Nemex Resources has encountered high iron ore mineralisation from the 17 ironstone samples collected at its Coastal project in Guinea, West Africa.
These samples were collected from the 244km² Télimélé licence, as part of a staged programme to target a regionally extensive ironstone unit across the Nemex licence.
The results have shown iron grades ranging between 53% and 64%, and were consistent with the five ironstone sample results, which were announced in June 2011.
Nemex is planning to dig a series of pits to determine the thickness of the ironstone at various sites across the Télimélé licence area, with rotary air blast and reverse circulation drilling.
Nemex Resources' managing director Peter Turner said that the ironstone unit is high-grade direct shipping ore iron product, and covers a very large area.
"Our strategy now is two-fold: to explore the other 2,000km² of our licences whilst drilling at the Télimélé licence," Turner said.