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BC Iron Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Nullagine | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 8/30/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-8-2016: BC Iron Ltd. announces a Resource Estimation report for its Nullagine deposit at the Nullagine project. JV - Updated mineral resources and ore reserves. BC Iron Limited (ASX:BCI) (“BC Iron” or “the Company”) is pleased to report Mineral Resour | |
| Resources: | (Reserve, P+P): 21.6Mt @ 56.5% Fe (DSO) and 6.4Mt @ 54.2% Fe (BSO) | |
| CP/QP: | [Resources]: Robert Williams (Internal) | |
| ABSTRACT: | BC Iron Limited (ASX:BCI) (“BC Iron” or “the Company”) is pleased to report Mineral Resources and Ore Reserves as at 30 June 2016. The Company has a substantial Mineral Resource and Ore Reserves base across a portfolio of operating and development projects in the Pilbara region of Western Australia. BC Iron’s 75% share of Nullagine DSO Ore Reserves had a net increase of 0.7Mt to 16.2Mt as a result of mining activities during the period and maiden estimates for several additional deposits. Approximately 35% of the DSO Ore Reserve is situated in deposits which have either been previously mined or are near existing infrastructure and have minimal overburden. BC Iron’s 75% share of BSO Ore Reserves (product basis) also increased by 0.7Mt to 4.8Mt due to the maiden estimates and the mining and stockpiling of increased levels of low grade material during operations. BC Iron’s share of CID Mineral Resources is 56.6Mt, a decrease of 12.4Mt year on year due to mining activities and rationalisation of some tenements. BC Iron is currently considering a potential restart of operations as part of its review of strategic options for Nullagine. | |
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