African Iron reports 80% increase in exploration target size at Mayoko, West Africa
Australia-based iron ore development company African Iron Limited (ASX: AKI) is pleased to announce a greater than 80% increase to the aggregate exploration target size at its 80%-owned Mayoko Iron Ore Project, located in the Republic of Congo, West Africa.
The new Mayoko aggregate exploration target size1 is now estimated at 1.6-2.6 billion tonnes of iron ore mineralization with a grade range of 30-65% Fe. Approximately 80% of the target represents primary banded iron formation mineralization at an expected grade of 30-36% Fe. Importantly, the remaining 20% of the target represents potentially enriched near surface iron ore mineralization that may be Direct Shipping Ore and beneficiable DSO at an estimated grade range of 40-65% iron.
Image of a drilling rig at the Mayoko Iron Ore Project, by African Iron Limited.