Sundance Resources has reported encouraging results from the high-resolution airborne geophysical survey recently completed over its consolidated iron ore exploration portfolio in Cameroon and the Republic of Congo.
These results are supported by historical drilling data recently obtained by the Company which indicates potential DSO quality mineralisation on the Mt Nabeba Prospect in the Republic of Congo. The airborne geophysical surveys were over selected areas of Exploration Permits 2007-362 and 2007-363 in the Republic of Congo.
Preliminary field mapping indicates the presence of supergene iron mineralisation. The survey data has also confirmed the presence of a significant magnetic response over the Mt Nabeba Prospect, previously identified in exploration undertaken by Congo's Bureau de Recherches Géologiques et Minières (BRGM) in 1986. A 15km linear magnetic anomaly has also been delineated in the Mt Letioukbala locality, to the south of Mt Nabeba.
Both areas have been identified as priority exploration targets. The assessment of the Mt Nabeba Prospect identified the presence of high grade iron mineralisation with iron rich weathered material overlying supergene iron mineralisation. This shows potential outcrop over two areas of the prospect with a strike length of around 2 - 3 km.
The Company has assigned an Exploration Target of 25 to 100 million tonnes of DSO quality mineralisation with a grade range of 60% to 65% Fe at the Mt Nabeba Prospect based on the results reported by the survey.
Sundance’s Managing Director, Don Lewis, said: “These recent results reinforce the scale of prospectivity of the Company’s large landholding in the Republic of Cameroon and the Republic of Congo, highlighting the potential to expand our resource inventory with ongoing exploration.” “While this is early-stage exploration, high-resolution airborne surveys do provide a cost effective means for reconnaissance exploration over our large permit areas,” Mr Lewis said.
“The geophysical survey has generated multiple targets with magnetic signatures similar in scale to the Mbarga Deposit at Mbalam, where we have reported JORC-Code compliant Inferred Resources totalling 2.45 billion tonnes of itabirite and DSO quality hematite over a drilled area of just 10km2,” he said.
Source: Proactive Investors
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