Charter Pacific Corporation has seen a lift in the Exploration Target on its Kaoua El Khadra Iron Ore project in Mauritania after a report from SEMS Exploration lifted confidence levels.

The new target range for the magnetite bearing banded iron formation has been lifted by 69% to 2.6 billion tonnes to 4.4 billion tonnes at 18% Fe to 39% iron.

The improved exploration target estimates appear to strengthen the economic case for the Kaoua El Khadra Iron Ore project.

Of the 10 sites visited, nine have outcrops of BIF which were sampled and analyzed. The project is now ready for the next phases of exploration, including trenching, which will give information necessary to plan drill holes.

SEMS Exploration has also identified potential for significant hematitic iron ore.

Sites of interest for this type of iron mineralization are in the magnetically quiet parts of the Kaoua El Khadra permit area. Charter Pacific intends to systematically explore these areas to determine the quantity and quality of the hematite potential.
This is an important development in the exploration of Kaoua El Khadra, potentially providing a second style of iron ore mineralization, which may require simpler or no beneficiation.

Source - Charter Pacific Corporation

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