POLARIS Metals is on track to complete the prefeasibility study in mid-2008 over its Yilgarn iron ore project in Western Australia and has appointed several key contractors to help with the task.
Under the management of engineering consultants Prodemas International, Polaris has appointed WestNet Rail, Fremantle Ports, ProMet Engineers and Coffey Natural Systems to manage different components of the PFS.
The PFS will assess the economics of mining and exporting ore from the Yilgarn region to the Kwinana Port via a rail link.
Last year's study showed the project's viability based on a 100-200 million tonne target potential which would be sufficient over a 10-20 year mine life at a processing rate of up to 10 million tonnes per annum.
Meanwhile drilling has resumed at the Chamaeleon prospect and will continue onto the Vela, J4 Extension and Musca prospects. Additional drilling is planned for the Carina prospect.
Shares in Polaris closed up 6c or 10.7c to 62c on Friday.
POL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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