FeOre ups ante in iron ore resource in Mongolia
The resource includes 66.1 million tonne of indicated at 36.8% and 58 million tonne of inferred at 35.3% while mFe resource includes 62.7 million tonne of indicated at 27.8% and 61.4 million tonne of inferred at 25.8%.
This represents a 14% increase in the total resources compared with the 2011 resource and a 15% and 509% increase in indicated resource tonnage for TFe and mfe respectively.
The results follow the completion of a 6 hole surface diamond drilling programme in December 2011. The drilling focused on 2 areas including confirming the continuity of mineralization via infilling the near surface of previous inferred portions.
It also confirmed the metallurgical understanding via more test work.
The Ereeny Iron resource covers about 3.26 square kilometres lateral extents and reaches a maximum depth of 400 metres.
Source – Proactive Investors