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Fenix Resources Ltd (ASX:FEX) is expanding its footprint in West Australian iron ore projects with two new tenements in the Weld Range close to the company’s mining operations at Iron Ridge and Beebyn-W11.
These acquisitions comprise the historic Beebynganna Hills iron ore project and an exploration tenement close to Beebyn-W11 – both are subject to grant.
Beebynganna Hills was acquired from Spartan Resources Ltd, and previous exploration there under Giralia Resources NL has indicated the presence of hematite grading up to 65% Fe, with this located only 18 kilometres from Iron Ridge and 13 kilometres from Beebyn-W11.
Proximity from current operations is also relevant for the second tenement – dubbed Beebyn North – which represents a strategic position at the northeast end of the Weld Range, approximately 14 kilometres from Beebyn-W11.
Fenix’s executive chairman John Welborn said these pickups represent the company’s dedication to exploring and mining the iron ore in this region.
“Fenix has demonstrated the extraordinary value that we can unlock from the iron ore deposits of the Weld Range,” he said.
“Since 2020, we have mined more than six million tonnes of high-quality iron ore products from our Iron Ridge Iron Ore Mine, generating more than $800 million in revenues.
“Historic exploration activity in the Weld Range has identified numerous high-quality iron ore deposits and the expansion of Fenix’s regional footprint is a priority to support our plans to continue to grow production volumes.
“We are committed to unlocking the full potential of the region’s iron ore assets for the benefit of all our stakeholders.”
Fenix has been trading at 26.5 cents.
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