Flinders increases Blackjack deposit Mineral Resource

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THE DRILL SERGEANT: Flinders Mines (ASX: FMS) has announced an update to the Mineral Resource at the Blackjack deposit at the company’s wholly-owned Pilbara Iron Ore Project (PIOP) in the Pilbara region of Western Australia.

The update has resulted from a program of infill drilling program undertaken by Flinders at the PIOP this year, which included a healthy amount of new drilling at the Blackjack deposit.

This has been the first drilling carried out at the Blackjack deposit since 2008 and consisted 194 new reverse circulation (RC) holes.

 

Location of the Blackjack deposit within the broader Pilbara Iron Ore Project (PIOP). Source: Company announcement

 

Based on these results, the updated Mineral Resource for the Blackjack deposit is 86.2 million tonnes at 56.8 per cent iron, using a +50 per cent iron cut-off.

This represents a significant increase of 93 per cent over the previously reported Inferred Mineral Resource for Blackjack.

Flinders said the majority of this Mineral Resource is now in the Indicated category at 84.2 million tonnes at 56.7 per cent iron.

The Mineral Resource is comprised of 19.5 million tonnes of Bedded Iron Deposit (BID) at 56.4 per cent iron, 64.6 million tonnes of Detrital Iron Deposit (DID) at 57 per cent iron and 2.1 million tonnes of Channel Iron Deposit (CID) at 53.9 per cent iron.

The company explained the increase in the current resource is due to the discovery of high quality DID and BID mineralisation via infill drilling and drilling undertaken outside of the previous resource boundary.

“Drilling is planned to commence this week to test for further high-grade mineralisation adjoining the Blackjack Mineral Resource and other BID targets within the PIOP,” Flinders Mines said in its ASX announcement.

“This Mineral Resource update, when combined with those of the other deposits across the PIOP in coming months, will culminate in an update to the PIOP global resource and will be integrated into the Bankable Feasibility Study, currently due for completion by the end of June 2015.”

Email: info@flindersmines.com

Website: www.flindersmines.com