Flinders Mines identifies further 113 million mt in iron deposits at Delta

Thursday, 18 March 2010 15:12:05 (GMT+2)

Emerging Western Australian miner Flinders Mines Limited has announced that an analysis of new resource figures from its flagship Pilbara Iron Ore Project in Western Australia's iron heartland has seen the company's potential direct shipping ore (DSO) component elevated.

Flinders Mines managing director Dr. Kevin Wills revealed at an investor conference that the latest estimates on the Delta deposit have identified a combined indicated and inferred resource consisting of lower channel and bedded iron deposits of 113 million mt at 58.5 percent. The development has increased the total indicated and inferred resource reserve level to 187.1 million mt at 56.5 percent and the global reserve level to 550 million mt at 55.6 percent. The reserves have the potential after further metallurgical and mining studies for direct export to busy steel mills in Asia.

"We continue to be heartened by the early findings of our ongoing mining studies, which suggest that the Delta deposit will lend itself to low-cost open-cut mining with low waste-to-ore ratios," Dr. Wills said, adding that exploration activities still continue and maiden iron ore production is expected to take place toward the end of 2012.

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