Fortescue reports 1.23 billion mt resource estimate for North Star area

Wednesday, 11 August 2010 13:57:40 (GMT+2)

Australian iron ore miner Fortescue Metals Group has announced a 1.23 billion mt resource estimate for its North Star tenement area. Of this resource, 310 million mt or approximately 25 percent is classified as indicated and 920 million mt is classified as inferred.

The deposit is approximately 100 kilometers south of Fortescue's Herb Elliott port facility at Port Hedland and approximately 25 kilometers to the east of Fortescue rail line.

Preliminary results indicate that the North Star material shows the characteristics of a quality magnetite deposit with an Fe grade of 32 percent and can be beneficiated to a processed Fe grade of around 67 percent.

The company said that further work will be undertaken to confirm these initial results.

 previous article  /  next article