Overview
The Avima iron ore project is today one of the leading high grade world class development projects.
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Our close-spaced helimag survey was completed and a comprehensive diamond core drilling campaign took place. This campaign has delivered a JORC-compliant resource at Avima Centre. Further work continues to increase and upgrade the resource.
The JORC Resource has seen a significant growth in the resource base and the high grade material at Avima. We expect further increase in high grade iron ore volumes.
The JORC Resource has seen a significant growth in the resource base and the high grade material at Avima. We expect further increase in high grade iron ore volumes.
The current Mineral Resource Estimate covers a strike length of approximately 7.5km of the prospective iron ore deposit characterised as a magnetic anomaly and is semi-continuous for up to 18 km in the immediate Avima Ridge area. Additional exploration work will target the strike and dip extensions of the deposit along the entire potential 35 km strike length.
Additional target mineralization is 395 to 540 million tonnes.
Within the target area, approximately 200 - 240 million tonnes have been identified as high grade direct shipping ore ("DSO") with an Fe range of 55 to 66 % Fe. The target extends some 3 km to the West of the Central Zone of the current JORC resource. This may bring the approximate volume of DSO to 1 billion tonnes.
The direct shipping ore quality and enormous size of Avima point to it becoming the most significant project in the region, with its development integral to the development of the region as a whole.
Additional target mineralization is 395 to 540 million tonnes.
Within the target area, approximately 200 - 240 million tonnes have been identified as high grade direct shipping ore ("DSO") with an Fe range of 55 to 66 % Fe. The target extends some 3 km to the West of the Central Zone of the current JORC resource. This may bring the approximate volume of DSO to 1 billion tonnes.
The direct shipping ore quality and enormous size of Avima point to it becoming the most significant project in the region, with its development integral to the development of the region as a whole.
Resource
The Mineral Resource for Avima Centre has been classified according to the guidelines of the Australasian Joint Ore Reserves Committee (JORC, 2004):
- 690Mt @ 58.0% Fe in supergene and mixed cap and haematite oxidised BIF domains; or
- 490Mt @ 65.0% Fe.
- The resource covers a strike length of approximately 7.5km of the prospective iron ore deposit characterised as a magnetic anomaly, that is semi-continuous for up to 18 km in the immediate Avima Ridge area;
- Additional exploration work targeting strike and dip extensions of the deposit over 35 km strike.
Mineral Resource
Notes:
The Mineral Resource Estimate for the Avima Centre, West and East areas were constrained within lithological and grade based volume models as defined from geophysical data, geological logs and assay results of drill core from the current round of drilling.
In addition, Avima Iron Ore has identified significant target mineralisation at Avima. The target mineralisation offers potential to increase the existing JORC compliant mineral resource of 690Mt at 58% Fe and 490 Mt at 65% Fe, by an additional 395 to 540 million tonnes. Details are given in Table 2 below.
Within the target area, approximately 200 - 240 million tonnes have been identified as high grade direct shipping ore (“DSO”) with an Fe range of 55 to 65 % Fe. An extensive drill programme is well underway on the target area which extends some 3 km to the West of the Central Zone of the current JORC resource, to further define and delineate the resource at Avima. The resource upgrade shall be forthcoming to include the current target area
The Mineral Resource Estimate for the Avima Centre, West and East areas were constrained within lithological and grade based volume models as defined from geophysical data, geological logs and assay results of drill core from the current round of drilling.
In addition, Avima Iron Ore has identified significant target mineralisation at Avima. The target mineralisation offers potential to increase the existing JORC compliant mineral resource of 690Mt at 58% Fe and 490 Mt at 65% Fe, by an additional 395 to 540 million tonnes. Details are given in Table 2 below.
Within the target area, approximately 200 - 240 million tonnes have been identified as high grade direct shipping ore (“DSO”) with an Fe range of 55 to 65 % Fe. An extensive drill programme is well underway on the target area which extends some 3 km to the West of the Central Zone of the current JORC resource, to further define and delineate the resource at Avima. The resource upgrade shall be forthcoming to include the current target area
Target Mineralisation
The Mineral Resource shown in Table 1 reports the material considered as "DSO". Within the deposit there is an additional 1.6 Bt @ 36% Fe of material between Fe cut-offs of 30% and 45.5% from all domains including Magnetite BIF that with additional studies, might contribute to the overall Resource.
Geological Modelling and Mineral Resource Classification Geological modelling and interpretation divide the Avima deposit into a series of domains derived from lithological and analysis data. From the surface downwards, the "Mixed" Cap and the "Supergene Cap" represent sub-horizontal zones containing much of the high grade Fe mineralisation.
Below these units are the variably Fe mineralised "Haematite Oxidised BIF" and the "Magnetite BIF", underlain by basal schists. Cross cutting the BIF zones, and strike parallel are steeply northerly dipping alteration zones also containing high grade Fe mineralisation.
Database Validation and Verification of Data The Company has employed an industry standard programme of alternating insertion of blank, standard and duplicate samples on a regular basis within the sample train. The Company uses standards with varying grades which are also alternated. All samples have been assayed at OMAC Laboratories Ltd., part of the Alex Stewart Group, in Ireland.
Both the Mineral Resource Estimate and the estimate of target mineralisation have been prepared by Tetra Tech WEI Inc. ("Tetra Tech"), following the guidelines of the Australasian Joint Ore Reserves Committee 2004 (JORC). The definitions of Resources, Exploration Target and Target Mineralisation as used by the authors, conform to the definitions and guidelines of the JORC code. The deposit is divided into several domains interpreted from material type and associated assay values.
Geological Modelling and Mineral Resource Classification Geological modelling and interpretation divide the Avima deposit into a series of domains derived from lithological and analysis data. From the surface downwards, the "Mixed" Cap and the "Supergene Cap" represent sub-horizontal zones containing much of the high grade Fe mineralisation.
Below these units are the variably Fe mineralised "Haematite Oxidised BIF" and the "Magnetite BIF", underlain by basal schists. Cross cutting the BIF zones, and strike parallel are steeply northerly dipping alteration zones also containing high grade Fe mineralisation.
Database Validation and Verification of Data The Company has employed an industry standard programme of alternating insertion of blank, standard and duplicate samples on a regular basis within the sample train. The Company uses standards with varying grades which are also alternated. All samples have been assayed at OMAC Laboratories Ltd., part of the Alex Stewart Group, in Ireland.
Both the Mineral Resource Estimate and the estimate of target mineralisation have been prepared by Tetra Tech WEI Inc. ("Tetra Tech"), following the guidelines of the Australasian Joint Ore Reserves Committee 2004 (JORC). The definitions of Resources, Exploration Target and Target Mineralisation as used by the authors, conform to the definitions and guidelines of the JORC code. The deposit is divided into several domains interpreted from material type and associated assay values.