Iron Road defines large exploration target at Central Eyre
PERTH (miningweekly.com) – ASX-listed Iron Road has added an additional 8-billion to 17-billion tonnes of exploration potential at its Central Eyre iron project, in South Australia, following a review of the potential for iron mineralisation.
The exploration potential was in addition to the current mineral resource of 3.7-billion tonnes, grading 16% iron. Some 2.7-billion tonnes of this resource has been classified as measured and indicated.
The results from the review were supported by advancement in geological knowledge gained from the analysis of over 500 drill holes, over some 110 000 m of drilling.
Iron Road MD Andrew Stocks said on Wednesday that the new understanding of the Central Eyre project highlighted the potential to extend the mine life well beyond the current 20 years envisaged by the definitive feasibility study.
“Since starting in 2009 with a modest resource base at Central Eyre, and a rigorous and methodical exploration target as our roadmap, after 110 000 m of drilling, we’ve more than proven enormous potential of the project, with resources now touching 3.7-billion tonnes.”
Stocks noted that the enhanced exploration potential gave Iron Road the confidence to state that the Central Eyre project held the potential to become a very long-life, large output project.
“Our definitive feasibility study, currently under way, will describe an integrated export solution for the production of 20-million tonnes a year of high quality iron concentrates, and we can now confidently assume that the study completion late this year, is just the beginning for Central Eyre.”
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