||Zanaga Iron Ore Company Limited, a British Virgin Islands registered company, is focused on the management, development and construction of a world class iron ore project, located in the south west of the Republic of Congo (Congo Brazzaville). Zanaga owns, through its 100% owned subsidiary Jumelles Ltd, 100% of Mining Project Development Congo S.A.U. Mining Project Development Congo owns two exclusive exploration licences, each covering 500kmÂ², the Zanaga-Madzoumou Exploration Licence and the Zanaga-Bambama Exploration Licence ('Zanaga Exploration Licences'). The Company has a large scale Mineral Resource of approximately 3.34 billion tonnes at an average grade of 32.8% FeT. This is comprised of 843 million tonnes of haematitic itabirite with an average grade of 38.5% FeT and 2.49 billion tonnes of magnetite with an average grade of 30.82% Fe. This resource has been defined as a result of drilling that has taken place on only 25km of an indicated 47km strike of magnetite mineralisation. Management therefore believes that the Zanaga Project offers significant opportunity to further expand the resource base providing substantial upside potential. The Company is focused on developing the resource base at the Zanaga Project, with annual output targeted to be 45Mtpa of iron ore concentrate once full capacity is reached. Based on metallurgical test work to date, the Company is targeting production of two high quality products, namely: a 65% Fe sinter product and a 67% Fe concentrate product, both with low deleterious elements. It is expected that the Company's products will be transported via a 350km railway line the Company plans to construct and then exported from a new port facility the Company plans to build near Pointe Noire. The Company has reached an advanced stage of exploration with a prefeasibility study ('PFS') on the Zanaga Project expected to be finalised by the end of Q1 2011. Following completion of the PFS, the Company aims to commence a bankable study ('FS') to further define the technical and economic viability of the Zanaga Project to international bankable standards, before moving towards construction and production.