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Corizon delivers maiden resource at Yarraloola

3rd February 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed junior Corizon Resources has declared a maiden mineral resource of 73.1-million tonnes, grading 53.9% iron at its Yarraloola project, in Western Australia.

The resource estimate included an inferred resource of 20-million tonnes, grading 55.7% iron, which was open at the north, east and west in most areas. Corizon said on Tuesday that further drilling would be required to close the envelope.

Extension and infill drilling was now planned to identify opportunities for higher grade areas within, as well as extensions to, the resource base, with a focus on increasing the confidence of the resource from inferred to indicated.

Corizon would also conduct a review of the preliminary ore transportation study for the Yarraloola project, and would start detailed work to identify drill sites within the five priority target areas identified during the resource estimation as having the potential to host significant volumes of channel iron deposit-style, while obtaining the statutory and heritage clearance required for ground work.

Edited by Creamer Media Reporter

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