PERTH (miningweekly.com) – Junior BCI Minerals has reported a maiden Joint Ore Reserves Committee-compliant resource for its Kumina iron-ore project, in Western Australia.
The project is estimated to host an inferred mineral resource of 78.3-million tonnes at 59.1% iron and a cutoff of 57% iron, or 115.2-million tonnes at 58% iron and 53% iron cutoff.
The mineral resource estimate includes the resources from the Kumina A, E and J deposits.
“Proving up three deposits at Kumina to resource status within nine months of acquisition is a positive result, particularly given these forgotten tenements came with zero exploration information when acquired in late 2017,” said BCI MD Alwyn Vorster.
“We now have a very promising group of deposits, including a significant tonnage of bedded iron mineralisation with a grade of more than 59% iron and relatively low impurities, providing a credible ore source in the current iron-ore market environment.”
Vorster said that Kumina also had substantial exploration upside, with many prospective targets remaining untested, with the project showing itself to be an attractive standalone development opportunity.
“The Kumina resource quality is equal or better than many ore sources from the central Pilbara area, and the distance by existing road from Kumina to Port Hedland is shorter than the distance from our Iron Valley tenement to Port Hedland, making profitable trucking or rail solutions possible.”
Vorster said that BCI is now working to secure funding and partner solutions to accelerate the development of Kumina.
“Our aim is to minimise ongoing iron-ore expenditure and create additional earnings to the existing Iron Valley royalty, which can support the development of our salt and potash interests.”