Cardero Resource has reported that additional reverse circulation (RC) drilling results have been obtained from the phase I ferricrete drill program carried out at the Sheini Hills iron project, located in Northeast Ghana.
Maps showing Sheini Property (left) and the Phase I drill program focused in north-central area (right). The drill program focused on diamond drilling of ironstone ridges as well as reverse circulation drilling of surface iron / ferricrete
The company encountered 43.80% iron over 11 m in RC hole 50; 40.68% iron over 9 m in RC hole 52; 43.21% iron over 8 m in RC hole 53; and 42.36% iron over 8 m in RC Hole 57.
Besides drilling haematite ironstones, 127 short RC drill holes have examined surface detrital or ferricrete deposits. Assay results have been received from further 52 RC holes drilled in seven out of eight ferricrete fields, which were drill-tested. The width of ferricrete in these drill holes ranges from 1 to 18 m.
The company has completed the phase I exploration at the Sheini Hills project and has retained SRK Consulting in order to finish a maiden resource calculation report with respect to NI 43-101.
Cardero has identified detrital iron deposits, where deposited ironstone fragments and bedded ironstones in the natural traps were eroded through weathering process. Some deposit areas have naturally cemented as well as loose gravels. Both types of deposits have been identified outside the ironstone edges of the Sheini Hills project. The weathering process breaks the rock units that are regularly impacted by groundwater circulation. Indurated zones like laterite and ferricrete are created under proper conditions.
The quality and grade of the iron particles forms the basis of the value of the deposits’ iron ore potential. Banded-type, high-grade ironstone are present in the ferricrete of the project. All ferricrete deposit areas exist at surface, where overburden does not offer a zero strip ratio considering feasible mining in the future.