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Centrex reports increased iron ore resource at Bungalow Magnetite project


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.

Christopher Rivituso

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