Atlas Iron Limited Stock Market Press Releases and Company Profile

View in Other Languages Atlas Iron Limited (ASX:AGO) 50% Increase In North Pilbara Reserves Atlas Iron Limited (ASX:AGO)北皮尔巴拉直运铁矿石储量增加50% Atlas Iron Limited (ASX:AGO)北皮爾巴拉直運鐵礦石儲量增加50% 
Atlas Iron Limited (ASX:AGO) 50% Increase In North Pilbara Reserves
Atlas Iron Limited (ASX:AGO) 50% Increase In North Pilbara Reserves

Perth, Aug 19, 2011 AEST (ABN Newswire) - Atlas Iron Limited (googlechartASX:AGO) is pleased to announce a 50% increase in DSO Reserves, to 79.3Mt at 57.8% Fe, for its North Pilbara Projects. The increase is inclusive of depletion from mining in the past 12 months.

The North Pilbara projects comprise the Pardoo and Wodgina mining operations as well as the Mt Dove, Abydos, Mt Webber and McPhee Creek development projects.

Atlas is now exporting consistently at a rate of 6Mtpa and is targeting a ramp up to an export rate of 12mtpa by December 2012, as it commences mining at its other North Pilbara projects being Mt Dove, Abydos and Mt Webber.

"Atlas is now an established iron ore producer and exporter with strong customer relationships. The company has achieved significant growth in resources and reserves in the same period where we expanded production by 600%" Managing Director David Flanagan said. "The whole team are to be congratulated on a brilliant result."

Atlas is continuing to focus on Reserve conversion in the North Pilbara with up to five drill rigs in the field and a particular emphasis on upgrading inferred resources at McPhee Creek. Further infill drilling designed to extend and upgrade resources is underway or proposed at Wodgina, Abydos and Mt Webber.

Further detailed results contributing to the Company's Reserves as well as the Resource Estimate can be viewed at:
http://media.abnnewswire.net/media/en/docs/69057-ASX-AGO-553795.pdf


About Atlas Iron Limited

Atlas Iron ASX:AGOAtlas 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.

abnnewswire.com 


Contact

David Flanagan
Managing Director
Atlas Iron Limited

Ken Brinsden
Chief Development Officer
Atlas Iron Limited

Telephone: +61-8-9476-7900
http://www.atlasiron.com.au



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