Ferrex, the AIM quoted iron ore and manganese development company focused in Africa, has been granted the 309 km2 Ngama exploration licence in Gabon, West Africa which covers the high grade Mebaga iron ore deposit. Direct Shipping Ore (DSO) iron ore has been defined over 1.8 km of strike in previous exploration undertaken by the Bureau de Recherches Géologiques et Minières (BRGM). The Exploration target is 20 Mt @ 60% Fe and a larger, lower grade target of 50 Mt @ 47% Fe. Extensive pitting in the main zone of Mebaga returned intercepts such as:
- 27m @ 58.4% Fe (mineralisation still open at bottom of pit)
- 18.5m @ 57.5% Fe (mineralisation still open at bottom of pit)
- 10.5m @ 61.4% Fe (mineralisation still open at bottom of pit)
Mebaga is well located relative to existing infrastructure – 30 km from a sealed highway, 100 km north of the Trans-Gabon railway and 260 km (in a direct line) from the deep water Port of Owendo.
Ferrex plans to implement a fast-tracked exploration plan targeting the definition of a high grade iron ore resource.
Gabon is a stable, pro-mining country which hosts a number of high grade iron ore deposits including Belinga (1Bt @ 60% Fe).
Ferrex Managing Director Dave Reeves said, “The Mebaga iron ore licence in Gabon has the potential to be transformational for Ferrex, particularly with the presence of high grade DSO iron ore mineralisation on site. In addition, the project is located close to infrastructure, just 30 km from a sealed highway which links directly to existing rail and river for bulk transport options, making the project potentially attractive in terms of future economics. It is our intention to rapidly progress the project up the resource curve, and ultimately to the Bankable Feasibility Study stage, by targeting the known mineralisation and conducting a comprehensive exploration programme over the licence area this year.
“We look forward to reporting on our progress in Gabon, as we advance the project in tandem with our other development assets in Africa with a view to production. These include the Nayega manganese project in Togo which is at the Definitive Feasibility Stage, and Malelane iron ore project in South Africa where a Scoping Study has been completed to build value for shareholders in the mid term.”
Ferrex will have an 82% interest in the Mebaga iron ore project in Gabon through its holding in Gabonese company Ressources Equatoriales SARL. Equatorial holds a granted exploration licence covering an area of 309 km2.
Mebaga is located within an extensive high grade iron ore province which extends from Gabon into the Republic of Congo (ROC) and Cameroon. Deposits in the district include Belinga in Gabon (1,000 Mt @ 60% Fe); Mbalam in Cameroon (775 Mt @ 57% Fe) and Avima in the ROC (690 Mt @ 58% Fe). Importantly, Mebaga is the nearest DSO iron ore project to the Atlantic of any in this prolific iron province.
Iron ore mineralisation in the province is hosted in Archean banded iron formation (BIF) horizons. In Gabon, these rocks belong to the Belinga Supergroup. Gabonese Government geology maps show that BIF within the Mebaga licence area is exposed over a strike length of more than 20 km at widths up to 2 km.
In the early 1960s, the BRGM completed reconnaissance evaluation in the Ngama district and targeted pitting of high grade iron exposures at Mebaga. Ferrex has access to the data generated by the BRGM. A total of 95 pits were excavated, to depths up to 29.4 m below surface, on several iron occurrences. Pitting identified a coherent zone of mineralisation extending along strike for about 1.8 km. Cross sections constructed by the BRGM indicate that mineralisation is interpreted to dip at a shallow to moderate angle and is inferred to be at least 30-35 m thick in places.