SOLWAY MINING ANNOUNCES THE DISCOVERY OF HIGHEST AND THICKEST IRON BEARING ZONES

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Solway Mining Inc., a subsidiary of Swiss Solway Industries is pleased to announce that recent assay results from drilling at Mount Blei East have revealed the highest grade and thickest Iron bearing zones to date and confirmed continuity of the mineralisation.

  According to a press release from Solway’s office in Liberia, key points drilling at Mount Blei iron ore project Area 3 (East) confirms continuity of known mineralisation and extends high grade zone along strike and at depth.

“New high-grade intersections include 70m @ >62% Fe and >100m @ 40% and above Fe.

High grades and good thicknesses are defined in a recumbent fold which is a likely location for starter pit. Highest grades ever reported on the project of 68% Fe – “The release stipulates.

According to Solway Mining Inc., the drilling commenced Q2 and continued into Q3 2022 but due to COVID backlogs at the South African laboratory of the company, it has taken until now for the results to come through.

“Activities have focussed to date on high grade zones at Mount Blei Central and Mount Blei South where previous drilling has established a JORC compliant Mineral Resource estimate of 30.5 Mt @ 45 % Fe, as well as a DSO resource of 11Mt @ 58% Fe. Assay results received to date confirm continuity of the DSO hematite mineralisation, from Mount Blei South to Mount Blei East increasing confidence in the resource model to date. Significant extensions at depth and along strike to the east have been identified. A drillhole plan is in Figure 1.

Figure 1 Mount Blei Central, South and East Drill Positions.

 

Sam G. RUSS and Pavel Ermolaev, Directors of Solway MINING, explained that the results to date confirm Mount Blei (East) as a significant high-grade deposit, which underpins the development of the wider Mount Blei iron ore area. “The company looks forward to further detailed Mapping and Trenching results from Mount Blei (East) to definitively demarcate this new high-grade discovery.” They spoke.

Pavel Ermolaev the CIO of Solway Group, added:“These results continue to confirm confidence in our project. With further results imminent there should be continuous news flow from the project over the coming months. This drilling confirms and extends the structural thickening at Mount Blei East, there is expectation that this will add to the high-grade resource in this area. We are looking forward to upgrading resources in a number of areas in early 2023.

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