The company said the updated Exploration Target for Marampa is 300-570 million tonnes at 21% – 32% Fe, and an aggregate 1.0-1.25 billion tonnes at 20% – 38% Fe including the July 2011 Mineral Resource.
Exploration Target also includes 6-14 million tonnes at 25% – 37% Fe of shallow, higher grade oxide mineralisation.
The company had previously reported an Exploration Target of 0.7-1.0 billion tonnes which included the Marampa Resource Estimate.
Independent consulting geologists SRK Cardiff UK, appointed by CLR, revised structural model of mineralization and revealed significant additional exploration upside at the Mafuri and Gafal deposits.
According to the company, continued metallurgical testwork at the deposit confirms that premium iron concentrates >65% Fe can be produced with a WHIMS processing circuit.
The Marampa Project hosts a total indicated and inferred mineral resource of 680Mt at 28.2% Fe, which covers the Matukia, Gafal, Mafuri and Rotret deposits and is based on drilling and assaying completed in May last year.
Drilling results from Mafuri confirm the continuation of hematite mineralisation to the west of Mafuri over a strike of 800m, and it remains open along strike and at depth, while drilling at Makambo confirmed the existence of mineralised specular hematite schist at relatively shallow depths.
The company plans to start exploration drilling to increase the Marampa resource inventory, alongside the design of a feasibility resource definition drilling program.
