Adelaide-based iron ore miner Centrex Metals has reported an
increased 338 million tonne resource at its Bungalow Magnetite
project, on the Eyre Peninsula, in South Australia.
Estimated grades and mass recovery of the resources are high
with an average head grade of 29.6% iron and 69.7% iron
concentrate, Centrex said on Friday May 25.
The increased resource will pave the way for delivery of an ore
reserve in the next few weeks, before completion of the
Bungalow Pre-Feasibility Study, due in late 2012, Centrex said.
Some 185.8 million tonnes of the total 239 million tonnes at
the Bungalow deposit are in the indicated categories, while
53.3 million tonnes is inferred, Centrex added.