6 Oct

Updated Resource Statement at Nkout increases High Grade Indicated Saprolite Resource

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 (“MRE6”) for the Nkout Iron Ore Project (“Nkout”), superseding the previous estimate MRE5 which was dated 28 May 2013.

Highlights:

• A 68% increase in total direct shipping ore (“DSO”)/Saprolite Indicated resource to 252 Mt at 43.2%  iron (“Fe”):

  •     - Indicated high-grade resource (Zone 110) increases to 22.2 Mt at 62.57% Fe
  •     - Indicated medium-grade oxidised BIF resource (Zone 120) increases to 105 Mt at 51.06% Fe
  •     - Indicated oxidised banded iron formation (“BIF”) resource (Zone 130) increases to 124.8 Mt at               33.22% Fe

 

• Magnetite BIF Indicated resource confirmed at 1,534.7 Mt at 30.83% Fe

• Total Indicated resource confirmed at 1,786.8 Mt at 32.58% Fe

• Total Inferred resource confirmed at 941.7 Mt at 30.34% Fe

• An increase of 225Mt in total Indicated and Inferred resource to over 2.7 Bt  

Full announcement...