Following the successful completion of the phase one reverse circulation drilling program, Murchison Metals has announced a maiden inferred mineral resource estimate for its Rocklea Iron Ore Project.
The Rocklea Iron Ore Project is located in the heart of the Pilbara Iron Ore Province, 40 kilometres west of Tom Price and 50 kilometres north of Paraburdoo.
Based on the results of the drilling the maiden JORC compliant resource is estimated to be 100 million tonnes at 59% CaFe.
The phase one drilling program was designed to test the extent and grade of channel iron style mineralisation.
Channel iron deposits made up approximately one third of Australia’s total iron ore production in 2008 and are highly valued by customers for their excellent sintering properties and ultra-low phosphorous levels.
Potential development options for the project will be considered in 2009 and may include negotiating third party rail access on one of several planned and current rail networks or cooperative development with other explorers in the region.
The ultra-low phosphorous levels of the deposit may represent an opportunity for blending with nearby iron ore producers.
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