Australian iron ore development company BC Iron has announced that it has signed a binding agreement with Australian mining company Mineralogy Pty Ltd (Mineralogy) to acquire a number of prospective and underexplored West Pilbara tenements from Mineralogy.
According to BC Iron, the tenements have the potential to host iron ore deposits which could increase the throughput of the company’s Buckland mine project in Pilbara and enhance the value and marketability of the proposed “Buckland Blend”. Upon completion of the acquisition, BCI plans to conduct an initial exploration program on the tenements to assess their potential to contribute to the Buckland Project, before fast-tracking further exploration and feasibility study work as required.
BC Iron’s managing director Alwyn Vorster stated that given that the tenements have been largely unexplored or underexplored for many decades, it presents a relatively unique opportunity for the company to implement an extensive exploration program for iron ore and other minerals in the Pilbara.