Growth Continues As Atlas Iron Limited (ASX:AGO) DSO Resource And Reserves Increase At Its Pilbara Projects
Perth, July 29, 2009 AEST (ABN Newswire) - Atlas Iron Limited (ASX:AGO) is pleased to report continued growth in its Direct Shipping Ore (DSO) resource and reserve position for its Pilbara iron ore projects as at July 2009.
Following an aggressive exploration campaign during the first half of 2009, Atlas is now in a position to provide an updated resource and reserve summary for its Pilbara projects.
"With a world class open access port and transport infrastructure on our doorstep, this rapidly growing resource and reserve inventory clearly presents a huge opportunity for Atlas shareholders." commented David Flanagan, Atlas' Managing Director. "On top of this, we are fully funded with no debt and we are seeing very strong demand for our iron ore."
Total DSO Resources and reserves are summarised below. They are to be read in conjunction with the "Atlas DSO Resource and Reserve Upgrade" dated 29th July 2009".
Atlas Summary Resource Table - July 2009----------------------------------------------------------------Project Resource Fe SiO2 Al2O3 P S LOI CaFe Area Classification Kt (%) (%) (%) (%) (%) (%) (%)---------------------------------------------------------------- Measured 2,150 56.6 6.7 2.5 0.17 0.02 9.1 62.3Total Indicated 36,838 57.2 6.8 1.7 0.09 0.02 8.8 62.7 Inferred 55,952 56 7.4 2.3 0.07 0.05 9.0 61.5----------------------------------------------------------------Total All Resources 94,940 56.5 7.2 2.1 0.08 0.04 8.9 62.0----------------------------------------------------------------
Atlas Summary Reserve Table - July 2009----------------------------------------------------------------Project Resource Fe SiO2 Al2O3 P S LOI CaFe Area Classification Kt (%) (%) (%) (%) (%) (%) (%)----------------------------------------------------------------Total Proved 1,006 57.4 5.9 2.1 0.16 0.02 9.0 63.1 Probable 24,459 57.9 5.9 1.6 0.09 0.02 8.7 63.5----------------------------------------------------------------Total All Reserves 25,465 57.9 5.9 1.7 0.09 0.02 8.7 63.5----------------------------------------------------------------
For the complete Atlas Iron ASX Announcement, please click the link below:
http://www.abnnewswire.net/media/en/docs/61134-ASX-AGO-454379.pdf
About Atlas Iron Limited
Atlas Iron Limited (ASX:AGO) is an independent Australian iron ore company, mining and exporting Direct Shipping Ore (DSO) from its operations in the Northern Pilbara region of Western Australia. Since listing on the ASX in late 2004, Atlas has grown rapidly and is now a member of the ASX100 index.
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