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Atlas Iron Ltd.
Summary
| Project: | Corunna Downs | |
|---|---|---|
| Deposit: | Corunna Downs | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 9/22/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-9-2016: Atlas Iron Ltd. announces a Resource Estimation report for its Corunna Downs deposit at the Corunna Downs project. Mineral resource and ore reserve statement for project. Atlas Iron Limited (ASX: AGO or Atlas) advises on its Mineral Resources a | |
| Resources: | (Reserve, Prob.): 21Mt @ 57.0% Fe | |
| CP/QP: | [Resources]: Leigh Slomp (Internal) | |
| ABSTRACT: | Atlas Iron Limited (ASX: AGO or Atlas) advises on its Mineral Resources and Ore Reserves as at 30 June 2016. Atlas advises that the Mineral Resources and Ore Reserves for its operating mines, Abydos, Wodgina and Mt Webber, reflect production depletion which resulted in record tonnes shipped in FY2016. On 23 December 2015 Atlas released the results of the Corunna Downs project PFS. Corunna Downs Mineral Resources and Ore Reserves at 30 June 2016 are unchanged from the PFS released by Atlas to ASX on 23 December 2015. As flagged in its FY2016 Annual Results announcement dated 30 August 2016, Atlas has reviewed its Ore Reserves for its Horizon 2 projects at McPhee Creek and South East Pilbara (Davidson Creek Hub). Based on current assessments of the ability to fund rail and port infrastructure for these iron ore projects, Atlas has not reported Ore Reserves at 30 June 2016 for its Horizon 2 projects at McPhee Creek and South East Pilbara (Davidson Creek Hub). Atlas continues to report Mineral Resources for these two projects. Atlas is continuing to investigate a trucking based infrastructure solution for its McPhee Creek project based on a similar model to its existing projects and the Corunna Downs project PFS. Should such a trucking based infrastructure solution for its McPhee Creek project be feasible, Atlas may again be able to report Ore Reserves for its McPhee Creek project. | |
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