Connect with us

Hi, what are you looking for?

Investing

Significant Mineral Resource Upgrade for Project Iron Bear

Cyclone Metals Limited (ASX: CLE) (Cyclone or the Company) is pleased to announce the release of an upgraded JORC compliant Mineral Resource Statement, for its 100% owned Iron Bear Iron Ore Project, located in the Labrador Trough region of Canada.

HIGHLIGHTS

Indicated and Inferred Mineral Resource of 16.6 billion tonnes containing 29.3% total Fe and 18.2% magnetic Fe, cut-off grade 12.5% magnetic Fe.Indicated Mineral Resource of 2.15 billion tonnes containing 28.68% total Fe and 19% magnetic Fe.Upgraded mineral resource statement supported by geophysical analysis (including the development of an inversion model1), geophysical statistical analysis and pilot plant metallurgical test work.Ore body characteristics suggests that reasonable prospects exist for eventual economic extraction.Low stripping ratio, with negligible overburden.Location less than 25 km from existing open access railway.Access to local low-cost renewable hydropower.Pilot plant metallurgical test work confirms that reasonable prospects exist for eventual economic extraction:Production of a Direct Reduction grade concentrate grading 70.6% Fe and 1.2% SiO2 with an overall magnetic Fe yield of 88.9%2Production of a Blast Furnace grade concentrate grading 68.9% and 3.4% silica with a magnetic Fe yield of 95.5%Very low deleterious elements (P, MnO etc)Favourable grindability indices of BWi = 16.7 kWh/t and SMC = 11.7 kWh/t

About The Iron Bear Project

The Iron Bear Project consists of ten licenses totalling 7,275 ha on 291 graticular Mineral Claims under the applicable Labrador and Newfoundland mining regulation, located near the Provincial border of Newfoundland and Labrador (NL) and Quebec (QC), approximately 30 km northwest of the town of Schefferville, QC and 1,200 km by air northeast of Montréal, QC.

The mineralisation is typical of the Labrador Trough, being a magnetite/hematite taconite. The Labrador Trough is a 1,600 km long and 160 km Canadian Proterozoic volcanic and sedimentary basin that extends from Ungava Bay south-southeast through Quebec and Labrador. The Labrador Trough has supported iron ore mining operations since 1954.

Click here for the full ASX Release

This post appeared first on investingnews.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    LIVE OAK, Fla. — President Biden traveled to Florida on Saturday to survey the damage caused by Hurricane Idalia, part of a storm response...

    Stock

    President Biden is asking his Cabinet to ‘aggressively execute’ plans for federal employees to return to their offices for work this fall after years...

    Economy

    Union members at Ford, Stellantis and General Motors have ratified a new 4½-year contract, locking in at 11% pay increases secured after a six-week...

    Stock

    A group of House Democrats penned a letter Thursday to several top Biden administration and White House officials, demanding the immediate continuance of uninterrupted...

    Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 beneficialinvestmentnow.com