Kalia magnetite tonnage increases by 71%

MINING.COM Staff Writer | June 23, 2011 | 7:06 pm Africa Iron Ore

A drilling program at Bellzone Mining plc’s (AIM:BZM) Kalia Mine in the Republic of Guinea, West Africa, has indicated a 71% increase in the company’s estimate of the magnetite tonnage available from 3.74 billion tonnes to 6.4 billion tonnes, placing Kalia amongst the largest iron ore deposits of its kind in the world.

An 18,000m diamond drilling infill program commenced in Q3 2010 to increase the existing 690 million tonne measured and indicated component of the 3.74 billion tonne magnetite JORC resource. The company is pleased to announce that the work is proceeding to schedule and the programme is on track to deliver an increased M&I JORC magnetite resource in Q3 2011.

Read the full news release here

Bellzone Mining plc is the iron ore and nickel/copper company developing the Kalia Mine Project, the Forecariah JV and the Sadeka nickel/copper project in the Republic of Guinea, West Africa.

The company’s flagship project, the Kalia Mine Project, has a magnetite JORC resource of 3.74 billion tonnes, located on the Kalia I prospect and an initial oxide JORC resource producing 43 million tonnes of 58% product from just 4.3% of the 55km2 of the mapped surface oxides on the Kalia permit. Drilling results and internal estimates indicate that the Kalia Mine Project has the potential to host more than 10 billion tonnes of magnetite and 2 billion tonnes of oxide.