FRX.L Share News (FRX)

Iron ore and manganese development company Ferrex said high iron values have been returned from rock samples at the Mebago DSO iron ore project in northern Gabon.The 13 samples, collected as part of a mapping programme in February to increase the mineralised area at the 309 sq km project, showed assays of up to 63.3% iron ore.The company has scheduled drilling for the second half of 2014."The assay results from rock samples taken from these areas confirm the potential for additional extensive significant DSO grade iron ore mineralisation within the licence area," said Managing Director Dave Reeves. Shares rose 7.81% to 1.72p at 16:08 on Tuesday.RD