CAPE LAMBERT IRON ORE LTD: ASX RELEASE |
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RESOURCE UPDATE UNDERWAY AND FURTHER POSITIVE DRILL
RESULTS RECEIVED AT CAPE LAMBERT
BACKGROUND
Iron ore exploration and development company, Cape Lambert Iron Ore Limited (the “Company” or “Cape Lambert”) (ASX: CFE, AIM: CLIO) is pleased to provide an update on activities related to its 100% owned Cape Lambert iron ore project (the “Project”), located in the Pilbara region, Western Australia
HIGHLIGHTS
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Independent, international mining consultancy Golder Associates has commenced a resource update utilising drill data and assay results received to 31 October
2007.
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Golder is scheduled to complete the resource update in late January 2008.
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A second resource update is scheduled for completion by Golder in the June 2008 quarter based on drill data and assay results received after 31 October 2007.
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Further Davis Tube Recovery (“DTR”) results demonstrate concentrates of saleable quality can be achieved from broad, moderately shallow
magnetite zones within the Northern Extension Area. Significant results include:
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MA415, 72m (from 80m) at an average DTR recovery of 28% mass to concentrate with a concentrate grade of 69% Fe and 3.7% silica,
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MA320, 112m (from 84m) at an average DTR recovery of 34% mass to concentrate with a concentrate grade of 65% Fe and 6.7% silica,
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MA417, 29m (from 43m) at an average DTR recovery of 26% mass to concentrate with a concentrate grade of 69% Fe and 3.7% silica,
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Three drill rigs (1 x Diamond and 2 x reverse circulation (“RC”)) remain working at Cape Lambert. One
of the RC rigs is drill testing the newly discovered, southern most magnetic anomaly with initial positive results.
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Drill metrics to 26 November 2007 are as follows:
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77 RC holes have been completed for an advance of 27,598m. This compares with 69 RC holes for a total advance of 18,052m during 2006,
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5 Diamond metallurgical holes and 8 Diamond tails have been completed for an advance of 4,340m.
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Cape Lambert Iron Ore Ltd
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CODE : CFE.AX |
ISIN : AU000000CFE0 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cape Lambert is a gold and copper exploration company based in . Cape Lambert holds various exploration projects in Australia and in Romania. Its main exploration properties are MT IDA and ST. IVES in Australia and SACU in Romania. Cape Lambert is listed in Australia and in Germany. Its market capitalisation is AU$ 6.5 millions as of today (US$ 5.1 millions, € 4.2 millions). Its stock quote reached its highest recent level on February 07, 2020 at AU$ 2.30, and its lowest recent point on July 17, 2020 at AU$ 0.00. Cape Lambert has 720 689 984 shares outstanding. |