Sundance Resources (ASX: SDL) has reported initial drilling results at the Nabeba Deposit, part of its Mbalam Iron Ore Project in West Africa.
Sundance’s majority-owned subsidiary, Congo Iron SA, is progressing resource definition drilling at the Nabeba Deposit with a total of 19 diamond and RC drill holes completed to date.
The Nabeba Deposit lies 42km south of Sundance’s flagship Mbarga Deposit. Significant thicknesses of High Grade Hematite have been intersected in the majority of holes drilled with iron grades in excess of 60% Fe in most of the significant intersections.
All reported results are based on site Niton XRF analysis. Samples are being freighted to Perth for laboratory testing and reporting of full assay results.
Sundance CEO, Don Lewis, observed that “these initial results at Nabeba are very encouraging. They are generally consistent with previous results reported by BRGM and support the potential to define a substantial resource at Nabeba in line with our Exploration Target of 100 to 250Mt Hematite grading 55% to 65% Fe."
"On the basis of these results the Board of Sundance has approved the purchase of a fourth drill rig with a Schramm RC rig scheduled to be shipped ex the United States this week,” he said.
Drilling has tested a significant area of the mapped hematite on the northern ridge of the Nabeba Deposit, indicating that the mineralisation is extensive.
The company said the next phase of drilling will aim to deliver an initial estimate of JORC-Code compliant resources over this northern ridge. Drilling will then progress to the southern ridge of the deposit which shows similar surface mineralisation.