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Nemex Resources identifies DSO iron ore at Coastal Project in West Africa

Nemex Resources identifies DSO iron ore at Coastal Project in West Africa

Nemex Resources (ASX: NXR) has identified extensive iron ore mineralisation from 17 ironstone samples collected at its Coastal Project in Guinea, West Africa.

Results average 60.7% iron (FE) and the ironstone unit is flat-lying, freely outcropping and covers open plain areas, making targeting easy. Also, the mineralisation contains an in-situ direct shipping ore (DSO) product.

Importantly, two Government-owned rail lines are situated within 60 kilometres of the project site and could link the project to one of two ports if Nemex was to develop the project.

The company is planning pitting and drilling to determine ironstone thickness over the project and a drill rig has been purchased and is ready for export to Guinea.

These samples were collected as part of a staged program to target a regionally extensive ironstone unit across the Nemex licence portfolio and are considered to be regionally significant.

Dr Peter Turner, Nemex’s managing director, said “we are delighted with these results and Nemex has now demonstrated that this ironstone unit is not only a consistently high-grade direct shipping ore (DSO) iron product, but that it appears to cover a very large area.

“Our strategy now is two-fold: to explore the other 2,000 square kilometres of our licences whilst drilling at the Télimélé licence.”

Nemex initially plans to dig a series of pits to determine the thickness of the ironstone at various sites across the Télimélé licence area. In addition, metallurgical testwork is planned once the drilling is underway.

Nemex is earning an 85% interest in the Coastal Project.

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Nemex Resources Timeline

Newswire
October 15 2015
Newswire
June 05 2015

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