Black Fire Energy Announces Acquisition of Iron Ore Projects in Kogi State, Nigeria
Black Fire Energy announced that they have entered into a conditional Heads of Agreement to acquire a 100% interest in AICO Ado Ibrahim Mining Company in Kogi State, Nigeria. The Company reported it is to acquire advanced package of iron deposits; and package contains six projects containing magnetite style mineralisation – potential for hematite mineralisation also exists. The Company’s exploration target is 400-600Mt of potential iron mineralisation grading between 15-65% averaging 30-36%. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a Mineral Resource under the JORC Code and it is uncertain if further exploration will result in the determination of a Mineral Resource.
Original Announcement: Acquisition of iron ore projects, Kogi State, Nigeria
