- CZR Resources (CZR) receives the last batch of results from a reverse circulation drilling program at the WA-based Robe Mesa iron ore project
- The intercepts average 55.6 per cent iron and show direct shipping ore mineralisation continues between pits which CZR says highlights the potential for pit expansion
- CZR is undertaking various activities as part of a definitive feasibility study targeting three million tonnes of iron ore production per annum
- Furthermore, a JORC-compliant mineral resource estimate is on track to be delivered in the June quarter
- Shares are trading steady at 0.8 cents at market close
CZR Resources (CZR) has received the final batch of results its 2021 reverse circulation (RC) drilling program at the Robe Mesa iron ore project in WA’s Pilbara region.
According to the company, the latest assays have continued to identify extensive direct shipping ore (DSO) mineralisation from surface outside of the pre-feasibility study (PFS) mine plan.
CZR said the significant intercepts average 55.6 per cent iron (62.3 per cent iron calcined), 6.3 per cent silicon, 2.9 per cent aluminium and 0.03 per cent phosphorous.
These averages are similar to Rio Tinto’s (RIO) Robe Valley Fines and Fortescue Metals’ (FMG) Super Special Fines.
The new results come from the central and southern part of the Robe Mesa deposit, where mineralisation extends to the south into the adjoining Rio Tinto Mesa F deposit.
They also show that DSO mineralisation continues between pits which CZR said highlights the potential for larger pits to be developed.
Expanded pits could reportedly support an increased mine life and production rates with the definitive feasibility study (DFS) targeting three million tonnes per annum (Mtpa) compared to the 2Mtpa outlined in the PFS.
“Robe Mesa’s prospects go from strength to strength with every batch of assays, together with the work we are doing on the DFS,” Managing Director Stefan Murphy said.
“With a dedicated study manager now leading the DFS, we are moving ahead rapidly with our plan to complete the DFS and bring Robe Mesa into production.”
As part of the DFS, site works are expected to begin in mid-April ahead of diamond drilling and a metallurgical testwork program. Heritage surveys are scheduled for April and May to provide clearance for additional site access, water bore field development and extensional drilling.
Following clearance approvals, the company will also begin RC drilling in June.
In addition, CZR Resources is undertaking a JORC mineral resource for the Robe Mesa project which is expected to be finalised in the June quarter.
Shares were trading steady at 0.8 cents at market close.