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Cameroon,Congo Peoples Republic of : SUNDANCE boosts iron ore reserve in AFRICA.

Sundance Resources' high grade hematite ore reserves at the Mbalam-Nabeba iron ore project in Africa has been increased by 24% to reach 436.3 million tonnes at 62.6% iron.

This boost in the ore reserve will enable the Phase I life of a decade to be extended.

Phase II is underpinned by further resources of 2.3 billion of itabirite hematite at 28% iron at Mbalam and 1.7 billion tonnes at 33.9% iron at Nabeba.

Additionally, there is major potential to expand the project further with several drilling targets identified in both Cameroon and the Republic of Congo.

The boost in ore reserve is based on the existing inventory of 775.4 million tonnes of high grade hematite resource that incorporates an Indicated Resource of 748 million tonnes, which accounts for a 58% conversion.

The ore reserves were upped following further drilling as well as reinterpretation of the chief Nabeba and Mbarga deposits based on drilling information.

The resources also received a boost due to the addition of the Nabeba Northwest deposit, which holds an Indicated Resource of 50.3 million tonnes at 52.8% iron and the Nabeba South deposit, which has an Indicated Resource of 9.9 million tonnes at 57.3% iron.

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Publication:Mena Report
Date:Dec 27, 2012
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