Name and Location
Mariposa iron-ore project, Chile.

Client
Admiralty Minerals Chile, a subsidiary of Admiralty Resources.

Project Description
The Mariposa project is part of Admiralty’s Harper South project.

A prefeasibility study (PFS) completed on Mariposa has confirmed the project to be economically viable, technically feasible and environmentally sound.

The project hosts measured resources of 27.8-million tonnes, with an average of 35.6% iron in total (FeT), indicated resources of 2.9-million tonnes at 34.4% FeT and inferred resources of 35.9-million tonnes at 31.1% FeT.

The PFS considers a traditional openpit mining operation using drilling, blasting, loading and hauling technology, and will include an on-site processing plant.

Mariposa has an estimated 12-year mine life, with total production estimated at 10.9-million tonnes of final product, at 62% FeT, and 24-million tonnes of waste.

Value
The project cost is estimated at $62.37-million.

Duration
Not stated.

Latest Developments
There is a potential upside to the current PFS in that it may be improved, following the results of further detailed metallurgical testing, which is currently under way.

The design of the process plant could also be refined, resulting in lower feed grades, greater mineral resources available for processing and an expanded mine life.

The feasibility study will focus on final product price, port availability, diesel cost and environmental permits,.

Key Contracts and Suppliers
Not stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Admiralty Resources, tel +61 3 9620 7144, fax +61 3 8677 6949 or email info@ady.com.au.