West Africa

Nemex Resources Ltd (ASX: NXR) is dedicated to the discovery and development of economic mineral deposits in West Africa, leveraging off its extensive operational experience on the sub-continent. Nemex has made a significant discovery of high-grade iron ore at Télimélé and it is looking at development options due to its proximity to the coast in Guinea. Nemex has also acquired 100% rights to 1,186sq km of Exploration Licences in neighbouring Côte d’Ivoire where it believes there are undiscovered gold deposits.

Iron Ore (direct shipping ore)

Nemex 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 includes16.8 million tonnes @ 55.1% Fe of potential direct shipping ore (DSO). Nemex has given guidance on its Regional Exploration Target of 2-5 billion tonnes of 30-40% Fe including 50-100 million tonnes of 50-60% Fe.

In an attempt to understand the broad costs associated with production and exportation of a high-grade lump product (T1 product), Nemex completed a study that incorporates all resource, mining, metallurgical information and costings (both operating and capital items) that the Company has compiled in the course of the year. This study, referred to herein as the ‘Concept Study’ provided the Nemex Board with enough information to warrant a continuation of exploration work at Télimélé, that will include future drilling and completion of a bankable feasibility study. The Concept Study looked at various annual export rates and export routes and their cost implications from the resource area to the coast, which is only 110km away. Nemex aspires to be an iron ore development and production company 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.

Gold, Base Metals, Manganese

Nemex has been granted three licences covering 1,186sq km for several exciting gold and base metal opportunities in Côte d’Ivoire, that were based on a mineralisation targeting exercise. Nemex has lodged applications for thee additional licences in Côte d’Ivoire.

A 17km long ridge of Banded Manganese Formation (BMF) occuring at our Dabakala Exploration Licence will be examined for economic manganese deposits.