3 Mar

Significant Increase in Indicated Resource at Ntem

International Mining & Infrastructure Corporation plc (AIM: IMIC), the company focused on unlocking the value of African iron ore, is pleased to announce an updated Mineral Resource Estimate (“MRE2”) for its 100% owned Ntem Iron Ore Project (“Ntem”) in Cameroon, which supersedes the Maiden Mineral Resource Estimate (MRE1) announced on 7 May 2013. Ntem is situated close to the Cameroon coast and offers the opportunity for early revenues for the Company.

Highlights:

·   Total Mineral Resources increased by 60.8 Mt in total Indicated and Inferred category to 176.3 million tonnes (“Mt”) at an average grade of 35% iron (“Fe”)

·   A substantial increase of 148% in total Indicated Resource, which now stands at 96.9 Mt at 34.92% Fe, improves confidence in the resource

·    Total Inferred Resource confirmed at 79.4 Mt at 35.04 % Fe

·  Davis Tube Recovery metallurgical test work suggests a premium product of average concentrate grade at 70.9% Fe, suitable for direct reduction (“DR”) steel production

·    Potential to further convert within the Mineral Resource Statement from the Inferred category to Indicated and/or Measured classification

 

Full announcement...