Royal Resources update on Razorback Ridge
2011-07-18 09:34:37 [Print]
Royal Resources has delivered a substantial upgrade to the Inferred JORC Resource at Razorback Ridge and importantly the upgrade was met with less than 60% of the company's planned drilling.
The resource at Razorback Ridge Razorback West Interzone prospect, part of the Razorback Iron Ore Project in South Australia, is 537.2 million tonnes at 25.5% iron.
Royal Resources is already eyeing future resource upgrades, saying that there is excellent continuity between three prospects providing the potential for upside.
Mr Marcus Flis MD commented that "The value of Razorback’s access to existing, open access rail and port is emphasized by the events around the proposed Oakajee Port development in Western Australia and how its uncertainty has directly affected the feasibility of an entire iron ore district."
The resource has been calculated to a depth of 240 to 300 metres and is based on a geological cut-off, with the company saying the grade changes dramatically at the contacts of the orebody.
The resource remains open to the west, the east, and down dip, with resumption of drilling expected in the next few weeks.
The resource at Razorback Ridge Razorback West Interzone prospect, part of the Razorback Iron Ore Project in South Australia, is 537.2 million tonnes at 25.5% iron.
Royal Resources is already eyeing future resource upgrades, saying that there is excellent continuity between three prospects providing the potential for upside.
Mr Marcus Flis MD commented that "The value of Razorback’s access to existing, open access rail and port is emphasized by the events around the proposed Oakajee Port development in Western Australia and how its uncertainty has directly affected the feasibility of an entire iron ore district."
The resource has been calculated to a depth of 240 to 300 metres and is based on a geological cut-off, with the company saying the grade changes dramatically at the contacts of the orebody.
The resource remains open to the west, the east, and down dip, with resumption of drilling expected in the next few weeks.
