Beyondie Magnetite Iron Project Location Map
Perth, July 14, 2009 AEST (ABN Newswire) - Emergent Resources Limited (ASX:EMG) is pleased to announce details of a maiden JORC Resource of 127Mt @ 28.15%Fe at the Company's flagship Beyondie Iron Project in Western Australia's mid-west iron ore region.
The Company is aiming to eventually produce a high grade magnetite concentrate of +68%Fe, with very low impurities; silica (Si), aluminium (Al), titanium (Ti), phosphorous (P), and sulphur (S).
The Beyondie Project has a current known strike length of 45km, and the drill programs to date have only focused on an 11km segment of this strike length. The remainder, whilst still to be tested and drilled, is considered by the Directors to be highly prospective for a continuation of the tested segment.
Commenting on the JORC Resource Emergent Managing Director Garry Hemming said: "The confirmation of our maiden JORC Resource at Beyondie is a significant step forward in the development of the project."
"To achieve this result in such a short timeframe since listing on the ASX last August is a testament to our focus and commitment to the exploration and development of the Beyondie Project, and follows our recent MOU with the Chinese State Owned Enterprise; China Metallurgical Investment Co Ltd for the development of the project. We will now embark on further drilling programs with the aim being to upgrade the size and category of the resource," Mr Hemming said.
The Beyondie Project is located in the northern region of the mid-west Iron Province in WA, immediately adjacent to the Great Northern Highway and Goldfields Gas Pipeline. The Company has already commenced negotiations on potential shared rail and port infrastructure arrangements for the project.
Emergent plans to develop the project into a long life, large scale, high grade magnetite concentrate mining operation, and has the right to earn up to an 80% interest in the project by way of a joint venture with De Grey Mining Limited.
The Resource is in the Inferred category and was calculated using a cut-off grade of 21%Fe, and confirmed from the results of two drill programs at the project which totaled 5,651m across 46 holes.
Fe% Grade Range - Tonnes Fe% Fe2O3% SiO2%-------------------------------------------------Total INFERRED - 127,000,000 28.15 40.25 49.42-------------------------------------------------Al2O3% TiO2% P ppm S% LOI%--------------------------------3.96 0.16 1164 0.02 2.63--------------------------------
For the complete Emergent Resources Announcement and the Beyondie JORC Resource estimate (carried out by Al Maynard and Associates Pty Ltd), please click the link below:
http://www.abnnewswire.net/media/en/docs/61039-ASX-EMG-452744.pdf
Contact
Garry Hemming
Managing Director
Emergent Resources
Mob: +61-419-835-757
Email: ghem@westnet.com.au
www.emergentresources.com.au
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