Cardero Resource has reported that it has received preliminary drilling results from the phase I program carried out at its Sheini Hills Iron Project located in Ghana.
Thick iron mineralization was intersected from 1 to 7 drill holes along with separate ironstone horizons for up to a width of 53 m. The company has intersected 45.6% iron over 30.2 m and the average grade of all the drill holes is 36.2%. The composition of ironstone includes more amounts of haematite and small amounts of magnetite.
The company has drilled 30 holes and has obtained the results for the initial 7 drill holes. Thicker iron mineralization has been encountered by drilling towards the northern part of this segment, which also intersected 125 m width from surface.
Cardero’s phase I exploration program which is being carrying out at the project is focusing on two main types of iron deposits containing haematite, namely surface haematite ferricretes and outcropping haematite ironstones.
The company is conducting a multi-faceted exploration in order to calculate a preliminary resource estimate for a portion of the Sheini deposit. A strike of around 50 km long covers the Sheini prospecting licenses and is measured from the northern part towards the south. The present work program includes diamond drilling, aerial geophysics, reverse circulation drill program, geotechnical and metallurgical testing.
Cardero has carried out a 3,500 line-km aerial geophysical survey. The consulting geophysicist of the company will complete detailed interpretation and modeling to discover any potential direct shipping ore.
Source: http://www.cardero.com/
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