More progress on the JV with Cazaly......announced today. Resource is at 23.5mt @55.4% Fe with a further 13.4km of BIF horizon to grow the iron ore discoveries......
9th June 2009
ASX Release
MT CAUDAN IRON RESOURCE
Metallurgical Testwork Results
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• High Lump to Fines products ratio overall
• Higher quality ore types particularly show exceptional
ore characteristics;
o Higher lump (>57%) to fines (<43%) ratio
o Lower than average hardness ores
o Excellent ore chemistry, DSO product
• Indicative of a highly marketable ore product
The Company is pleased to announce the results from preliminary testwork conducted on ores
from its 80% owned Parker Range Iron Project, a joint venture with Gondwana Resources Ltd
(ASX:GDA). The Project lies approximately 60 kilometres by road south of the town of Southern
Cross in the Yilgarn district of Western Australia. The Company recently announced an
upgraded Resource Estimate for Mount Caudan of 23.5mt @ 55.4% Fe for the project
(Appendix A).
Results from testwork on ores from the Mount Caudan deposit at Parker Range were highly
encouraging with high Lump to Fines ratio and ore characteristics which indicate a potentially
highly marketable product.
.........
The flow of good news out of Mt Caudan is welcomed but the news from the Eastern Pilbara where BC Iron and Fortescue are joining forces just South of Gondwana's iron ore tenements is where the bigger news can come from.
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