ASX-listed junior Kogi Iron has progressed the metallurgical
testwork associated with the commercialisation of its 100%-owned Agbaja
oolitic iron ore deposits in Kogi State, Nigeria during the quarter
ended 30 June 2018.
Much has been achieved since last October when Kogi Iron completed a
fund raising, the company said in its quarterly activities report.
The testwork programme has advanced significantly, and the company has advised its shareholders of the encouraging results.
The company, having appointed financial advisors to secure debt
financing, has been able to advise of the significant progress that has
been achieved, particularly with the Export Credit Agencies and the
Company appointed RFC Ambrian as its equity and structuring advisors to
assist with securing the equity that will be
The Agbaja Project is located on the Agbaja Plateau in Kogi State,
Nigeria, approximately 200 kilometres from the capital city, Abuja. The
Plateau hosts an extensive, shallow, flat-lying channel iron deposit
(CID) and Kogi Iron has determined a Probable Ore Reserve of 205 million
tonnes at a grade of 45.7% iron (Fe), estimated in accordance with the
JORC (2012) code. Mineral Resources on the plateau are 586 million
tonnes with an in-situ grade of 41.3% and comprise an Indicated Mineral
Resource of 466 million tonnes at 41.4% Fe and an Inferred Mineral
Resource of 120 million tonnes at 41.1% Fe, all estimated in accordance
with the JORC (2012) code.
