Australian based iron ore development company Energio Limited has announced an Inferred 488 million tonne maiden JORC mineral resource at its 100% owned Agbaja Iron Ore Project located in Kogi State of Republic of Nigeria.

The Agbaja Project is a shallow, flat lying channel iron deposit uniquely positioned with its proximity to existing, underutilized rail, and port infrastructure. It typically comprises iron bearing nodules in an iron rich matrix. Iron mineralization occurs predominantly as goethite, maghematite and limonite.

Dr Ian Burston non executive chairman of Energio said that "This is a landmark result considering drilling commenced in late October 2011 and in less than 12 months the Company has released its maiden JORC resource, which is very much due to the extraordinary efforts of our team based in Nigeria and the support and assistance of our hosts, the Nigerian government and local Agbaja community."

He added that "With this substantial maiden JORC resource complete, and the considerable opportunity for resource growth, we will now commence a number of development studies as a foundation to preparing a preliminary feasibility study."

Source - Energio Limited

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