PERTH (miningweekly.com) – Iron-ore developer Flinders Mines has updated the mineral resource estimate at the Ajax deposit, which forms part of the greater Pilbara Iron Ore project, in Western Australia.
Infill drilling at the Ajax deposit has resulted in about 38% of the deposit’s 70-million-tonne resource, which grades at 55.7% iron, being classified as indicated.
The Pilbara Iron Ore project has a total mineral resource of more than one-billion tonnes, grading 55.6% iron, with some 86% of this resource classified as indicated or measured.
Flinders said on Friday that the infill drilling completed in 2014 has given the company a greater degree of confidence in the mineral resource model, which forms the basis of the bankable feasibility study for the Pilbara Iron Ore project.
The study was currently under way and would be completed by the end of June this year.
A previously completed independent investigation into the project had revealed that capital expenditure of A$726-million would be required to support a 25-million-tonne-a-year operation at the Pilbara project.