Maiden Inferred Mineral Resource Estimate Mount Alexander Magnetite Iron Project
Wednesday, 27 April 2011 11:42
The first JORC reportable Inferred Mineral Resource estimate at Zenith’s 100% owned Mount Alexander project is 392.9 million tonnes at 29.5% Fe.
The Inferred Mineral Resource occupies only about 40% of the volume of the previously announced Exploration Target* of 0.6 to 1.2 billion tonnes at 25% to 35% Fe, indicating the potential for an ultimate resource towards the upper limit of the Exploration Target tonnage range.
Davis Tube Recovery (DTR) tests are in progress and will be released when completed. Previously announced DTR results returned an average weight recovery of 31.8% at a concentrate grade of 69.9% Fe and 3.0% SiO2.
A scoping study to assess development options and the economic potential of the project is in preparation and scheduled for release in April.
