|Pilbara junior uncovers 'one of the best' DSO discoveries|
|Monday, 17 August 2009 11:43|
Iron Ore Holdings lifts resource Iron Valley resource to 160 million tonnes
Pilbara junior Iron Ore Holdings has upgraded its resource estimate at its Iron Valley project to 160 million tonnes and said there is more to follow.
The Iron Valley deposit is adjacent to BHP Billiton’s Yandi mine and Rio Tinto’s Yandicoogina operations and IOH is looking has already said it has the resources to support a 5-10mtpa mine on the site.
The revised figure follows an extended drilling campaign and includes 107mt of 60.7 per cent high grade DSO.
“[Iron Valley is] perhaps one of the best DSO iron ore discoveries in the Pilbara in recent times,” said IOH managing director Matt Rimes.
“The company is well placed to continue the success of its exploration team.”
Further drilling is planned for September which is expected to lift the resource figure even higher. IOH is also stepping up its plans to get mining underway at Iron Valley.
“The focus for the project will now be the consideration of development options for bringing the ore to market. A scoping study is well advanced to estimate capital and the operating costs for Iron Valley.”
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