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Perth, June 26, 2009 (ABN Newswire) - Murchison Metals Limited (ASX:MMX)(PINK:MUMTF) is pleased to announce it has commenced scoping study work on its 100% owned Rocklea Iron Ore Project.
The Rocklea Project is located in the Pilbara region between the towns of Tom Price and Paraburdoo, and is situated near existing and planned rail infrastructure.
In February 2009, Murchison estimated a maiden Inferred Mineral Resource at Rocklea of 100 Mt @ 59% CaFe(1).
Encouraged by this early success, Murchison commenced a comprehensive program of work in April 2009. An RC drilling program has recently been completed focusing on the eastern part of the project where the maiden resource was identified and work has now commenced on a 14 hole PQ3 diamond drilling program. This work has identified a continuous higher grade zone that will be modelled separately to the total resource.
Murchison's scoping study of the Rocklea project will consider mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors targeting completion by the fourth quarter of this year.
The scoping study is taking place against a backdrop of heightened activity in the Pilbara region.
Murchison notes the recent exploration success by Ausquest Limited on its project adjacent to Rocklea, which Murchison considers is likely to be an extension of the same Channel Iron Deposit.
In addition, Murchison also notes Aquila Resources Ltd's recent announcement regarding a cooperation agreement between API Management Pty Ltd and Fortescue Metals Group Ltd to study a proposed shared port at Anketell Point that may offer an infrastructure solution for their West Pilbara and Solomon iron ore projects. Any such development could be highly relevant to the development of Rocklea, and will be investigated as part of the scoping study work.
Murchison expects to release an updated resource in the September quarter.
(1) Refer to ASX announcement 2 February 2009 for full details of the Mineral Resource.
The Rocklea Project is located in the Pilbara region between the towns of Tom Price and Paraburdoo, and is situated near existing and planned rail infrastructure.
In February 2009, Murchison estimated a maiden Inferred Mineral Resource at Rocklea of 100 Mt @ 59% CaFe(1).
Encouraged by this early success, Murchison commenced a comprehensive program of work in April 2009. An RC drilling program has recently been completed focusing on the eastern part of the project where the maiden resource was identified and work has now commenced on a 14 hole PQ3 diamond drilling program. This work has identified a continuous higher grade zone that will be modelled separately to the total resource.
Murchison's scoping study of the Rocklea project will consider mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors targeting completion by the fourth quarter of this year.
The scoping study is taking place against a backdrop of heightened activity in the Pilbara region.
Murchison notes the recent exploration success by Ausquest Limited on its project adjacent to Rocklea, which Murchison considers is likely to be an extension of the same Channel Iron Deposit.
In addition, Murchison also notes Aquila Resources Ltd's recent announcement regarding a cooperation agreement between API Management Pty Ltd and Fortescue Metals Group Ltd to study a proposed shared port at Anketell Point that may offer an infrastructure solution for their West Pilbara and Solomon iron ore projects. Any such development could be highly relevant to the development of Rocklea, and will be investigated as part of the scoping study work.
Murchison expects to release an updated resource in the September quarter.
(1) Refer to ASX announcement 2 February 2009 for full details of the Mineral Resource.
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About Murchison Metals Limited
Murchison Metals Limited is an Australian ASX listed company. Murchison is included in the S&P/ASX 200 Index.
Murchison is a 50% shareholder in Crosslands Resources Ltd which is the owner of the Jack Hills iron ore project located in the mid-west region of Western Australia. The remaining 50% of Crosslands is held by Mitsubishi Development Pty Ltd ("Mitsubishi"), a subsidiary of Mitsubishi Corporation, Japan's largest general trading company.
Murchison also has a 50% economic interest in an independent infrastructure business, Oakajee Port and Rail ("OPR"). OPR was established to construct new port and rail infrastructure to provide logistics services to miners (including Crosslands) and other potential customers in the mid-west region of WA.
The remaining 50% economic interest in OPR is held by Mitsubishi.
In addition to its investments in Crosslands and OPR, Murchison owns the Rocklea iron ore project located in the Pilbara region of Western Australia.
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