DRILLING COMMENCED AT KUKUNA
- A follow-up trenching and maiden scout diamond drilling program is now underway at Kukuna.
- Two diamond rigs are currently on site, with a third RC rig due to arrive in August.
Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) (“Cape Lambert” or the "Company”) is pleased to announce that it has commenced follow-up trenching and maiden scout exploration drilling at the Kukuna Iron Ore Project, located in Sierra Leone, West Africa (“Kukuna or “Kukuna Project”) (refer Figure 1).
Kukuna is located 120km northeast of Freetown, in the northwest of Sierra Leone and approximately 70km north of the Company’s Marampa Iron Ore Project (“Marampa”). The exploration licence covers 68km2 and is 100% owned by Sierra Leone company, Pinnacle Group Assets (SL) Limited, which is 100% owned by Pinnacle Group Assets Limited (“Pinnacle”). On 16 June 2011, Cape Lambert increased its interest in Pinnacle to 90.2%.
The Kukuna licence includes Marampa Group rocks, which host the hematite schist iron deposits in the Marampa district to the south. Hematite projects in the Marampa district include the 0.7Bt Marampa project and London Mining plc’s 1Bt Marampa Mine1.
Due to the extensive laterite cover at Kukuna, the Company has carried out geological mapping, ground geophysical surveys and trenching to define hematite schist drill targets. On 21 June 2011, the Company announced highly encouraging results from ground Induced Polarisation (“IP”) geophysical surveys and trench and rock chip sampling, which highlighted priority hematite schist drill targets under laterite cover. Significant results from this work included:
- 32m at 44.9% Fe from trench KUTR2 in the north of the project area;
- 44m at 42.5% Fe from trench KUTR3 in the south of the project area; and
- 24 rock chip samples with an average grade of 41.8% Fe from historic prospecting pits.
The IP surveys indicate that the hematite schist units continue under cover on three main northerly trends.
On the basis of these results the Company has commenced a program of scout drilling to test for hematite schist under cover stepping out from the known trench exposures, and excavation of further trenches covering the IP trends. An initial program of 5,000m of scout diamond and reverse circulation (“RC”) drilling and 1,500m of trenching has been designed to test the width, continuity, structure and grade of the hematite schist targets. Positive results from this program will enable the design of a resource definition drilling program.
Two diamond drilling rigs are now at Kukuna and an RC drilling rig is currently being mobilised to site. Scout diamond drilling and trenching commenced on 14 July 2011. Initial results for the trenching and scout drilling program will become progressively available starting late in the September 2011 quarter.
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