80% increase in target size

80% INCREASE IN AGGREGATE EXPLORATION TARGET SIZE

1.6 TO 2.6 BILLION TONNES AT 30-65% Fe1
Key Points:

?h Mayoko aggregate exploration target size increase of greater than 80% to 1.6 to 2.6Bt at 30-65% Fe.
?h Approximately 20% (320-520 million tonnes at 40-65% Fe) represents potential DSO and bDSO material.
?h More than 20km of lower order magnetic anomalies identified but not included in the new target size, which may represent DSO and bDSO style targets.
?h The largest target comprises two parallel magnetic anomalies that extend north from known BIF mineralisation at M??Binda over a combined 16km strike length.
?h Importantly, the new iron ore exploration targets occur to the north of the main prospect at Mt Lekoumou and closely parallel the nearby, underutilised heavy haulage railway conferring a transport and cost advantage.
?h Recent rock chip sampling from the area west of M??Binda returned assays of 37-41% Fe with low levels of deleterious elements.