Volta Mining (ASX: VTM) will soon release an update on the Kango iron ore project in Gabon, with the company granted a trading halt by the ASX today.
The company revealed in late November it had entered into a binding Heads of Agreement to acquire the project through the acquisition of a 100% interest in Core Mining Gabon SARL.
The 1,818 square kilometre Kango Iron Ore Project is located around 15 kilometres from the Trans-Gabon Railway, a bulk haulage multi-user railway, that runs about 125 kilometres to Owendo Port, Libreville.
Regional geophysical data has identified a 60 kilometre aeromagnetic anomalous zone, and surface samples taken throughout the licence by Core Mining indicate the presence of iron mineralisation with grades ranging from 39% to 61% iron.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Thursday 17 January.
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