FerrAus has made a "major new discovery" of iron ore at its Davidson Creek project in the Pilbara region of Western Australia, the company said yesterday.
The Adelaide-based iron ore developer said it had discovered a new iron ore zone with a potential size of 35-40 million tonnes of ore. The deposit was about 1500m long by 100-350m wide and 30-80m thick.
Managing director David Turvey said the new discovery meant that along with the adjacent Gwardar prospect, the firm had an iron ore strike length of 2.7km. "Together they have the potential to contain 60-80 million tonnes of iron mineralisation to a depth of about 180m," he said.
"FerrAus believes it will identify iron mineralisation and grow the combined resource base at the Davidson Creek project to greater than 100 million tonnes of direct shipping hematite grading 58-60 per cent iron. This exciting discovery allows FerrAus to review its mine development plans to consider large-scale production of up to 10 million tonnes per year."
FerrAus last week upgraded the resource estimate at its Robertson Range project by 30 per cent to 45 million tonnes. This resource was likely to support production of 4-5 million tonnes a year, the company said at that time.
The company believes it can reach a 100 million tonne resource this year, with a longer-term target of 250 million tonnes.
Source: Melbourne Herald Sun
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