African iron ore explorer and developer, Genmin Limited (ASX: GEN), is pleased to report an update to the Detrital Iron Deposit (DID) Mineral Resource Estimate (MRE) for the Bandjougoy prospect (DID MRE) at its 100% owned Baniaka iron ore project, located in the Republic of Gabon, central West Africa.
The DID MRE has resulted in a new global Mineral Resource Statement for Baniaka (Global MRS).
Highlights:
- DID Mineral Resource at Bandjougoy fully converted to Indicated, following infill drilling campaign
- Resource size increased by 1.5 million tonnes to 20 million tonnes
- Surface accumulations of DID Mineral Resources at Bandjougoy to form the starter mining area at Baniaka
- Previous pilot scale metallurgical test work on Bandjougoy DID produced high grade Lump (64.8% Fe) and Fines (65.2% Fe) products at a combined mass yield of 65.3%
- All DID drill assays now received, and Resource updates for Flouflou and Bingamba North prospects to follow
Bandjougoy is central to our plan to develop Baniaka and achieving 100% Indicated classification, which enables the estimation of Ore Reserves, is a major step forward,” Managing Director and CEO, Joe Ariti, said.
“Bandjougoy has surface accumulations of DID mineralisation over broad extents providing immediate mining access without the burden of pre-stripping large volumes of waste. In addition, pilot scale metallurgical test work has shown it produces 65% Fe Lump and Fines products with the processing flowsheet designed for Baniaka.
“The near term will also see Mineral Resource updates for Flouflou and Bingamba North, which along with Bandjougoy and Tsengué, form the DID Mineral Resources included in the Baniaka preliminary feasibility study.”
The Bandjougoy DID Resource update was informed by Auger and diamond drilling and has resulted in 100% of the DID MRE now being classified as Indicated.
An additional 1.5 million tonnes (Mt) were added to the DID MRE, with iron grade improving marginally from 48.7% to 48.8% Fe.
The Bandjougoy Indicated DID MRE now stands at 19.9Mt grading 48.8% Fe.
The DID MRE was completed by independent consultants Golder Associates Pty Ltd (Golder) and is reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.
This DID MRE is based on assay results and geological information from 291 Auger drillholes for a total 3,761m (including 57 newly reported holes for 815m), and 35 diamond core drillhole intervals
Baniaka is divided into 12 major prospects at different levels of maturity. The Baniaka Preliminary Feasibility (PFS) includes Soft Oxide mineral resources from the Bandjougoy and Tsengué prospects and DID mineral resources from Bingamba North, Tsengué, Bandjougoy and Flouflou prospects.
