Hamersley Iron Project – An advanced exploration opportunity located in the Pilbara region
The Project sits ~50km north-east of Tom Price and immediately south of the Solomon project held by Fortescue Metals Group Ltd.
Figure 1: Project location
The Project boasts significant upside, with highlights including:
- Adjacent to operating mines, workforce, roads & rail.
- FMG and RIO rail approx. 35km from the deposit.
- Major towns nearby, Tom Price (50m) & Paraburdoo (125km).
JORC 2004 compliant Mineral Resource for the Project:
- 343.2 Mt @ 54.5% Fe (576.9% CaFe)
- Indicated Resource of 42.6Mt @ 55.2% Fe (57.9% CaFe)
- Project exploration target of ~400Mt @ 54-56% Fe
Total of 152 drill holes for 20,961m of drilling to date:
- Assays continue to confirm high-grade intersections of channel iron mineralisation.
- Recently completed a drill program to test higher grade shallow (from 28m) mineralisation, assays pending.
- The deposit remains open in North and SW directions.
Metallurgy work of CID in SW corner completed – indicating higher grade material Mining Lease granted, Native Title agreement executed Nov 2014.
Set out below in Table 1 are the potential development scenarios proposed by the Company, which are based on the completion of several Scoping Studies.
Table 1: Potential development scenarios based on Scoping Studies
**** Plans to re-commence Pre-Feasibility Studied upon turn around in Iron Ore spot price. ****
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