Zanaga Iron Ore Company on Tuesday announced it had completed the bulk sampling programme at its Zanaga iron ore project in the Republic of Congo, on time and within budget.
The AIM-listed project developer extracted approximately 30,000 tonnes of ore to assemble a 100-tonne composite sample from the hematite zone earmarked for Stage 1's 12 million tonnes per annum operation.
It said the sample will now support pilot-scale metallurgical test work to validate Zanaga's revised direct-reduced-iron (DRI) processing flowsheet, a step the company says will allow it to move directly into detailed engineering and design.
The bulk sampling campaign, launched in July and funded from proceeds of the company's May equity raise, marked the first major equipment mobilisation at the project site since 2014.
"The successful completion of the bulk sampling Programme represents a significant milestone for the Zanaga Project, constituting the first major equipment mobilisation at the Project site since 2014," said chief executive Martin Knauth, adding the work was done "while maintaining the highest standards of safety, environmental stewardship and community engagement."
The May placing, subscription and retail offer raised approximately £5.7 million gross through the issue of 158.72 million new shares at 4p, proceeds the company said would fund working capital and accelerate project workstreams including this sampling campaign.
Read more about Zanaga Iron Ore Company
- 15/09/26Zanaga starts bulk sampling at Congo iron ore project
- 31/07/26Zanaga extends Red Arc deadline as $500m DFI financing advances
- 18/05/26Zanaga raises £5.7m to accelerate Zanaga Project workstreams
Results from the upcoming metallurgical testing will define crushing, grinding and screening equipment requirements, update mass, energy and water balances, and feed into capital and operating cost estimates underpinning the front-end engineering and design programme.
Zanaga is targeting a Final Investment Decision in mid-2027, having completed a project development strategy programme in April that lifted Stage One net present value to $2.54 billion, up approximately 30.9% against its 2024 Feasibility Update, with Stage One capital expenditure estimated at $2.17 billion.