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Highlights
- Results show concentrate with high Fe purity.
- Average weight recovery of 44.63%.
- Iron concentrate grade averaging 69.8%.
- Very low silica, content averaging 3.3%, with very low levels of sulphur and phosphorus.
- Confirms the potential for the project to deliver Blast Furnace (BF) or Direct Reduction (DR) grade quality pellets.
- The maiden JORC compliant Inferred Resource of 617 Mt at 32.1% Fe covers only 40% of strike length of the first iron ore target.
- Overall Exploration Target for magnetite revised to 1.5-2.0 Bt grading 30% - 40% Fe* - for the southern part of the Western BIF target alone.
- Next phase drilling planned for August 2011 to extend the resource and over the whole extent of the southern part of the Western BIF.