- Tombador Iron (TI1) updates its JORC mineral resource estimate following the 2020/2021 infill drilling program
- The mineral resource comprises 8.9 million tonnes of high grade direct ship ore (DSO) hematite and 39.24 million tonnes of itabirites and talus
- A 12 per cent increase in the high-grade DSO resources has been found compared to reported resources
- The orebody remains open to both the north-east and south-east, which Tombador Iron expects to explore in future drill programs
- Tombador Iron last traded at 3.3 cents on December 23
Tombador Iron (TI1) updates its JORC mineral resource estimate following the 2020/2021 infill drilling program at itsr iron ore project in Bahia State, Brazil.
The mineral resource is comprised of 8.9 million tonnes of high-grade direct ship ore (DSO) hematite and 39.24 million tonnes of itabirites and talus.
A 12 per cent increase has been found in the estimated high-grade DSO resources relative to the prior reported resources.
The orebody remains open to both the north-east and south-east which Tombador Iron expects to explore in future drill programs.
Consultant Group GE21 performed the mineral resource estimate.
Tombador CEO Gabriel Oliva said it was pleasing that the drilling campaign identified talus and itabirites resources that have the potential to be beneficiated into high-grade ore.
“It is pleasing that the results of the recent drilling campaign have confirmed the quality and quantity of the high-grade DSO mineral resource [and] that the drilling campaign identified talus and itabirites resources that have the potential to be beneficiated into high grade ore, and which is the subject of our current beneficiation study,” she said.
Tombador Iron is studying the amenability of beneficiating talus and itabirites.
Tombador Iron last traded at 3.3 cents on December 23.