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Mebaga Iron Gabon - DSO Drill Results
Mebaga Iron Gabon - DSO Drill Results.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3423U Ferrex PLC 29 November 2013 \n \n\nFerrex plc / Index: AIM / Epic: FRX / Sector: Mining\n29 November 2013\nFerrex plc ('Ferrex' or 'the Company')\nInitial Drill Results Return DSO Grades from Mebaga Iron Ore Project in Gabon\n \nFerrex plc, the AIM quoted iron ore and manganese development company focused in Africa, is pleased to announce further assay results from the diamond drilling campaign recently completed at its 309 sq km Mebaga DSO Iron Ore Project in northern Gabon. Results are listed in Table 1.\n \nOverview\n· All four holes intersected mineralisation which returned DSO* grades and generally returned low levels of deleterious elements\n· Best intercepts were returned in holes NGDH004, NGDH0061:\no 23.05m @ 56.5% Fe from 6.1m in NGDH004\no 13.8m @ 60.2% Fe from 12.4m in NGDH006\n· These latest assay results add to the previously reported results of:\no 25.8m @ 57.8% Fe from surface in NGDH002\no 37.76m @ 53.4% Fe from 10.44m in NGDH003\n· Exploration Target2 of 90-150Mt DSO and bBSO* oxide material grading 35 to 65% Fe (includes 20Mt @ 60% Fe in the area currently being drilled) and 540-900Mt primary (fresh) material grading 25 to 40% Fe\n· Excellent infrastructure in place - 30km from a sealed highway, 100km north of the Trans-Gabon railway\n \nFerrex Managing Director Mr. Dave Reeves said, \"These positive drill results, in addition to those reported previously, underpin our belief that Mebaga, which has established infrastructure in place, has the potential to host a significant DSO grade iron ore deposit. Results for hole NGDH008, which based on geological logging is expected to return an intercept similar to hole NGD002, are due to be received in the next 10 days. Importantly, our resource drill programme has so far focussed on only 1km of a 20 km strike; with this in mind, and based on the quality of the grades returned to date, we are confident that this asset holds significant upside potential to deliver value to shareholders.\"\n \nFurther Information\n \nThe drill programme comprised nine holes (including one that had to be abandoned at a shallow depth because of drilling...