Volta Mining (ASX: VTM) has confirmed the prospectivity of its Kango Iron Ore Project in Gabon for itabirite mineralisation with three large scale magnetic anomalies interpreted to reflect favourable zones for iron mineralisation.
In a report commissioned by the company, SRK Consulting and associates also defined an Exploration Target of between 98 million and 750 million tonnes grading between 30% to 45% iron with possible grades up to 60% in places.
This is based on several phases of unconstrained geophysical modelling and geological interpretations, with the understanding that the distribution of magnetic material may help define the distribution of iron rich zones within the Project area.
While, SRK considers the Kango Iron Ore Project to be early in the exploration cycle, limited drilling and surface sampling has confirmed the presence of itabirite in both magnetite and hematite enriched forms.
Kango is located close to existing infrastructure, being just 25 kilometres from the multi-user Trans–Gabon Railway and about 125 kilometres from the port of Owendo.
Volta noted the large range of the Exploration Target strongly reflects the very long strike length of the observed magnetic feature, which extends over 40 kilometres.
It cautioned that itabirite mineralisation was unlikely to extend continuously along the entirety of this feature and that further drilling and geological mapping would be required in order to better correlate observed magnetic bodies with geological features.
This would include:
- Geophysical surveys including closer spaced aeromagnetic data and possibly gravity data;
- Geological and structural mapping of the itabirite to resolve the true nature and 3D distribution of the observed magnetic features across the licence;
- Collection of surface rock samples for the whole rock iron suite assay and the determination of petrophysical rock properties; and
- About ten drill holes, for a preliminary total of 1,500 metres of drilling, to drill test in the Exploration Target area, and specifically, the clearly elevated magnetic signatures and the presence of itabirite samples within proximity of these zones
Volta has an experienced field team in Gabon and intends to commence ground field work in the coming months.
The collection of airborne data and drilling will be subject to the availability of third party contractors to undertake the work, the results obtained from the geological and structural mapping, and assay results.
Kango will give Volta two established iron ore plays in Gabon, the other being the more advanced Mbombo iron ore project where the company is raising cash to start stage 1 drilling.
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