Cyclone reports maiden resource in Canada
PERTH (miningweekly.com) – ASX-listed Cyclone Metals has reported a 7.2-billion-tonne maiden Joint Ore Reserves Committee-compliant resource for its Block 103 iron-ore project, in the Labrador Trough region of Canada.
The mineral resource is based on the Greenbush zone, which represents only 25% of the total target mineralised area in Block 103, the company said.
“We are extremely pleased with the scale and quality of the maiden iron-ore mineral resources of Block 103. What makes this project exciting and unique is that the Block 103 mineral resource is located less than 20 km from an open access heavy haul railway and it is very soft and easy to upgrade to 69.5% iron concentrate,” said Cyclone CEO Paul Berend.
“The BWi index is a measure of the ‘hardness’ of the ore and typically one of the main cost drivers to produce a magnetite product. A BWi of 15.5 is very encouraging, particularly combined with the access to plentiful renewable energy, which is fantastic from a sustainability perspective. In comparison, the BWi of Fortescue Metals’ comparable Iron Bridge project in Australia is 40.”
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