Cape Lambert Iron Ore set to complete survey work in Australia
Thursday, November 27, 2008
Australian based iron ore company, Cape Lambert Iron Ore is making progress on drill testing at its Cape Lambert South project, which is located in the coastal Pilbara region of Western Australia.
The initial drilling programme has been designed to confirm the presence and extent of magnetite iron mineralisation and comprises 19 reverse circulation and two diamond holes. The drilling is expected to be completed during December and results available two months after that.
Elsewhere, it said it was pleased that court action between its partner in Sierra Leone, African Minerals, and London Mining had been settled.
In October CLIO agreed a deal with African Minerals to play a major role in the development of African’s iron ore project at Marampa. The company has been granted an exclusive option to acquire the Marampa Project for US$200 million, less the initial costs.
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