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Nemex Resources is set to deliver its maiden iron ore resource in Guinea as part of the Télimélé Project
The ironstone at the project, which will be held at the Boulere Prospect this year, has a consistent chemistry of between 50 per cent to 60 per cent iron, very low SiO2 values of around 50 per cent hematite goethite and 50 per cent maghemite-magnetite.
The results from 63 infill drill holes include 2.5mn at 57 per cent Fe (62.1 per cent Ca Fe) from 10mn (BLRC199); 4.5mn at 51 per cent Fe (56 per cent Ca Fe) from 4mn (BLRC165); 4mn at 50.5 per cent Fe (56 per cent Ca Fe) from 2.5mn (BLRC203) and 6mn at 50.1 per cent Fe (56.4 per cent Ca Fe) from 3.5mn (BLRC220).
Around 300 holes have been completed in just over six months, with the project capable of generating numerous products including a direct shipping ore product.
The remaining 71 drill holes for resource are expected to be announced next month. The average depth of the holes is 10 metres, highlighting the shallow nature of the mineralization.
Nemex said it would continue to move the prospect further, with samples for metallurgical testing being collected from seven pits across the resource area.