More resource at Zenith's Mount Alexander
PERTH (miningweekly.com) – ASX-listed junior Zenith Minerals has increased the resource at its Mount Alexander magnetite project, in Western Australia, by some 36%, to 535-million tons, grading 30% iron and 48% silicon dioxide.
The new resource estimate incorporated results from a drilling programme completed in early 2013, the company said.
Apart from the defined resource, the project also had an exploration target of between 570-million and 680-million tons, at between 25% to 35% iron.
A 2011 scoping study predicted that the Mount Alexander project could deliver some eight-million tons a year of magnetite concentrate, over a life-of-mine of 20 years.
Zenith noted that work on elements of a feasibility study for the project had been undertaken, aimed at de-risking the project. Environmental consultants have finalised the level one and two environmental surveys, and work was under way to secure access to a project water supply.
Meanwhile, Zenith was also engaging with potential development partners for the Mount Alexander project.
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