9th Oct 2013 10:49
LONDON (Alliance News) - West African Minerals Corporation Wednesday said independent consultants have provided the company's first mineral resource estimate at the South Djadom site in Cameroon, showing 76.1 million tonnes of resources at 30.3% iron ore with a 25% cut-off grade.
The company said that included within the estimate was a high grade near-surface site of 12.6 million tonnes at 41.6% iron ore with a 35% cut-off grade. The majority of the entire enriched mineralisation was found to be shallower than 20 metres.
West African Minerals said that the South Djadom site is potentially a satellite ore body from the adjacent third party-owned Mbarga deposit.
It is now focussing on further tests of the site and studies of the Binga lease, also in Cameroon, in preparation for any drill testing in 2014.
West African Minerals were trading flat Wednesday at 1.80 pence.
By Tom McIvor; [email protected]; @TomMcIvor1
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