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| Australian FerrAus' Robertson Range Iron Ore Project |
| = Staged drilling programs being conducted eyeing production start-up in second half 2008 |
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Australian junior mining company FerrAus Limited is advancing the Robertson Range iron ore project in the East Pilbara region of Western Australia. Since November 2005, the Company has carried out resource estimates following three RC drilling programs and proposes to produce and ship 2 million tons of iron ore a year, commencing in the second half of 2008. Following the Robertson Range project, FerrAus will evaluate the Davidson Creek iron ore project, while proceeding with exploration of manganese and nickel resources. Joe Singer, Managing Director of Penfold Limited, the Company's Shanghai-based major shareholder, has visited Japan and provided updates of the projects. [Robertson Range iron ore project] Robertson Range project is located approximately 50 km east of Jimblebar in the East Pilbara. RC drilling programs conducted to date have rendered a JORC-compliant Indicated and inferred Resource totaling 18.4 million tons (Mt) at 58.8% Fe (based on Stage 2 drilling) . Final results from Stage 3 drilling are expected during February 2007. The results may be used in a revised resource estimate in April 2007 and preliminary mine planning studies, or, as an alternative, incorporated with results from Stage 4 RC drilling in a reserve estimate and detailed mine planning studies by an independent consulting group in June 2007. [Ore grade] The geology and assay results show that iron mineralization occurs in a Marra Mamba type orebody with iron contents ranging between 58 and 62% Fe. The assays from Stage 2 drilling suggest a product quality about 58.8 % Fe (export quality), 4.7% SiO2, 2.7% Al2O3, 0.10% P and 8.1% LOI (Loss on Ignition). The iron ore deposit occurs in shallow dipping geology, which will allow mining from surface with a low strip-ratio. [Infrastructure] Studies on several infrastructure options are under way. One option is to deliver iron ore to BHP Billiton at mine gates. Another option is to rent BHP Billiton-owned railway in accordance with the State Rail Agreement (SRA) and to make use of new berths being constructed by Fortescue Metals Group (FMG) or the Port Hedland Port Authority (PHPA) in Port Hedland. Taking several alternatives including these options into account, FerrAus is seeking optimum logistical solutions. [Outline of FerrAus Limited] Managing director: David Turvey. Acquisition of tenements: 2002. Listing on the Australian Stock Exchange: 2005. Major project lineup: iron ore developments in the East Pilbara, nickel exploration in a joint venture with BHP Billiton. Major shareholder: Penhold Limited, a marketing and investment group established in 1996. |
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| last modified : Wed 07 Mar, 2007 [11:16] |
