THE DRILL SERGEANT: BCI Minerals (ASX: BCI) released a maiden JORC Mineral Resource estimate for the company’s Kumina tenements in northwest Western Australia, comprising estimates for deposits A, E and J.
BCI Minerals’ Kumina tenements comprise three granted exploration licences covering an area of approximately 480 square kilometres and are located approximately 100km south of Karratha and 50km north-east of the company’s Bungaroo South deposit.
The tenements host numerous channel iron deposit (CID) targets and higher grade bedded iron deposit (BID) targets with associated detrital iron deposit (DID) mineralisation.
The Mineral Resource estimates were completed at Kumina A (Channel Iron Deposit – CID), E and J (both Bedded and Detrital Deposits – BID and DID).
Calculations resulted in an Inferred Mineral Resource of 78.3 million tonnes at 59.1 per cent iron at a 57 per cent iron cut-off, or 115.2 million tonnes at 58 per cent iron at a 53 per cent iron cut-off.
“Proving up three deposits at Kumina to Resource status within nine months of acquisition is a positive result, particularly given these ‘forgotten’ tenements came with zero exploration information when acquired in late 2017,” BCI Minerals managing director Alwyn Vorster said in the company’s announcement to the Australian Securities Exchange.
“We now have a very promising group of deposits, including a significant tonnage of bedded iron mineralisation with a grade of greater than 59 per cent iron and relatively low impurities, providing a credible ore source in the current iron ore market environment.
“Kumina also has substantial exploration upside, with many prospective targets remaining untested, and we see it as an attractive standalone development opportunity.
“The Kumina resource quality is equal or better than many ore sources from the central Pilbara area, and the distance by existing road from Kumina to Port Hedland is shorter than the distance from our Iron Valley tenement (an operating mine) to Port Hedland, making profitable trucking or rail solutions possible.”