Cape Lambert Resources Ltd
(ASX:CFE) has announced a threefold increase to its landholdings in the West African country of Sierra Leone.
The resources investment company says it has been granted three new reconnaissance licenses neighboring its wholly owned Marampa iron ore project.
The new licenses represent a 300 per cent boost to Cape Lambert's landholdings, from 305 square kilometres to 1,222 square kilometres.
Cape Lambert says that five more applications for reconnaissance licenses have been lodged with the Ministry of Mineral Resources, and the company expects its land position to increase further to 3,164 square kilometers when granted.
Cape Lambert Resources reported a profit of $72.25 million in the 2010 financial year.
