Emerging Australian iron ore miner Atlas Iron Limited has announced the discovery of a new direct shipping grade iron ore (DSO) prospect named ‘Hercules' at its Wodgina DSO operation, 110 kilometers south of Port Hedland in Western Australia.
An 80 m by 80 m grid pattern has now been drilled on the Hercules prospect, with results varying between 58 percent to 59.5 percent iron ore from the surface to 52 meters deep.
"Clearly there is an opportunity to generate significant value and mine life from these types of discoveries," commented David Flanagan, Atlas' managing director.
Atlas remains on track to achieve iron ore exports at a combined rate of six million mt a year from its Pardoo and Wodgina operations by December 2010.