African Minerals’ Tonkolili project exceeds resource target
miningweekly.com
By: Esmarie Swanepoel
19th May 2009
JOHANNESBURG (miningweekly.com) – Aim-listed African Minerals has updated the mineral resource for its Tonkolili iron-ore project, in Sierra Leone, to 5,1-billion tons, at an average grade of 30% iron, delivering growth in tonnage and grade from the previously reported figures of 4,7-billion tons, at an average grade of 29,9% iron.
This exceeded the company's target mineral resource of 5-billion tons for the current phase of development, with significant scope to grow the mineral resource at depth, and along strike.
African Minerals executive chairperson Frank Timis said that the Tonkolili project currently had the largest reported iron-ore magnetite resource on the African continent.
He added that SRK had confirmed that the project had the potential for a total resource of ten-billion tons of magnetite following further exploration at depth and along strike.
African Minerals had put in place an executive management team, led by CEO Alan Watling, to develop the project.
“With access to one of the African continents largest deep-water ports, which will ultimately accommodate Cape-sized vessels, we have the potential to develop what I believe will be a leading iron-ore operation on the world stage, serving the US, European, and Chinese markets, and competing with globally recognised industry players," Timis said in a statement.
Recent metallurgical test work had indicated that the Tonkolili iron-ore was upgradeable to a high quality concentrate grading, in excess of 68% iron, at a mass recovery of 30%, with impurities at levels less than 4,5% silicon dioxide, 0,6% aluminium oxide, and 0,01% phosphorus.
A significant thickness and strike extent of hematite mineralisation comprised hematite cap and oxidised transition zone overlaid the primary magnetite resources at Tonkolili.
“Exploration to date suggests that this may comprise of the order of 800-million tons of material over Numbara, Simbili and Marampon alone. The principal focus of ongoing work is to define zones of high-grade hematite within the above, preliminary metallurgical test work having already indicated that these should be amenable to upgrading to a saleable product.”
The company reported that it continued to expedite a comprehensive metallurgical programme to assess the amenability of this material for product generation to provide early cash flow on commencement of production.
Additional drilling and geological modelling to enable the preparation of a joint ore reserves committee compliant mineral resource for these zones was also under way. |
