The Conversation (0)
Silver Bull Resources, Inc. (TSX:SVB) was granted renewal of its 2,000 square kilometer Mitzic license by the Ministry of Mines in Gabon for an additional 3 years. Silver Bull also reported results of the work program on the Mitzic License completed over the last 2 years.
As quoted in the press release:
The Mitzic license lies 180km northeast of the capital city of Libreville and is accessed via a paved road directly to site and lies 60km to the north of a functioning railway. In addition to the Mitzic license, Silver Bull also recently renewed its 2,000 square kilometer “Ndjole” license which is highly prospective for gold and manganese.
Mitzic License – Iron Results: A regional reconnaissance work program on the Mitzic license targeting over 70 kilometers of magnetic highs has confirmed the widespread presence of a coarse grained, magnetite rich, Banded Iron Formation “BIF” averaging approximately 40% Fe. Localized supergene and hypogene enrichment in excess of 65% Fe is seen in the field but is thus far poorly constrained. Geological mapping shows the BIF forms a series of topographic highs with up to 300m of relief and has localized evidence of thickening through folding and faulting. The steep dipping nature of the BIF’s also suggests they continue at depth.
Click here to read the Silver Bull Resources (TSX:SVB) press release
Click here to see the Silver Bull Resources (TSX:SVB) profile