Bellzone announces reserve increase in Kalia iron ore project

Monday, 06 September 2010 15:28:38 (GMT+2)

Bellzone Mining Plc, a New Jersey, US-based iron ore miner with iron ore assets in Guinea, West Africa, has announced an increase of resources in its Kalia iron ore project, Guinea.

In the latest results, Bellzone has now defined a maiden inferred iron ore magnetite JORC resource of 3.74 billion mt at its wholly-owned project in Guinea, recording a 56.5 percent increase from 2.4 million mt.  The company believes that there could be more than 13 billion mt of reserves in the area.

Nik Zuks, managing director of Bellzone, commented, "This is another significant value-adding milestone delivered on schedule. These results from the magnetite extension and upgrade clearly demonstrate this resource on Kalia I has more than sufficient iron ore to support the company's current development plans for the next 60 years and clearly indicates the considerable potential for increasing production and mine life from other sections of the strike."

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