Potential expanded contract for MACA as well ?
https://www.australianmining.com.au/news/fenix-jv-to-expand-iron-ridge-resource/
Fenix JV to expand Iron Ridge resource
February 8, 2021News Salomae Haselgrove
The Iron Ridge iron ore stockpile. Image: Fenix Resources.
Fenix Resources has signed a joint venture (JV) agreement with Scorpion Minerals for iron ore tenements that are adjacent to the Iron Ridge project in Western Australia.
The agreement covers tenements E20/953, which could be acquired by Scorpion Minerals or Element 25, and E20/948, which is owned by Scorpion.
Under the JV, Fenix may earn 70 per cent of the iron ore rights on the tenements by funding exploration and drilling to identify up to 10 million tonnes of iron ore.
E30/953 and E20/948 lie adjacent to Fenix’s Iron Ridge project, which has a JORC-compliant total mineral resource of 10.5 million tonnes of high-grade direct shipping ore (DSO) at 64.2 per cent iron.
Fenix managing director Rob Brierley said like the existing Iron Ridge project, the tenements would benefit from the infrastructure already in place at and around the project.
This includes a 10-year lease agreement with the nearby Port of Geraldton for exports.
“Fenix is excited by the opportunity to increase its land holding and potentially, its iron ore resource to further benefit from the regional infrastructure, ore transport and port facilities already established for the Iron Ridge project,” Brierley said.
The terms of the agreement include Scorpion granting Fenix the right to earn a 70 per cent interest within the four-year farm-in period, should Fenix satisfy its exploration requirements.
Aside from funding all drilling up to 10 million tonnes of iron ore, it is also required to complete a feasibility study on a minimum one million tonne iron ore deposit and spend no less than $350,000 on exploration expenditure.
After the initial farm-in period, Scorpion will grant Fenix sole rights to complete iron ore exploration.
Fenix is set to achieve early iron ore sales early this year, aiming to dispatch its first shipment of high-grade iron ore from the Port of Geraldton this quarter.
A previous story on MACA’s $185M contract win last October
https://www.australianmining.com.au/news/fenix-awards-iron-ridge-contract-to-maca/
Fenix awards Iron Ridge contract to MACA
October 19, 2020News Nickolas Zakharia
Clearing activities at Iron Ridge. Image: Fenix Resources.
MACA has secured a $185 million six-year drill and blast, crushing and screening contract at Fenix Resources’ Iron Ridge iron ore project in Western Australia.
The contractor has already started pre-production activities by mobilising its heavy earthmoving equipment to the Iron Ridge site, with open pit mining, crushing and screening operations due to commence in the current quarter.
MACA has previously had contracts with Atlas Iron and Crossland Resources for iron ore-related works.
Fenix managing director Rob Brierley said Fenix had been liaising with MACA for over a year about Iron Ridge.
“We have been interacting with MACA on all aspects associated with the Iron Ridge project for well over a year now, and we are pleased that this relationship will continue as we transition to production in the near-term,” he said.
“MACA has vast experience in all aspects of iron ore mining operations and has essentially offered Fenix a one-stop shop for all our service requirements leading up to the transport of the ore from site to the port of Geraldton.”
Located 490 kilometres by road from Geraldton Port, Iron Ridge is Fenix’s flagship iron ore project, with the company expecting to deliver first sales in early 2021.
As of August last year, the Iron Ridge project had a mineral resource of 10 million tonnes of ore at 64.3 per cent iron and an inferred 500,000 tonnes at 64.2 per cent iron, bringing he total resource estimate to 10.5 million tonnes.
Last year, Fenix signed a joint cooperation agreement (JCA) with Geraldton Port to transport up to 1.25 million tonnes of ore per annum to the port.
The company expects to create a total of 350 full time equivalent direct and indirect jobs throughout the supply chain.
cheers