The first stage of exploration included mapping, sampling, ground magnetometer surveys, trenching and 500m of scout drilling.
Results from the work completed to date demonstrate significant mineralization at depth and along strike.
The results of trenching on the company’s largest block, Cavaleiro, indicated the presence of significant high grade banded iron formation, which extends at least 2km along a strike of 8km with some of the samples returning 44.66% Fe2O3 across 39m and 51.98% Fe2O3 across 18m.
The next stage of exploration, which includes up to 5000m of core drilling, will delineate the potential size of the mineralized zone in the Cavaleiro block.
Additional mapping, sampling and magnetometer surveys will also be carried out on the other targets in preparation for drilling.
