Ferrex Starts Resource Drilling at Malelane Iron Ore Project

IBTimes reported Ferrex (LON:FRX) has started resource drilling at its Malelane iron ore project in South Africa.

The market news is quoted as saying,

Ferrex said the 2,700m diamond drilling programme was under way with the aim of delineating a maiden JORC compliant resource in the first quarter of 2012.

Drilling will follow-up previously intersected high grade iron ore mineralisation (including 16m at 60% iron (Fe) and 14m at 55% Fe – potential for Direct Shipping Ore.

For the complete market news, click here.