Fenix Resources Ltd. said Aug. 21 that its total mineral resource at Iron Ridge iron ore project in Western Australia has increased to 10.5 million tonnes at 64.2% iron, from the previous 9.2 Mt estimate.
The update led to a 51% in the indicated mineral resource to 10.0 million tonnes at 64.3% iron, 3.2% silicon dioxide, 2.6% aluminum oxide and 0.04% phosphorus.
The estimate, which is a result of a recently completed drilling program, is reported above a 58% iron cutoff grade.
Fenix Resources said that its feasibility study for the project is progressing and remains on track for delivery in October.
