The Maiden Inferred Resource covers just one area within the project. Ultimately, the project has the potential for a multi-decade mine life based on an increased exploration target1 of 6 to 11 billion tonnes at 14 - 17 % magnetite DTR with a concentrate grade of 69-71% Fe, to a target depth of 450 m. The previously announced exploration target1 of 3.5 to 5.8 billion tonnes at 18 - 20 % magnetite DTR and a premium concentrate grade of 69 -71 % Fe (ASX Dec 2009 Quarterly) was only to 250 m depth.
CAP Price at posting:
78.2¢ Sentiment: Buy Disclosure: Held
