Equatorial Resources has announced the 3D and 2D modeling of the detailed high resolution aeromagnetic data collected over the company's 100% owned Mayoko Moussondji Iron Project completed by independent consultants.
Resource Potentials Pty Limited has estimated a global exploration target of between 2.3 and 3.9 billion tonnes' of iron mineralization. Of this 500 to 900 million tonnes represents potentially enriched hematite cap mineralization at an estimated grade of 40% to 65% Fe and 1.8 to 3.0 billion tonnes1 represents primary itabirite mineralization at an expected grade of 30% to 45% Fe.
Mr John Welborn MD & CEO of Equatorial Resources said that "We are extremely pleased by the confirmation that our Mayoko Moussondji Iron Project has the potential to host a very large body of iron mineralization. Most encouraging is the potential for significant tonnage of hematite cap mineralization. This information, following the recent announcement of high grade (61.6%Fe) surface rock chip assay results, reinforces our strategy to focus our future exploration program on the rapid identification of a resource base of high grade DSO sufficient to support a start up project. This would allow Equatorial to take full benefit of our unique infrastructure advantages, existing rail and port access, while we develop the large scale long term potential of the Project."
Previous reconnaissance exploration over the Project area by BRGM in 1956, defined elevated ridges of ferruginous quartzite (itabirite) at Makengui and Lekoumou. Lekoumou has subsequently been drilled by DMC Mining Limited, now Cape Lambert Resources Limited and contains both near surface enriched supergene hematite iron mineralization over primary bedrock itabirite iron mineralization. The previously announced results of Equatorial's airborne geophysics program have identified a potential strike length of more than 46 kilometers.
BRGM described the meta-sedimentary rock formations of the area as appearing to host itabirite iron mineralization. This style of mineralization is typical of West African iron ore resources and generally consists of alternating bands of magnetite and silicate which contain iron grades ranging from 25% to 45% iron. The attraction of West African itabirite ore bodies is the potential they have for low cost beneficiation into a saleable grade iron product.
3D and 2D modeling was undertaken to estimate the thickness and strike length of the magnetic bodies. The modeling required the adoption of a number of assumptions. These include but are not limited to:
1. The strike length of the selected magnetic anomalies represents ore grade itabirite mineralization
2. The depth extent (fixed to 250m) and the width of these magnetic anomalies remain constant over their entire length
3. The depth extent of the potential enriched cap has been calculated as the difference between ground level as defined by the aeromagnetic survey and the depth to the top of the model
4. The specific gravity of the itabirite/enriched hematite is 3.5 tones per cubic meter
5. The magnetic susceptibility of the weathered itabirite/itabirite is 1 SI
The 2D modeling completed has created simple tabular bodies to represent the magnetic sources. These provide reasonable estimates, but will not be accurate to local variations in the geology and its affect on the magnetic response.
Overall, the 2D models compare very well to the 3D inversion and validate the result. The strike length and widths of the 2D models are generally less than the representative 3D inversion wire frame selected and may more accurately represent the true width and length of the actual magnetic source. It should be noted that only the stronger magnetic anomalies at Mavendi and Mbinda West were modeled. As such there remains significant strike extent of low magnetic responses that are not included in the global exploration target estimate.
