Genmin confirms scale and continuity of Bandjougoy iron ore prospect

Iron ore explorer and developer Genmin (ASX: GEN) has confirmed the scale and continuity of mineralisation at the Bandjougoy prospect within the Baniaka project in central West Africa.

A significant thickening of iron mineralisation to the west together with Bandjougoy’s suitable geometry has validated the potential for a large-scale, open pit operation.

The results follow the completion of eight diamond holes for 1,027.5m across three sections of an interpreted 800m strike extent through the centre and west of the prospect.

All holes hit in-situ oxide and primary banded iron formation (BIF) mineralisation at down hole depths forecast during the planning stages.

Detrital iron deposit (DID) mineralisation was also intercepted in holes that were collared in areas with surface projection of the BIF.

Best assays

Key oxide results were 49.5m at 45% iron from 10.5m; 48.5m at 38.2% iron from 16.5m; 61.1m at 47.9% iron from 6.4m; 18.2m at 53.8% iron from 8.3m and 52.2m at 43.3% from 30.5m; and 57.5m at 45% from 7.8m.

Best DID results were 6.5m at 52.7% iron from 4m; 12.3m at 44.8% from 4.3m; 11.2m at 51.1% from 3.4m; 8.3m at 52.5% from surface; and 7.8m at 55.6% from surface.

Significant intercepts were also noted in the primary BIF including 78.3m at 33.6% iron from 65m; 42.3m at 35.9% from 50.9m and 38.1m at 34.2% from 95.5m; and 79.8m at 34.4% from 61m.

Starter location

Managing director and chief executive officer Joe Ariti said the “excellent geological continuity” would provide an ideal starter location for open pit mining at Baniaka.

“Oxide thicknesses in this area are up to 65m beneath the existing detrital iron mineral resource, validating our strategy to centre mine infrastructure for Baniaka adjacent to Bandjougoy, as it is likely to form the mainstay of initial activities,” he said.

“Remaining assays are expected in the coming weeks and will trigger the commencement of our maiden oxide mineral resource estimate, which will increase Baniaka’s inventory and provide additional soft oxide material for production of a pellet feed product.”

Pellets are a greener feedstock for blast furnace iron making, as they do not require sintering.

As China’s steelmaking industry moves towards decarbonisation, Mr Ariti said he would expect to see growth in regional pellet demand.

Largest target

With a strike length of 4.4km, Bandjougoy is the single largest target for oxide mineralisation at Baniaka without an oxide mineral resource.

It has an in-situ oxide exploration target of between 67 million tonnes and 124Mt grading between 35% and 49% iron.