Ann: Iron Road Central Eyre Iron Project Exceeds , page-2

re: Ann: Iron Road Central Eyre Iron Project ... All on track.

Sydney - Monday - December 12: (RWE Aust Business News) - Iron
Road (ASX:IRD) has a resource upgrade at the Central Eyre Iron Project
(CEIP), with the mineral resources increasing in size from 1.33 billion
tonnes to 2.10bn tonnes.
The upgrade comes as part of an ongoing resource expansion
program at the Murphy South deposit.
Iron Road delivers cumulative upgrade to South Australia's
largest iron ore resource, following drilling to expand the resource
model for further mining study purposes.
The upgrade was delivered as part of ongoing resource expansion
drilling at Murphy South.
Stage VI expansion drilling adds 770mt to the existing 1.01bn
tonne estimate for Murphy South for a total of 1.78 billion tonnes, with
corresponding significant increase in project value.
This compares favourably to the previously disclosed exploration
target of 500-800mt magnetite gneiss with a grade of 16-18pc.
Stage VII drilling at Rob Roy (Murphy South eastern extension) is
currently in progress with an exploration target across the 11 traverses
of 400-700mt magnetite gneiss with an estimated grade of 16-18pc.
At the Hambidge prospect an exploration target of 800M-1,000mt
magnetite gneiss with a grade of 15-18pc iron has been estimated
A Definitive Feasibility Study is currently underway.