minebox article worth a read

Hey Guys and Gals this article just popped up on mine box might help to give the SP the liitle nudge it needs in the northerly direction again Worth a read all the stuff that us superior human beins on ASFS allready new but good to see it in print for the masses

First resource estimate for Yalgoo Iron Project




Ferrowest has announced an estimated mineral resource of 112.5 million tonnes at 25.3% total iron at its Yalgoo Iron Project in the mid west region of Western Australia.

The resource estimate has been completed for 10km of 27km strike at the Yogi deposit. According to the company, the resource underpins iron requirements for a more than 20 year project life.

The company intends to continue drilling at Yogi in the fourth quarter as part of the upcoming Definitive Engineering Study.

The new drilling and investigations will aim to raise the confidence of selected sections of the inferred mineral resource to allow determination of ore reserves in order to further advance the project, and identify further resources to add to the company’s resource inventory, which will allow flexibility in the development strategy for the Yalgoo Iron Project.

Metallurgical testwork is still underway, as part of the Pre-feasibility Study that is due for completion before the end of July. When the results of the metallurgical testwork are combined with the geophysical and resource models, this will provide an excellent understanding of the Yogi deposit and be used to define infill drilling targets.

Chief Geologist and Director of Ferrowest, Graeme Johnston, who has worked on many of the iron ore deposits in the mid west region including Tallering Peak, Weld Range, Jack Hills, Koolanooka and Blue Hills, is very pleased with the results:

“We are starting to get a good understanding of the potential of the Yogi deposit and I am looking forward to our continuing exploration,” Mr Johnston said.

“The correlation between our ground magnetics modelling of the orebody and the drilling results has been impressive so far, and the same modelling of the remainder of the 27km strike has given us some excellent targets for further exploration drilling later this year,” he added,

Ferrowest Managing Director, Brett Manning, was also very pleased with the result.

“We have been in operation for only 11 months and started the Yalgoo Iron Project with no resources and no drilling of our own. Our target for this first Resource Estimate had been 75 million tonnes and so we are very pleased with the actual result. Securing sufficient resources to underpin the Yalgoo Iron Project’s requirements for a 20+ year operation is a key building block in the Project’s development,” he said.

“In fact, with a further two thirds of the deposit yet to be drilled, the total resource potential is no longer an issue for us. We will continue to explore the deposit into the future but with an aim now of identifying the most economic sections of the deposit,” Mr Manning added.

Ferrowest Ltd is developing the Yalgoo Iron Project aimed at producing merchant pig iron from the Yogi magnetite mineralisation near Yalgoo in the mid west region of Western Australia. Proposed initial production is 500,000 tonnes per annum.

The plan to process the iron ore to pig iron on the mine site is premised on emerging mine site based technologies and excellent existing infrastructure servicing the site. The resulting value added merchant pig iron product will be a relatively high margin, high quality, low volume product for export to electric arc and basic oxygen furnace steel making plants worldwide.

- 03 Jul 2007
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