Cardero Resource Corp. (TSX:CDU,NYSE:CDY,FWB:CR5) announced drill results from the Sheini Hills iron project in Ghana.
As quoted in the press release:
Highlights include Hole 039, which returned 278 metres grading 43.2% iron from surface, including 10.7 metres grading 50.6% iron from surface. Hole 043, located 3.2 kilometres to the south, intersected 166.2 metres grading 37.7% iron from surface, including 107.1 metres grading 42.4% iron from surface. These drill holes are located in folded and faulted zones, supporting the interpretation of higher-grade iron concentrations coincident with structural complexity. In addition, structural thickening in these zones will provide additional in-situ tonnage for the maiden resource calculation, due to be published in Q4 2012.