Mantle holds a 70% interest in 7 licences in the NE part of the DRC, close to the town of Isiro.
In total, these 7 licences cover an area of 2769.5 km². In 2009 a Letter of Intent was signed with Rio Tinto plc whereby Rio will manage the Iron Ore exploration program on these 7 licences and earn in through staged expenditure. To date Rio have completed an Airborne Geophysics survey and have subsequently earned a 30% interest in the project. Ground sampling of hematite and itabirite (high grade iron ore) is also underway and Rio’s estimates are about 400MT in our southern licence area.