Market Herald logo

Subscribe

Be the first with the news that moves the market
  • CZR Resources (CZR) expands the mineral resource at the Robe Mesa deposit within its Yarraloola iron ore project in the Pilbara region of Western Australia
  • The company saw a 52 per cent increase in the JORC resource to 37.5 million tonnes at 56 per cent iron
  • This increases the mine life and aligns with the company’s strategy to increase the forecast production rate without comprising the iron ore grade
  • It will assist CZR in reaching its objective to increase production targets in the Definitive Feasibility Study (DFS) to 3 million tonnes per annum
  • Shares are soaring 28.4 per cent higher today at 1.8 cents each at 11:13 am AEST

CZR Resources (CZR) has expanded the mineral resource at the Robe Mesa deposit within its Yarraloola iron ore project in the Pilbara region of Western Australia.

The company saw a 52 per cent increase in the JORC resource to 37.5 million tonnes at 56 per cent iron.

This increases the mine life and aligns with the company’s strategy to increase the forecast production rate without compromising the iron ore grade.

It will assist CZR in reaching its objective to increase production targets in the Definitive Feasibility Study (DFS) to 3 million tonnes per annum.

The growth of the mineral resource is attributed to the success of strong assay results reported in the March quarter.

Managing Director Stefan Murphy said this is a milestone moment for the company.

“These results will feed into the mine planning and design work now underway,” he said.

“At the same time, we are updating our cost model through the DFS, targeting lower transport costs from export locations closer to the Robe Mesa deposit than were considered in the PFS.”

Shares were soaring 28.4 per cent higher today at 1.8 cents each at 11:13 am AEST.

CZR by the numbers
More From The Market Herald

" ResApp (ASX:RAP) receives FDA clearance for SleepCheckRx

ResApp (ASX:RAP) receives 510(k) clearance from the US Food and Drug Administration (FDA) for its at-home…

" Galileo Mining (ASX:GAL) raises $20.4m to expand drilling at Callisto

Galileo Mining (ASX:GAL) raises $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in…
The Market Herald Video

" Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) to commence flow testing at Walyering-6, WA

Joint venture (JV) partners Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) are gearing up to begin…
The Market Herald Video

" Brookside Energy (ASX:BRK) completes isolation plug milling at Flames Well

Brookside Energy (ASX:BRK) successfully completes milling out the isolation plugs used in the multi-stage stimulation at…