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Ironveld's subsidiary Luge mining right application accepted
StockMarketWire.com
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Ironveld's subsidiary company Luge Prospecting and Mining, said its mining application for vanadiferous-titaniferous magnetite over the farms Luge 697 LR and Non Plus Ultra 683 LR was accepted Department of Mineral Resources and Energy in South Africa.
The area covered by the farms had outcropping main magnetite layer ore which was an extension of and identical to the vanadiferous-titaniferous ore found on the company's existing Lapon and HW Iron properties.
'Once the mining right is granted it will increase the company's main magnetite mineral resource by about 20%, taking the outcrop length from approximately 28 kilometres to approximately 33 kilometres,' it added.
At 9:04am: (LON:IRON) Ironveld Plc share price was 0p at 0.63p
Story provided by StockMarketWire.com
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