Ferrex has revealed impressive results from its Malelane iron ore project in South Africa and Nayega manganese project in Togo. It said that both are on track to deliver maiden resources in the first and second quarters respectively.

Mr Dave Reeves MD said that at Malelane in addition to high grade intersections such as 17.29m at 59% Fe (61% CaFe), the recent drill programme encountered unexpected high grade mineralisation at depth over 500m away from the historically known high grade mineralisation, and highlights direct shipping ore potential.

At Nayega pitting has confirmed the results of historic exploration and it is the company's belief that ore has the potential to be easily mined and upgraded via a low capex gravity plant.

(Sourced from StockMarketWire.com)