Total Resources - 3bt @ 13.1%Fe
(755 million tonnes(MT) at 14.7% Davis Tube Recovery for 111 million tonnes of high quality concentrate)
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Legacy Iron Ore / Hawthorne Resources
Considering the amount of parties involved and how long negotiations havebeen in discussions, they are staying tight lipped with no news leaks. To methis shows how serious they are in progressing with the new J/V entity, clearlynegotiating what path to take.
(Lcy announcement 17/12/2013 -Mt Bevan -Significant Resource Upgrade)
Total Resources - 1.17 billion tonnes @34.9%Fe
"ThisJORC Indicated resource is calculatedfor only a 2km strike of the 10km strike mineralisation.The company considers that given the excellent geological continuity of the drilled mineralisation over a 10km strike, that there isno reason to suppose that similar tonnage and gradewould not be obtained in infill drilling over the remaining 8km ofstrike."
"Earlierdrilling at Mt Bevan allowed the definition of a JORC compliant InferredResourceof 2.26 billion tonnes of magnetite mineralisation grading 27.6% Fe
or 1.59billion tonnes of magnetite mineralisation grading 30.2%Fe. The resourceextends over a 10 kilometre strike length of the WesternBIF targetat Mt Bevan".
Conclusion
Sothe above paragraph's tell me there is an overall "potentialresource" of 5.85 billion tonnes@ 34.9%Fe over a 10km strike length and if you take in the lower %Fe wecould potentially have a resource of 11.3billion tonnes @ 27.6%Fe.
Compare this with the companies listed and thisbecomes a very 'large Magnetite holding' with only the Western Bif targeted.
HmmmInteresting times ahead............ !!
(20min delay)