Drilling hits the mark for exploration target increase

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 15 Aug 2012   Posted by admin


THE exploration target at Cape Lambert’s Marampa iron ore project in Sierra Leone, West Africa, has been increased following the receipt of encouraging drill results.
The new exploration target for the project now stands at between 300 million tonnes and 550mt grading 21 to 32 per cent iron for an aggregate of between 1 billion tonnes and 1.25bt of ore grading 20 to 38 per cent iron, when including the Marampa resource estimate.
The indicated and inferred mineral resource of 680mt grading 28.2 per cent iron covers the Matukia, Gafal, Mafuri and Rotret deposits and is based on drilling and assaying completed up until May 30, 2011.
The exploration target estimates between 230mt and 430mt grading 20 to 35 per cent at the Mafuri, Gafal and  Matukia deposits (including between 6mt and 14mt grading 25 to 37 per cent iron) and between 65mt and 140mt grading 19 to 38 per cent iron at the Makambo, Petifu and Toma prospects.
The drilling results that encouraged the increase included 44m grading 28.8 per cent iron from 114m, 34m grading 38 per cent iron from surface and 50m grading 31.8 per cent iron from 16m.
“I am extremely pleased that the exploration work at Marampa continues to confirm the significant potential of the Marampa project,” Cape Lambert executive chairman Tony Sage said in a statement.
The company previously reported an exploration target of between 700,000mt and 1bt, inclusive of the Marampa resource estimate.
The Marampa project comprises a 305 square kilometre granted exploration licence and is connected to an existing deep water port, ship loader and stockpile area at Pepel by about 80km of rail infrastructure.
Further exploration drilling is being planned to increase the Marampa resource inventory, together with the design of a feasibility resource definition drilling program.
A total of 1438m of diamond and 1168m of reverse circulation drilling and assaying has been completed at the Mafuri deposit, with 6673m drilled at the Makambo deposit.
These results were not included in the Marampa resource estimate.


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