Join our daily newsletter At The Bell to receive exclusive market insights
- CZR Resources (CZR) begins a 7800-metre reverse circulation (RC) drilling program at the Robe Mesa iron ore project in Western Australia
- This drilling will upgrade inferred resources to the indicated category and close up drill hole spacing to assist with the feasibility study
- Drilling is expected to take roughly five weeks with samples to be submitted to the assay laboratory at regular intervals
- Once received, CZR will use the results for a range of geotechnical, geochemical, metallurgical and mining-related studies
- Shares in CZR have been trading steady at 0.8 cents since September 22
CZR Resources (CZR) has begun a 7800-metre reverse circulation (RC) drilling program at the Robe Mesa iron ore project in Western Australia.
This drilling has been designed to continue upgrading inferred resources to the indicated category and close up drill hole spacing to assist with the mine scheduling element of the feasibility study.
The drilling forms part of the definitive feasibility study that is currently underway at Robe Mesa.
A pre-feasibility study (PFS) undertaken in December 2020 determined the deposit is technically robust and has the potential to generate strong financial returns.
Additionally, the PFS showed that Robe Mesa could generate a life-of-mine cash flow of $96.4 million with a proposed target production of two million tonnes-per-annum of direct shipping ore.
Drilling is expected to take roughly five weeks with samples to be submitted to the assay laboratory at regular intervals.
Once received, CZR will use the results for a range of geotechnical, geochemical, metallurgical and mining-related studies.
In addition, a range of stakeholder meetings will be scheduled to discuss options and timelines towards development.
Shares in CZR have been trading steady at 0.8 cents since September 22. The company has a $27.89 million market cap.
