Friday, 19 Aug 2011
Iron ore focused explorer Nemex Resources Limited has announced the results of 17 ironstone samples from its Coastal Project in western Guinea.
These samples were collected as part of a staged program to target a regionally extensive ironstone unit across the Nemex licence portfolio. The sample locations were selected from Landsat imagery, which has been interpreted to show the ironstone unit to be a regionally extensive geological unit that outcrops over extensive open plains or bowals as they are locally known.
These samples are from one of the three Coastal Project Licences, the 244 square kilometers Telimele licence, with samples NGX033 and NGX036 collected up to 12 kilometers away in new licence areas to the southwest and south respectively.
The results show iron grades ranging between 53% and 64% (averaging 60.7% Fe) and are consistent with the five ironstone sample results (60% to 63% Fe) that were announced to the ASX on June 6th 2011. These new sample results are considered to be representative of the ironstone unit and confirm that it is regionally significant.
Dr Peter Turner MD of Nemex said that "We are delighted with these results and Nemex has now demonstrated that this ironstone unit is not only a consistently high grade direct shipping ore iron product, but that it appears to cover a very large area. Our strategy now is two fold to explore the other 2,000 square kilometers of our licenses whilst drilling at the Telimele licence."
Nemex initially plans to dig a series of pits to determine the thickness of the ironstone at various sites across the Telimele licence area. Nemex's Rotary Air Blast and Reverse Circulation drill rig is scheduled to depart Perth in August, arriving in Guinea later in the year. Metallurgical test work is planned once the drilling is underway.
Dr Turner said that "Although we are trying to determine what type of rock this represents and the effect weathering has had on iron enrichment, we are happy that it is consistently high grade in iron, occurs at surface and that it sits close to rail and ports."
Iron ore focused explorer Nemex Resources Limited has announced the results of 17 ironstone samples from its Coastal Project in western Guinea.
These samples were collected as part of a staged program to target a regionally extensive ironstone unit across the Nemex licence portfolio. The sample locations were selected from Landsat imagery, which has been interpreted to show the ironstone unit to be a regionally extensive geological unit that outcrops over extensive open plains or bowals as they are locally known.
These samples are from one of the three Coastal Project Licences, the 244 square kilometers Telimele licence, with samples NGX033 and NGX036 collected up to 12 kilometers away in new licence areas to the southwest and south respectively.
The results show iron grades ranging between 53% and 64% (averaging 60.7% Fe) and are consistent with the five ironstone sample results (60% to 63% Fe) that were announced to the ASX on June 6th 2011. These new sample results are considered to be representative of the ironstone unit and confirm that it is regionally significant.
Dr Peter Turner MD of Nemex said that "We are delighted with these results and Nemex has now demonstrated that this ironstone unit is not only a consistently high grade direct shipping ore iron product, but that it appears to cover a very large area. Our strategy now is two fold to explore the other 2,000 square kilometers of our licenses whilst drilling at the Telimele licence."
Nemex initially plans to dig a series of pits to determine the thickness of the ironstone at various sites across the Telimele licence area. Nemex's Rotary Air Blast and Reverse Circulation drill rig is scheduled to depart Perth in August, arriving in Guinea later in the year. Metallurgical test work is planned once the drilling is underway.
Dr Turner said that "Although we are trying to determine what type of rock this represents and the effect weathering has had on iron enrichment, we are happy that it is consistently high grade in iron, occurs at surface and that it sits close to rail and ports."
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