Big step for little company
Midas Resources has revealed its maiden mineral resource estimate for the West Pilbara iron ore deposit.
While the indicated resource of 11.5 million tonnes of ore grading 53.1 per cent iron may be dwarfed by many of the region’s larger miners, it is a big first step for the company.
Midas CEO Geoff Balfe said the results came from the first drilling program and represent rapid progress considering the tenement was only granted in February this year.
“Midas intends to expand its iron ore resource base through exploration and acquisition and we will continue to move projects to the next stage,” he said.
In the case of West Pilbara, the company will investigate the scope of a metallurgical test program to determine the suitability of the iron ore to be upgraded and also preliminary scoping level studies into mining and access to infrastructure.”
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