday announced its first inferred mineral resource estimate at the Binga licence in Cameroon.
The mining company said the site holds 30.5 million tonnes of ore at 29.7% iron with a 25% iron cut-off grade, representing infill drilling of 5,806 metres across three major blocks.
West African Minerals said that drilling at the site found mineralisation intersections from the surface to vertical depths of roughly 50 metres and there is potential to increase the length of the resource by roughly 20 kilometres.
The company said further metallurgical testing is planned for the first quarter 2014.
West African Minerals shares were up 2.6% to 10.00 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
West African Minerals