Genmin’s Group Exploration Manager, Mathieu Lacorde met with Gabon’s mining administration in Libreville last Friday to provide a technical update of our iron ore assets.
Discussions focused on progress at the Minvoul/Bitam prospect in northern Gabon, and our advanced Baniaka Iron Ore Project in the south-east.
We have completed over 24,000m of diamond and auger drilling in ~1,200 drill holes at Baniaka, delineating Indicated and Inferred Mineral Resources totalling ~258Mt @ 40% Fe.
Workstreams for the Baniaka Preliminary Feasibility Study have commenced. On 30 June 2021, we resumed diamond drilling at Baniaka and signed a contract for an initial 10,000m infill reverse circulation drilling program. The objectives of the RC and diamond drilling are to upgrade existing Inferred Mineral Resources at Bingamba North prospect and the estimation of a maiden Oxide mineral resource at Bandjougoy prospect, both within Baniaka.
The advancement of Baniaka is a pivotal step in developing Gabon’s iron ore industry.