Iron Road adds to Central Eyre Resource

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THE DRILL SERGEANT: Iron Road Limited (ASX: IRD) has announced a resource upgrade at the company’s Central Eyre iron project (CEIP).

The Mineral Resources at CEIP have increased in size from 2.1 billion tonnes to 2.6 billion tonnes.

The upgrade comes as part of an ongoing Mineral Resource expansion drilling program.

 

Source: Company announcement

 

“We have now well and truly passed two and a half billion tonnes in Mineral Resources at the Central Eyre iron project, which is entering the world stage for significance,” Iron Road managing director Andrew Stocks said in the company’s announcement to the Australian Securities Exchange.

“Drilling is ongoing, so we expect to add even more to resources in the near future.

“Given our success in bringing in our exploration targets to Mineral Resources in the past, we have increasing confidence that we will repeat this success across our global resource.

“Looking at our long term vision, we ultimately expect to define enough resources to produce a billion tonnes of high quality concentrate for export from the CEIP operations, over a very long life.

“This will more than underpin the capital requirement to get this unique and special operation into production.

“With every tonne we drill and add into Mineral Resource inventory our vision of becoming a trusted and reliable supplier of premium iron concentrates grows closer and more secure.
 
“This really is a project that will stretch well into the economic future of South Australia.”

By adding more than two and a half billion tonnes into the Mineral Resource inventory to date, Iron Road claims it continues to demonstrate the necessary size and scale of resource to underpin the capital required for a potential long-life 20 million tonnes per annum high-grade iron concentrate export operation and the development of associated export infrastructure.
 
The ongoing Definitive Feasibility Study for the project, together with the previous Prefeasibility Study have shown the Mineral Resource at CEIP can be readily upgraded to high-quality concentrate grading 67 per cent iron using a coarse grind size of less than 106 micron.

This product is suited as a high-grade blast furnace sinter feed with low impurities.