Fenix Resources Provides Iron Ridge Mineral Resource Estimate Update
THE DRILL SERGEANT: Fenix Resources (ASX: FEX) reported an updated JORC code-compliant Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Iron Ridge iron ore mine in Western Australia.
Fenix Resources has increased the Iron Ridge MRE by 8.5 million tonnes taking it to 13.4 million tonnes at 64.9 per cent iron.
This includes 4.3 million tonnes at 65.9 per cent iron in the Indicated category and 9 million tonnes at 64.4 per cent iron as Inferred.
The company said it had maintained high-grade and continuity of the Iron Ridge ore body with potential for further resource base expansion.
Fenix declared the updated MRE enhances the company’s geological confidence for the project and provides a basis for future exploration and updated mine planning and Ore Reserve Estimate updates.
“Maintaining our excellent high-grade iron ore production from Iron Ridge is a priority for Fenix,” Fenix Resources executive chairman John Welborn said in the company’s ASX announcement.
“The success of our recent exploration program has significantly improved our understanding of the deposit and the addition of more than eight million tonnes of high-grade iron ore to our mineral resource estimate provides a strong foundation for future growth.
“Fenix is committed to unlocking the full potential of the remarkable Iron Ridge ore body and we are confident in our ability to continue our strong mining and operational performance while respecting and preserving important heritage areas.
“We are on track for an exciting 2025 with an expected mine plan update for Iron Ridge, ongoing production from the Shine Iron Ore Mine, and the commencement of production from our third operating mine at Beebyn-W11.
“We continue to look for further opportunities to expand our operations to deliver long-term value for all our stakeholders.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE