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Gabon extends Genmin’s exploration licenses

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Genmin’s Baniaka iron ore project in Gabon. Image credit: Genmin

Gabon extends Genmin’s exploration licenses

The Ministry of Mines in Gabon has extended Australian listed Genmin’s Baniaka and Bakoumba exploration licenses for another six years.

Genmin is an African iron ore exploration and development company with a pipeline of projects in Gabon. The company has a 100% interest in three projects comprising six granted exploration licences covering approximately 5,270km2.

Genmin’s Baniaka and Bakoumba projects are in south-east Gabon near the provincial city of Franceville. Baniaka and Bakoumba represent a potential iron ore hub with 2,445km2 of landholding and 121km of iron mineralised strike with only 13% drill tested with diamond drilling.

The Baniaka exploration licence (774km2) and Baniaka West exploration licence (107km2) comprise the Baniaka iron ore project (Baniaka), which hosts 85km of iron mineralised strike with only 18% of the strike included in a 700 million tonne JORC compliant iron ore Mineral Resource.

According to Joe Ariti, MD and CEO of Genmin, the detrital iron deposits and soft oxide mineral resources at four and two prospects respectively (out of a total of 12 prospect areas) are the focus of the Preliminary Feasibility Study due for completion at the end of the September 2022 quarter.

Bakoumba and Mafoungi

The Bakoumba exploration licence (1,029km2) and the Mafoungi exploration licence (535km2) comprise the Bakoumba iron ore project, located approximately 80km to the west of Baniaka.

“Bakoumba hosts 36km of iron mineralised strike and represents regional exploration upside to Baniaka. We will commence with the maiden DID drill program at Bakoumba in the September 2022 quarter,” says Ariti.

Genmin’s other project in Gabon, the Bitam exploration licence, was renewed in the June 2022 quarter for a term of three years. Bitam is an early-stage exploration project prospective for iron, copper and gold.

“The extension of Baniaka and Bakoumba, and the earlier renewal of the Bitam exploration licence, reflects the efficiency and dedication of the Ministry of Mines in Gabon,” says Ariti.

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