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Nemex Resources Ltd (ASX :NXR) has taken the Télimélé Iron Project in the mineral-rich West African country of Guinea  from a grass-roots exploration play, to a resource and potential development project in a short period of time. 

Although Nemex has only drilled 5% of the current plateau areas that contain the ironstone mineralisation, it has successfully defined 258 million tonne @ 37.3% Fe of Mineral Resources which includes 16.8 million tonnes @ 55.1% Fe of potential direct shipping ore (DSO). 

Nemex has given guidance on its Exploration Target that includes 2 – 5 billion tonnes of 30-40% Fe including 50 – 100 million tonnes of 50-60% Fe. 

Nemex is exploring early cash-flow by mining the high-grade Fe mineralisation that is at, or close to surface, using nearby modern, multi-user rail and port as an infrastructure solution. 

In addition to its quality iron project which it hopes to develop, Nemex has identified several exciting gold and base metal opportunities in Côte d’Ivoire, that were based on a mineralisation targeting exercise.