Ferrum Crescent's confidence in the Moonlight iron ore deposit in Limpopo Province in South Africa has increased following interpretation of results from a high resolution airborne magnetic survey.

The survey covered the area of the group's new order mining right at Moonlight, which covers the farms Moonlight, Julietta and Gouda Fontein.

The report highlighted several magnetic targets, including targets that indicate the strong possibility of an extension of the iron ore mineralization within Moonlight Farm itself and a target on Julietta Farm outside of the area previously planned to be drilled.

Mr Vernon Harvey COO of Ferrum Crescent said that "The geophysics results have improved the confidence in the geological model at Moonlight. Accordingly, we are even more convinced that we will be able to add substantially to the magnetite resources at the Project and support a very long mine life."

Source - Stock Market Wire

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