|
Sundance 2007 drilling program underway Mbalam province Sundance Resources’ 90%-owned subsidiary, CamIron SA has commenced exploration drilling on an exploration permit that covers the Mbalam Iron Ore Project in the Republic of Cameroon, West Africa. The initial scope of the drilling contract with Western Australian-based Wallis Drilling provides for up to 20,000m of diamond and reverse circulation drilling, with diamond drilling already commenced at the high-grade Mbarga Prospect and a second multi-purpose reverse circulation/diamond rig expected to arrive on site this week. Sundance’s site team has established access to the first 20 drill pads based on a 400m by 200m drill pattern over the Mbarga Prospect. Access is being completed to a potential extension of the Mbarga Prospect, located some 2km northeast of the initial drilling target as identified in previous exploration funded by the United Nations Development Fund (UNDF). The UNDF work, carried out between 1976 and 1984, estimated mineralisation in excess of 800 million tonnes over the permit area held by Sundance, including an estimated hematite resource of 218 million tonnes grading +60% Fe within the Mbarga and Metzimevin Prospects. Diamond drilling at Metzimevin by the UNDF returned high-grade intersections including 63.9m @ 65.7% Fe, with low levels of phosphorus and alumina. Sundance said the key objectives of its 2007 exploration program are to define a JORC compliant Inferred Mineral Resource over the Mbarga Prospect and to confirm the broader potential of the company’s exploration permit to support a +1 billion tonne high-grade hematite resource. Sundance’s exploration team has established an initial exploration grid over a 6sqkm area on and around the Mbarga Prospect and has completed initial surface sampling of the area. The company has airfreighted these surface samples to SGS Johannesburg for analysis. While drilling will focus on the Mbarga Prospect, Sundance is already planning for the exploration program to be extended to other prospects within the permit area. Sundance is currently in negotiations to secure two additional reverse circulation drilling rigs for mobilisation in late 2007. These rigs will provide additional drilling capacity for the extended exploration program. Sundance’s CEO, Don Lewis said the commencement of drilling at Mbarga marked an important milestone for the company. “We now have a very exciting period in front of us, with drilling activities set to quickly ramp up on site. We look forward to reporting drilling results, which will underpin our confidence in the Mbalam Iron Ore Project in the near future,” Mr Lewis said. - 15 Jun 2007 http://www.minebox.com/story.asp?articleId=9601 |
|
| aus der Diskussion: | Stahlaktie |
| Autor (Datum des Eintrages): | neuronet (15.06.07 09:57:33) |
| Beitrag: | 156 von 236 (ID:29934708) |
| Alle Angaben ohne Gewähr © wallstreetONLINE | |