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- African iron ore explorer and developer Genmin (GEN) is set to undertake a diamond drilling program at its Baniaka iron ore project in Africa
- Drilling will be carried out by Boart Longyear and work is set to begin in late June and take two months to complete
- Work will be undertaken at the Bandjougoy prospect and will focus on shallow oxide iron mineralisation below the iron deposits
- Genmin has previously drilled 12 diamond holes at Bandjougoy with work confirming the presence of oxide and primary iron mineralisation
- Once received, Genmin will use the results to support an upcoming mineral resource which will form part of the feasibility study
- Genmin has ended the day in the grey with shares trading at 28.5 cents
African iron ore explorer and developer Genmin (GEN) is set to undertake a diamond drilling program at its Baniaka iron ore project.
Located in the Republic of Gabon in central West Africa, the Baniaka project is Genmin’s most advanced project and has defined 85 kilometres of iron mineralisation.
It spans a total area of 881 square kilometres and has been divided into 17 prospects.
Drilling will be carried out by Boart Longyear and work is set to begin in late June and take two months to complete.
Work will be undertaken at the Bandjougoy prospect and will focus on shallow oxide iron mineralisation below the iron deposits.
Genmin has previously drilled 12 diamond holes, totalling 1186 metres, at Bandjougoy with work confirming the presence of oxide and primary iron mineralisation.
Once received, Genmin will use the results to support an upcoming mineral resource which will form part of the feasibility study.
“The commencement of diamond drilling is another important step in advancing our 2021 work program and the feasibility assessment on Baniaka,” Managing Director Joe Ariti said.
“The diamond and infill RC drilling programs have been designed to enable the large Bandjougoy prospect, which currently has no mineral resource, to be included in the Baniaka preliminary feasibility study.”
Genmin is also in the draft stage of planning a 10,000-metre RC drilling program at the Bandjougoy, Bingamba North and Tsengué prospects.
The company has ended the day in the grey with shares trading at 28.5 cents and has a market cap of $114.1 million.
