BrazIron updates Urubu Resource
THE DRILL SERGEANT: BrazIron (ASX: BZL) has reported an Inferred Resource for the company’s 100 per cent-owned Urubu iron ore prospect, which is part of its Xique Xique project, located in Bahia Province, Brazil.
The total JORC code-compliant Inferred Mineral Resource for the Urubu ore body now stands at 447.4 million tonnes at 25.3 per cent iron, comprising of:
– A JORC code-compliant Inferred Mineral Resource of 317.7 million tonnes at 25.8 per cent iron estimated for the northern section of the Urubu ore body; and
– A previous JORC code-compliant Inferred Mineral Resource of 129.7 million tonnes at 24.1 per cent iron for the southern section of Urubu.
“To finally complete our JORC reportable Mineral Resource is a great milestone,” BrazIron chief executive officer Brad George said in the company’s announcement to the Australian Securities Exchange.
“To now be able to quantitatively demonstrate significant tonnage of clean ore at Urubu, in conjunction with positive mining characteristics, positive metallurgy, encouraging transport options and developing local power and water infrastructure gives us confidence that we have the basis for an attractive mining operation at Urubu.
“We feel there is more ore to be found, but we now have the basis from which to advance the project as most of the components are now either in place or being put in place by third parties.”
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Urubu prospect location. Source: Company announcement
BrazIron has almost completed a preliminary transport study to examine various options for movement of concentrate from Urubu to coastal ports.
A draft is being assessed now that has examined 10 potential transport routes utilising low cost barging and other existing or under-construction infrastructure.
The company has previously announced metallurgical results, which it said demonstrated the amenability of the Urubu ore to be beneficiated into a clean, high-grade concentrate of greater than 62 per cent iron.
It anticipates future studies will refine processing options in light of cheap power and water being available on or near site.
The company has also previously announced mapping results on leases to the north, which it considers leave open the potential for further exploration success.
BrazIron said the new resource, combined with the project’s positive metallurgy and promising transport options, allow the company to assess all commercial options, which may include moving the project into the feasibility stage.