Koton Karfe iron ore project is located in Kogi State, Nigeria, West Africa. The Koton Karfe Iron ore deposit is an extension of Agbaja Iron Ore deposit in Nigeria which hosts an extensive, shallow, flat-lying channel iron deposit. The Iron Ore deposit is within a 19 km2 tenement approved to the company by Nigerian government.

The Koton Karfe Formation and the iron mineralization is laterally and aerially extensive across the Koton Karfe Plateau and consists of an upper unit comprising beds of ferruginous sandstone and reworked Oolite/Pisolite material (referred to as the Laterite unit) that overlies a sequence of massive ferruginous Oolite and Pisolite in a ferruginous matrix.

An initial field program in early 2018 involved profile mapping of cliff sections around the plateau escarpment was conducted. The results of this mapping identified the variability in the thickness of the ironstone sequence ranging between 4 m to greater than 13 m.

A total of 48 RC holes and 1 PQ diamond core drill hole were completed through the resource area. All drilling was undertaken with vertical oriented holes which are perpendicular to the sub-horizontal ironstone deposit and therefore test the true thickness of the body. The Resource area was drilled on nominal 200 m x 200 m grid with the main lines oriented along 045°.

All RC drill holes were geologically logged at a sample interval of 1 m for lithology, colour, weathering, minerals, magnetism, main particle size and general observations in standard company template using a standard code library. Logging was both qualitative (e.g. lithology description, colour and comments) and quantitative (e.g. measurement of magnetic susceptibility).

Logging of the diamond drill hole included recording of lithology, lithological contacts, weathering contacts, and structural characteristics; dry core photos were taken of all core. The remaining core hole drilling programme will commence immediately the rains stop.

The RC drilling (48 holes) were sampled at 1.0 m intervals for assay. RC samples are weighed and recorded on site with sample weighed before splitting. All samples recovered have been prepared and stored to be taken for assaying.

The results for the rock samples taken for analysis at ALS Australia indicates the Iron ore grade to be around 52%.

The project is presently on Core sample sample drilling and KK-052 core borehole has been completed while other proposed core boreholes are in progress.