Cape Lambert increases Marampa
THE DRILL SERGEANT: Western Australian-based resources and investment company Cape Lambert Resources has announced a 245 per cent increase to the Mineral Resources at its 100 per cent owned Marampa iron ore project located in Sierra Leone.
The total Indicated and Inferred Mineral Resource now stands at 680 million tonnes at 28.2% iron.
“This is an important milestone for Cape Lambert and the Marampa project as we have now defined a resource inventory capable of supporting a production profile of 10 million tonnes per annum of hematite concentrate for more than 20 years, thereby enabling Cape Lambert to move forward with its plan to sell down its interest and raise money for the project to be further developed,” Cape Lambert executive chairman Tony Sage said in the company’s ASX announcement.
“Cape Lambert has ceased resource drilling at Marampa and is now focused on the commencement of drilling at its 90 per cent owned Kukuna (Sierra Leone) and Sandenia (Guinea) iron ore projects.”
According to the Cape Lambert announcement the updated Mineral Resource represents an increase in tonnage of 245% at similar grades to Marampa’s maiden Mineral Resource, which the company announced in November 2010.
Indicated Mineral Resources now comprise 38% of the total resource due to infill drilling and a consequential increase in geological confidence.
Cape Lambert indicated the updated Mineral Resource for Marampa provides it with a mineral inventory it says can support a production profile of 10 million tonnes per annum of hematite concentrate for more than 20 years.
Total near surface oxide Mineral Resources have increased to 42 million tonnes at 31.7% iron with the highest grade resources located at Matukia (34.8% iron), Rotret (36.8% iron) and Mafuri (31.5% iron).
In the western portion of Mafuri, oxide iron mineralisation varies from 10 metres to 30 metres in thickness with a sub-horizontal to shallow dip to the southwest.
Cape Lambert said this provides a large expanse of near-surface mineralisation with a very low waste to ore stripping ratio.
The company is confident the shallow soft, higher grade oxide hematite Mineral Resources at the Mafuri, Rotret and Matukia deposits represents potential start-up ore with lower mining and processing costs early in mine life.