Emerging Australian iron ore miner Atlas Iron Limited has announced the discovery of a new a maiden inferred resource on the Wishbone deposit at the wholly-owned Warrawanda project located 50 kilometers southeast of Newman in Western Australia. The deposit has 57.1 percent iron ore at 20.8 meters deep.
The resource estimation for Wishbone is based upon RC (reverse circulation) exploration drilling commenced by Warwick Resources in 2009, with additional drilling completed by Atlas in May 2010. Mineralization remains open to the north, and the next round of drilling will focus on opportunities for extensions as well as first-pass exploration on other regional targets within the project area.