GIR 0.00% $5.43 giralia resources nl

Ann: Maiden JORC resource for Yerecoin magnetite , page-2

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  1. 1,341 Posts.
    re: Ann: Maiden JORC resource for Yerecoin ma... Giralia posts maiden resource
    Wednesday, 7 July 2010

    GIRALIA Resources has reported a maiden inferred resource for its Yerecoin magnetite project in Western Australia.

    The overall resource has been estimated at 186.8 million tonnes at 30.9% iron including 153.4Mt at 31.1% iron in the northern Yerecoin area.

    Giralia said the estimate provided support for its previously defined exploration target at Yerecoin of 200-250Mt grading 30-35% iron.

    At the mining rate envisaged in the scoping study of 7.5Mtpa, this will equate to more than 20 years of production, the company said.

    Today?s news comes after Giralia announced a positive scoping study for the project in February this year.

    The pre-feasibility study will evaluate development options, mining and process engineering, product specification testwork, transport, marketing, environmental and groundwater studies.

    A key to the development of the project, 120km north-northeast of Perth, is that it lies 1km from existing rail access.

    The company believes there could be potential to expand the resource from untested magnetic anomalies along strike.



 
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