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- Tombador Iron (TI1) has received first assay results from the ongoing drilling program at its Tombador Hematite Project in Brazil
- Infill drilling was undertaken to define high-grade hematite mineralisation on the top of the Tombador hill where up to 65 per cent iron has been intersected
- Results have been received for the first 17 holes with grades peaking at 68.1 per cent iron
- TI1 will provide updates regarding the program as drilling progress with full results expected in Q2 2021
- Shares in TI1 are up 8.24 per cent on the market and are trading at 9.2 cents
Tombador Iron (TI1) has received first assay results from the ongoing drilling program at its Tombador Hematite Project.
The Tombador Hematite Project lies in Bahia State, Brazil, which is the world’s second-largest exporter of iron ore.
Infill drilling was undertaken to define high-grade hematite mineralisation on the top of the Tombador hill where up to 65 per cent iron has been intersected.
The results will aid TI1 in mine planning by defining the final pit wall in order to plan a decrease of the hill top.
For the final pit design, the company has decided to extend the drill program due to continual near-surface hematite intersections to the south, east and west of the main lode.
Results have been received for the first 17 holes with a best of 21.8 metres at 68.1 per cent iron from 14.2 metres returned.
Other results include 54 metres at 68 per cent iron from surface, 33 metres at 67.5 per cent iron from 17.2 metres, and 34.2 metres at 66.9 per cent iron from 12.6 metres.
TI1 will provide updates regarding the program as drilling progress with full results expected in Q2 2021.
Shares in TI1 are up 8.24 per cent on the market and are trading at 9.2 cents at 1:01 pm AEDT.
