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Fortescue adds to Nyidinghu resource

13th March 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Iron-ore major Fortescue Metals has boosted the resource at its Nyidinghu project, in the Pilbara by some 450-million tons, taking the project’s total resource estimate to some 2.46-billion tons.

The estimate included a measured resource of 23-million tons, at 59.6% iron, and an indicated resource of 580-million tons at 58.1% iron.

The remaining 1.86-billion tons were classified as inferred.

CEO Nev Power said on Wednesday that the substantial quantity of high-grade resource, and the 2.46-billion tons of total resource, provided Fortescue with a number of attractive development options for future consideration.

The Nyidinghu orebody is some 35 km south of the existing Cloudbreak operation, with Power pointing out that mineralisation remained open, particularly to the north.

He said that the company was confident that the Nyidinghu resource would eventually exceed three-billion tons, when all resource definition work had been completed.

Meanwhile, an estimate had also been completed using a cutoff grade of 59% iron.

Using this cutoff grade, the project area hosted some 735-million tons, at an average grade of 60.6% iron. Of this, some 15-million was classified as measured, with a further 237-million classified as indicated and 483-million as inferred.

Edited by Creamer Media Reporter

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