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Fortescue Metals Group
Summary
| Project: | Solomon | |
|---|---|---|
| Deposit: | Solomon | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 8/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-8-2017: Fortescue Metals Group announces a Resource Estimation report for its Solomon deposit at the Solomon project. Annual mineral resource statement. Fortescue Metals Group (ASX: FMG, Fortescue) presents the attached Mineral Resources statement for | |
| Resources: | (Resource, Inf.): 2,658Mt @ 56.8% Fe at Solomon | |
| CP/QP: | [Resources]: S. Robinson, N. Nitschke, E. Retz (Internal) | |
| ABSTRACT: | Fortescue Metals Group (ASX: FMG, Fortescue) presents the attached Mineral Resources statement for its Western Hub and Greater Chichester Hub Development Properties at 30 June, 2017. The Report updates the Inferred Mineral Resources estimates in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, December 2012 (the JORC Code) as required by the Australian Securities Exchange. The annual summary will be included in Fortescue’s 2017 Annual Report and should be read in conjunction with the enclosed statement. The Western Hub Inferred Mineral Resource has increased by 1.4 billion tonnes (bt) to 2.13bt following a program of exploration drilling. The area includes the deposits of Eliwana and Flying Fish and the previously unreleased deposits of Cobra, Lora, Wyloo North, Elevation, Farquhar, Boolgeeda CID and Zorb. The additional tonnes include high grade Bedded Iron Deposits (BID) in both the Brockman and Marra Mamba Iron Formations, along with Channel Iron Deposits (CID) and Detrital Iron Deposits (DID). Further drilling has been designed to convert selected areas of the Inferred Mineral Resources to Indicated and Measured status as part of the feasibility studies and a further update is expected to be made in coming months. In addition, Fortescue has announced a change in the Mineral Resource inventory at its Greater Chichester Hub with the Inferred Mineral Resources now estimated at 433 million tonnes (mt) following the transfer of the Kutayi deposit to the Chichester operating properties, partly offset by increases in the White Knight and Investigator Mineral Resources. Chief Executive Officer, Nev Power said, “It is pleasing to see this significant increase in the Western Hub Mineral Resources. Ongoing work in FY18 is expected to further increase these Resources as we continue to focus on understanding the potential of both the Western Hub and Nyidinghu as Firetail replacement options.” | |
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