Genmin Limited reported an update to the Detrital Iron Deposit (DID) Mineral Resource Estimate (MRE) for the Bandjougoy prospect (DID MRE) at its 100% owned Baniaka iron ore project (Baniaka), located in the Republic of Gabon, central West Africa. The DID MRE has resulted in a new global Mineral Resource Statement for Baniaka (Global MRS). The Bandjougoy DID Resource update was informed by Auger and diamond drilling and has resulted in 100% of the DID MRE now being classified as Indicated. An additional 1.5 million tonnes (Mt) were added to the DID MRE, with iron grade improving marginally from 48.7% to 48.8% Fe. The Bandjougoy Indicated DID MRE now stands at 19.9Mt grading 48.8% Fe. The DID MRE was completed by independent consultants Golder Associates Pty Ltd. (Golder) and is reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (JORC Code). This DID MRE is based on assay results and geological information from 291 Auger drillholes for a total 3,761m (including 57 newly reported holes for 815m), and 35 diamond core drillhole intervals in the DID domain for a total of 291m. Results from the Auger drilling are also reported in this announcement. Results from the 2021 diamond drilling were reported in the Company's ASX announcements dated 23 November 2021, 24 February 2022, and 25 May 2022. Baniaka is divided into 12 major prospects at different levels of maturity. The Baniaka Preliminary Feasibility (PFS) includes Soft Oxide mineral resources from the Bandjougoy and Tsengué prospects and DID mineral resources from Bingamba North, Tsengué, Bandjougoy and Flouflou prospects (collectively PFS Prospects). Although the principal objective of the infill drilling campaign was the classification upgrade in accordance with the JORC Code, an additional 1.5Mt or 8% by tonnage was added to the Resource inventory in comparison to the prior DID MRE reported to the ASX on 21 July 2021. The increase in tonnage is coincident with the area of thickened primary BIF noted in diamond drilling and associated magnetic response between 320 000mE and 321 600mE.
The Company has previously reported the results of pilot scale metallurgical test work (Announcement), completed by independent, Bond Engineering at its Klerksdorp facility in South Africa. The results of three (3) tonnage scale DID samples (MIN06039, andjougoy; REM05647, Bingamba North; and REM05645, Bingamba North), were included in the Announcement. The results of the pilot scale test work for all three (3) DID samples for Lump and Fines products ranged between 63.6% to 65.4% Fe product grades, with mass yields within the range of 55.5% to 65.3%. For the Bandjougoy DID sample (MIN06039), Lump iron grade and mass yield were 64.8% and 27.7% respectively. Similarly for Fines, iron grade and mass yield were 65.2% and 37.6% respectively.