sdl just on channel seven news, page-3

Sundance is all over the news, I just had this article sent to me.

Remember I stated this is going to get a lot bigger?...see below.

If this proves up as expected and my geo associate has indicated they will do just that, SDL will be valued way over initial broker estimates. Damn I hope he is right, and it is more and more looking like he is.


Sundance reveals 1.2Bt Itabirite resource for Mbalam
Monday, 21 July 2008
Kate Haycock
THE addition of another 1.2 billion tonnes of inferred iron ore resources at the Mbalam iron ore project in Cameroon is good news for Africa-focused explorer Sundance Resources, even if the resource is lower-grade Itabirite hematite grading 39%.

Shares in the Perth-based iron ore junior were last trading at 26.5c, up 6.5c or more than 20% this morning on the back of the new numbers.

The resource – which comes just two months after the revelation of the maiden Mbalam resource of 190.2 million tonnes grading 60% iron – was delineated across a 3km by 3km area to a depth of 350m and is grading 38-39% iron at the Mbarga deposit.

While the grades of the massive resource are akin to magnetite mineralisation, the company says the style of mineralisation is, in fact, Itabirite hematite that will need to be beneficiated if the company is to achieve its goal of an operation exporting 35Mtpa “high-grade product” from Mbalam.

Sundance’s chief executive Don Lewis said today the company’s metallurgical test work to date had indicated the Mbarga deposit style of mineralisation could be upgraded to produce a “high-grade hematite concentrate” via standard iron ore beneficiation.

The test work indicated recoveries of 66% iron concentrate with around 44% weight recovery and what the company said was “very low” phosphorus and alumina content.

The company is eyeing another 400-600Mt of this style of mineralisation at the Mbarga deposit and up to 2.5Bt across the Mbalam project overall.

However, what would also help the company’s prospects of developing Mbalam is more higher-grade, direct shipping ore-quality ore.

The company today added another 10Mt of resources to its initial DSO estimate for Mbalam, which is now at 200Mt grading 60.3% iron, and is hoping to define more DSO-quality material along the western flank of the Mbarga deposit.

Drilling from the area has returned results including 16m at 64% iron from 153m.

At the Metzimevin prospect the company is also starting drilling at an area where hematite had been identified by a historical United Nations development program.

Meanwhile resource extension and in-fill drilling at Mbarga continue."

source: http://www.miningnews.net