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Zodiac Gold Inc. Announces Adjustment to Bong West Exploration License to Include Additional Iron Ore Targets in Liberia
Vancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - Zodiac Gold Inc. (TSXV: ZAU) ("...
About this update from Zodiac Gold Inc
[{"type":"text","content":"Zodiac Gold Inc. Announces Adjustment to Bong West Exploration License to Include Additional Iron Ore Targets in LiberiaVancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - Zodiac Gold Inc. (TSXV: ZAU) (\"Zodiac Gold\" or the \"Company\"), a West-African gold exploration company, is pleased to announce that a proposed adjustment to the newly granted Bong West license has been granted by Liberia's Ministry of Mines and Energy. The Company requested the change after a data compilation and review revealed a historical inferred mineral resource and iron ore potential along strike to the west of the Bong Mine, owned by China Union (Hong Kong) Mining Co.The Company announced the identification of the historical inferred mineral resource and results of exploration by the United States Geological Survey (USGS) (Geologic, Geophysical, and Mineral Localities Map by Wahl et al., 2007) and then West Peak Iron Limited (\"West Peak Iron\"), in a press release on September 25, 2024. The adjustment to the license increases the historical inferred mineral resources at Bong West from the previously announced 8 million tonnes at 35.91% Fe to 11.1 million tonnes at 36.36% Fe (Table 1). West Peak Iron completed drilling in two of seven target areas (Areas 4 and 6) and delineated historical mineral resources in both areas. Rock chip sampling and trenching by West Peak Iron at the other target areas suggests significant exploration potential exists in the Bong West and Bomi South licenses.Table 1: Historical mineral resource summary (West Peak Iron, 2014)ClassificationTonnes (Mt)Fe %SiO2 %Al2O3 %P %LOI %Total Inferred Area 48.035.9142.953.040.0422.29Total Inferred Area 63.137.5442.001.730.0501.78Total Inferred11.136.3642.742.650.0462.13 Note: 30% Fe lower cut off applied with figures rounded.A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource and Zodiac Gold is not treating the historical estimate as a current mineral resource. Please refer to \"Additional Information\" for further details.David Kol, President & CEO of Zodiac Gold, commented: \"We are pleased to announce the inclusion of additional historical iron ore resources in the Bong West license, further highlighting the significant potential of the Todi Project and strengthening our pipeline of high-priority ta...