An update from the Australian resource company, Cape Lambert Iron Ore Limited on its Marampa Iron Ore project in Sierra Leone and Cape Lambert South project in Western Australia.
A) Marampa Iron Ore Project (35% interest and Manager).
1. The initial work program at Marampa comprises
2. Tailings drilling and metallurgical test work
3. Evaluation of hard rock potential initially by pitting and trenching, with follow-up drill testing of defined geophysical gravity anomalies
4. Regional evaluation of the exploration license through geological mapping.
Cape Lambert South (100% interest)
1. During the December 2008 quarter, the Company completed an initial drilling program at Cape Lambert South, comprising 14 reverse circulation drill holes for a total advance of 4,107 meters and a single diamond hole.
2. Within the central portion of the magnetic anomaly, magnetite banded-iron formation, with down-hole intervals of between 35 and 73 meters, was logged in 4 RC holes and the diamond hole over a strike length of approximately 1.8km. Assay results and Davis Tube Recovery tests for these intervals and the other drill holes are still pending.
3. The Company had been advised that some results were expected at the end of January2009, but all results remain outstanding due to assaying delays. Cape Lambert continues topress the laboratory for the pending assays.
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