SUBSTANTIAL INCREASE IN JAMBREIRO MEASURED RESOURCE UNDERPINS FEASIBILITY STUDY: CONFIRMS PROJECT STRENGTH
BFS on track for completion in
September, paving the way for project
development
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246% increase in Measured Resource to 46.7Mt @ 28.3% Fe with the overall Jambreiro resource estimate increasing to 125.2Mt @ 26.7% Fe.
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Total Measured and Indicated Friable Resource estimate lifted to 53.7Mt @ 28.4% Fe with the Measured Friable Resource estimate alone, of 37.6Mt @ 28.8% Fe, underpinning the first six years of mining.
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In-fill drilling and updated resource confirm the strong consistency of widths and grades of mineralisation at Jambreiro.
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Updated resource to underpin the Bankable Feasibility Study (BFS), with high conversion of Measured and Indicated Resources to Ore Reserves expected when the BFS is finalised.
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Extensive bench scale testwork and initial pilot plant testwork shows that a high-grade (+65% Fe), low impurity sinter product can be produced from Jambreiro ore – new 50-tonne pilot plant testwork program underway.
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