Radar scoping proves positive at Yerecoin
PERTH (miningweekly.com) – A scoping study for ASX-listed Radar Iron’s Yerecoin magnetite project, in Western Australia, has proven that the project is economically and technically viable.
The scoping study revealed that the Yerecoin main deposit would be the initial focus for mining activities, hosting an inferred resource of 146.5-million tons grading 68.8% iron and 2.8% silicon dioxide.
Radar was looking at a phased development for Yerecoin, with initial production targeted at 250 000 t/y of high-quality magnetite concentrate, using a small-scale production plant for an estimated capital cost of A$35-million.
Furthermore, the existing rail line adjacent to the Yerecoin project would be able to handle about 750 000 t/y of concentrate, prior to requiring any substantial upgrade.
Radar has now launched further studies aimed at increasing the level of technical knowledge and cost base for the entire mining and transport process.
The company would also initiate discussions with infrastructure providers to determine the best port option for Yerecoin and to increase the accuracy of current cost estimates.
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