Sphere Minerals (ASX:SPH) has released a maiden (inferred) resource estimate on its Askaf iron ore project in Mauritania, Africa. This resource estimate contains 165 million tonnes at an average grade of 35%Fe. Preliminary studies indicate this grade can be upgraded to an end-product containing 65-70%Fe, which would make the Askaf iron ore a very interesting end-product if the level of contaminants can be kept under control.
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Disclosure: The author holds no position in Sphere Minerals. Please see our disclaimer for current positions.
