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Friday, January 27, 2012

Kilo Goldmine finds high grade iron ore in Congo

Friday, 27 Jan 2012

Canadian junior miner Kilo Goldmines Ltd said it found high grade iron ore at the Asonga Prospect in the Republic of Congo, sending its shares up 14%

The company said Rio Tinto, its joint venture partner for Asonga, drilled five holes in the mine and found 73.5 meters of iron ore containing 66.6% iron.

Kilo said the drill results indicated the area may contain direct shipping iron ore a high grade ore variety that requires less processing and is therefore cheaper to mine.

(Sourced from Thomson Reuters)

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