Posted in | Iron Ore

Grange Resources Looks to Upgrade Southdown Iron Ore Project

Grange Resources Limited has decided to go ahead with a definitive feasibility study at its Southdown iron ore project as its mineral resource estimate has grown to 698 million tones. The resource estimate is the result of a drilling program that was undertaken a year ago.

The $8.3 million drilling program has found that the magnetite resource at Southdown is more than the 654 million tonnes that it was expected to be. This increase in resource is likely to translate into improved ore reserves as well.

Russell Clark, the managing director of Grange Resources, said that the findings will make it easier to boost financier and investor confidence in the overall project at Southdown iron ore. A pre feasibility study was already completed in 2011 and the definitely feasibility study is to be undertaken by the end of the first quarter of 2012.

Grange Resources owns 70% of the Southdown iron ore project. Sojitz Corp, the Japanese trading company holds the remaining 30% stake in the project. The project is located on a 12 km stretch near the Port of Albany on the south coast of Western Australia. The news about the increased resources helped increase the stocks of Grange Resources by 7.8%.

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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