Proactive Investors reported that Nemex Resources is on track to deliver a maiden iron ore resource at the Boulere Prospect before the end of this year, which forms part of the Télimélé Project in Guinea, West Africa.

Télimélé is located 60 kilometer from rail, and 150 kilometer from port. The ironstone has consistent chemistry, 50% to 60% iron, very low SiO2 values around 50% hematite goethite, 50% maghemite magnetite.

Highlights from 63 infill drill holes include: 2.5 million at 57.6% Fe (62.1% Ca Fe) from 10 million (BLRC199); 4.5 million at 51% Fe (56% Ca Fe) from 4 million (BLRC165); 4m at 50.5% Fe (56% Ca Fe) from 2.5 million (BLRC203) and 6 million at 50.1% Fe (56.4% Ca Fe) from 3.5 million (BLRC220).

Worth noting for investors is that the remaining 71 drill holes for resource are expected to be announced next month. The average depth of the holes is ten meter, highlighting the shallow nature of the mineralization.

In total nearly 300 holes have been completed in a little over six months, with the project having the potential to generate several products including a direct shipping ore product.

In the meantime Nemex continues to move the prospect forward, with samples for metallurgical testing being collected from seven pits across the resource area.

Source - Proactive Investors

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