Overview
The Floralia hematite iron ore property is located 120-km east of the city of Belo Horizonte in the State of Minas Gerais, Brazil, within 20-km of major, iron ore mines and steel mills (iron ore furnace). Local mining infrastructure includes railways, haul roads, mining services and personnel.
Mineralization
The Floralia hematite deposit consists of four distinct bodies of iron ore mineralization along a southeastern trend. Mapping has traced iron ore along 1,000m of strike to the north and a further 822m to the southwest, with largest body located at the southeastern end. This body is exposed by an historic open pit 80m wide and 40m deep. The benches of the mining pit reveal a plunging band of iron ore at the base and sub-horizontal banding at the top of the pit.
2024 Exploration
During the mapping and sampling program, 41 channel samples were collected over a 151m accumulated length. The samples averaged 58% Fe with a 6% LOI (Loss of Ignition). This work has resulted in the definition of a geological target estimated at 2,971,233 m3 to 4,496,333 m3 or 8,052,041 tonnes to 12,184,160 tonnes using a density of 2.71 g/cm3 at an average grade of 58% Fe with a 6% LOI.