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Bushveld hikes iron-ore project resource

Fortune Mojapelo

Fortune Mojapelo

31st March 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Aim-listed Bushveld Minerals on Monday reported a 29% Joint-Ore Reserves Committee-compliant mineral resource increase at its iron-ore project, in Limpopo.

The Bushveld iron-ore project now boasted a total inferred and indicated mineral resource of 991-million tonnes, which included 52-million tonnes at a 40% iron oxide (Fe2O3) cut off on the main magnetite layer (MML).

The total inferred and indicated mineral resource for just the P-Q zone deposit was now 939-million tonnes of iron-ore at a cut off of 35% Fe2O3, after a 31% resource increase from farms Schoonoord 786LR and Bellevue 808LR.

Bushveld expected to deliver a mineral resource in excess of one-billion tonnes through the delineation of further openpittable tonnes to the south, along further strike extensions of this mineralisation, CEO Fortune Mojapelo explained.

“This resource upgrade reinforces our confidence in the scalability of this asset, while maintaining its low-cost mining proposition,” he said.

Meanwhile, Bushveld continued progressing the downstream development of the project towards production, with a detailed metallurgical testwork programme, including pyrometallurgical testwork, under way as part of its prefeasibility studies.

“The intention then is to add a scalability proposition to the realisable, relatively low-capital expenditure production scenario of the scoping study announced in April 2013, which envisages using a fraction of the current resource,” Mojapelo added.

Edited by Creamer Media Reporter

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