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
Showing posts with label sundance. Show all posts
Showing posts with label sundance. Show all posts
Thursday, January 22, 2009
Tuesday, January 13, 2009
Cameroon Gives Go-ahead For Iron Ore Terminal
The Cameroon government has given the go-ahead for the development of a new $160-million multiuser iron-ore export terminal in Cameroon to serve a new iron-ore province extending through the West African country to neighbouring Congo and Gabon.
The Australian iron-ore company Sundance Resources said on Tuesday that Cameroon Transport Minister Gounoko Haounaye had announced government approval for the proposed new iron-ore terminal south of the town of the coastal town on Kirbi, which would receive, stockpile, reclaim and load high-grade direct shipping ore (DSO) for export. The port site selected allowed for the development of a 22-m deep open-water berth that could receive 250 000 dry-weight-ton ships.
The $160-million cost, which excluded materials-handling infrastructure and utilities, was $50-million less than the prefeasibility study estimate.
Sundance MD Don Lewis said that Sundance's Cameroon subsidiary CamIron SA had been selected as a core operator within the overall port development, after submitting its proposal to the Cameroon government as part of a consortium comprising the financing arms of Rio Tinto Alcan, the Bolloré group, Angelkique/ SCDP, Petredec/Camship, Vinci/Sogea/Satom and Boskalis International.
The ASX-listed Sundance said that the next steps would include the drawing up of a port master plan to accommodate the traffic and operational requirements of each of the selected operators, the awarding of concession agreements, the development of technical documentation, and the arranging of funding, targeted for September 2009.
Sundance said it was developing Cameroon's Mbalam iron-ore project, which was located close to the Belinga iron-ore project in Gabon that was being developed by the China National Machinery and Equipment Import and Export Corporation.
The Mbalam and Belinga projects formed part of an emerging iron-ore province, which extended to the Congo Republic and Gabon.
The latest announcement followed Sundance's signing of a framework agreement, the delineation of a compliant resource base totalling 2,45-billion tons of DSO quality and itabirite hematite.
Lewis said that the involvement of several of the world's leading resources, logistics and construction groups would enhance the ability to secure competitive financing for the development.
Source: Mining Weekly
The Australian iron-ore company Sundance Resources said on Tuesday that Cameroon Transport Minister Gounoko Haounaye had announced government approval for the proposed new iron-ore terminal south of the town of the coastal town on Kirbi, which would receive, stockpile, reclaim and load high-grade direct shipping ore (DSO) for export. The port site selected allowed for the development of a 22-m deep open-water berth that could receive 250 000 dry-weight-ton ships.
The $160-million cost, which excluded materials-handling infrastructure and utilities, was $50-million less than the prefeasibility study estimate.
Sundance MD Don Lewis said that Sundance's Cameroon subsidiary CamIron SA had been selected as a core operator within the overall port development, after submitting its proposal to the Cameroon government as part of a consortium comprising the financing arms of Rio Tinto Alcan, the Bolloré group, Angelkique/ SCDP, Petredec/Camship, Vinci/Sogea/Satom and Boskalis International.
The ASX-listed Sundance said that the next steps would include the drawing up of a port master plan to accommodate the traffic and operational requirements of each of the selected operators, the awarding of concession agreements, the development of technical documentation, and the arranging of funding, targeted for September 2009.
Sundance said it was developing Cameroon's Mbalam iron-ore project, which was located close to the Belinga iron-ore project in Gabon that was being developed by the China National Machinery and Equipment Import and Export Corporation.
The Mbalam and Belinga projects formed part of an emerging iron-ore province, which extended to the Congo Republic and Gabon.
The latest announcement followed Sundance's signing of a framework agreement, the delineation of a compliant resource base totalling 2,45-billion tons of DSO quality and itabirite hematite.
Lewis said that the involvement of several of the world's leading resources, logistics and construction groups would enhance the ability to secure competitive financing for the development.
Source: Mining Weekly
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