(MENAFN - ProactiveInvestors - Australia) Volta Mining (ASX:VTM) has reprocessed the aeromagnetic data that has led to the identification of six high priority targets and seven new significant iron ore targets at its Gabon project.
The company has also conducted geological site visits to undertake initial mapping and surface rock chip sampling at known historical outcrop locations. A total of 21 surface samples were taken with the rock chip results showing 30%-47% total Fe.
Volta will now identify the exploration target tonnage potential in early 2013 once the surface mapping of all priority targets is complete.
The six high priority targets total about 20 kilometres of anomalous strike length while the seven significant target areas identified total about 40 kilometres with some magnetic anomalies of about 10 kilometres in strike length.
The Gabon government originally acquired the aeromagnetic survey as part of the EDF funded SYSMIN program, with a total of 28,000 line kilometre acquired including magnetic, radiometric and elevation data.
Volta acquired the Mbombo iron ore project in August and the project area covers an area of 3,922 square kilometres and is located adjacent to the world class Belinga iron ore deposit. It is synergistic in terms of operations, exploration and future infrastructure with Volta Mining's to-be-acquired Kango Iron Ore Project covering a total area of 1,818 square kilometers in Gabon.
The company's exploration strategy going forward includes systematically conducting field reconnaissance to include mapping, trenching and surface sampling on the high priority targets and use the information gathered in conjunction with the reprocessed aeromagnetic data to complete an exploration target tonnage potential for the Mbombo project.
It could also reprioritise the target areas if necessary.