Iron Road boosts Central Eyre resource to 1.2Bt
10:46, Wednesday, 9 February 2011
Sydney - Wednesday - Feb 9: (RWE Australian Business News) -
Iron Road Ltd (ASX:IRD) today announce a substantial resource upgrade at
the Central Eyre Iron Project with Mineral Resources again tripling in
size, in this instance from 328Mt to 1.2Bt.
The resource upgrade comes as part of an ongoing pre-feasibility
study, evaluating an initial 10m tonnes per annum (Mtpa) high-grade iron
concentrate export operation expanding to 20Mtpa.
Managing director Mr Andrew Stocks said, "This is a great result
for Iron Road. The Central Eyre Iron Project continues to demonstrate it
has the necessary size and scope to be a major iron producer, sitting
alongside some of Australia's most significant new wave of iron
concentrate export operations currently under development.
"Significantly, 60pc of the Murphy South Mineral Resource has
been classified as Indicated by Coffey Mining, demonstrating the robust
nature of this deposit. We have also been able to establish that the
iron ore present at the Central Eyre Iron Project is readily upgraded
into a premium high-grade iron concentrate by simple processing.
"Whilst the in-situ iron grades at Central Eyre are below that
of some of our peers, this is more than offset by the very coarse
grained nature of the magnetite mineralisation and the distinctive
geology of the ore body."
Reuters.
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