Resource News
Murchison shares up on Jack Hills upgrade
By resourceINTEL · December 21, 2009 · 10:56 pm · Leave a Comment
MURCHISON Metals said today that the certified resource at its 50 per cent-owned Jack Hills project in Western Australia is three billion metric tonnes.
The size of the resource far exceeds Murchison’s most recent guidance of an expected resource between 1.5 billion and 2.1 billion metric tonnes.
Murchison said the three billion tonne resource contains 31.7 per cent iron and includes 2.86 billion tonnes of benefication feed material, 110 million tonnes of direct ship material and 39 million tonnes of near direct ship material.
“Work is now underway to better understand the further exploration potential, with an announcement expected in the first quarter of 2010,” the company said in a statement.
Japan’s Mitsubishi Corporation owns the other half of Jack Hills.
In early trade, Murchison shares are up 5.1 per cent at $2.25…read more at The Australian
