Back in May 2007 in an interview,Don Lewis said. Mbarga had 2kl of strike length x 600mt width of massive hematite outcrop. The initial space drilling was on a 400m x 200m grid.(for Bigstar).
The company's development plan required direct shipping ore reserves of 300Mt and Itabirite ore reserves of ~955 Mt. Two to 2.5 billion tonnes of Itabirite would give 955Mt end product.The Itabirite requirement was achieved just at Mbarga to around half the depth of the known depth of Itabirite at Mbarga.
In November 2009 in an interview,Don Lewis said about Nabeba. Our initial drilling program comprises approximately 2,000 metres of diamond core drilling,based on (20) holes drilled to around 100 metres depth.This is targeting to define an initial (100 million tonne inferred Resource) by mid next year (2010.We are looking to place additional rigs onto the deposit as drilling results come to hand. They have drilled 18 holes to date,no.19 is being drilled and no.15 they show no result.
Going by the above statement with two holes going to over 140m deep,they would be close to finding 100 million tonnes at this stage. They are looking to have 2 or 3 rigs drilling at Nabeba soon. That says to me they are looking to secure more then a couple of hundred million tonnes at Nabeba in this drilling campaign.
From samples and drilling 4 holes the UNDF estimated Nabeba to have 84 Mt at +62%Fe.
Don also said at the same time they required clear definition of project scope,costs,product specifications and all relevant approvals.These must all be in place prior to close of financing and commencement of construction.
Another comment was. The selected partners will be actively involved in the project financing to be arranged by Deutsche Bank. The first step is to secure key development partners.These may include strategic off-take partners,constructors and or financiers. The second step is to close out conditions of project financing and subsequent draw-down of funds for commencement of project construction. These tasks involve significant lead times and we are therefore targeting to close out conditions of financing towards the end of 2010. The work outlined will progressively enhance project definition and reduce risk,therefore adding value during the process of negotiations with prospective partners.
To me the cream will be in the Itabirite in the long term. The high grade will pay the set up fees. The Itabirite will be the very long term money earner. UNDF identified 35.8 km of BIF (Itabirite) plus 15 km of BIF to the West of Metzimevin plus 21 km of BIF running over the border into The Congo.That is to start with. All the projects in this area of Cameroon,Gabon and The Congo speak of DSO with massive Itabirite around and below it. At Mbarga the Itabirite has been drilled down to 600 mt deep and has not found the bottom.The planned mine pit at Mbarga is only planned to around 3 to 400mts deep at this stage.
Massive Hematite is not directly identifiable but is associated and coincident with magnetite rich BIF that has the following target characteristics: 1.Intense magnetic anomalies 2.Coincident with discrete hills,and 3.Anomalous geochemical signatures. Any survey should be interpreted for BIF structures. Any BIF structures confirmed should be added to the Detailed Exploration Programme.
In forested areas mapping and trenching should be carried out in conjunction as soil and laterite cover will obscure most of the outcrop.
Don Lewis said on April 16th 2010. We can confirm that a number of parties have visited Cameroon to assess the Project including representatives of Chinese Industry Groups as well as representatives from International Steel Producers,Trading Companies and Mining Majors from other Regions. Very few companies hold resource tonnages of the scale of Mbalam that includes both high grade and benificiable grade Hematite.
Sino of China who are involved in several projects in Cameroon are among the leading traders in China for iron ore,DRI and Rare Earths.Rare Earths were said to have been identified at Metzimevin.
A science report stated that. Itabirite Hematite was preferred by steel mills for use as direct-reduction-grade feed owing to its very low aluminia,phosphorus,and silica content(Mbendi Information Services).
A reply to a post I made in Cameroon said. Mention should also be made of older plans for a timber hauling railway roughly along the alignment of the Mbalam Iron Ore Railway.
Regards Westcott.
SDL Price at posting:
16.5¢ Sentiment: None Disclosure: Held
