BC Iron commences Bonnie Scoping Study

Emerging Perth-based iron ore company, BC Iron is set to unveil a maiden...

  Emerging Perth-based iron ore company, BC Iron is set to unveil a maiden resource estimate for its 100%-owned Nullagine Iron Ore Project, located in Western Australia’s Pilbara region, after yesterday announcing the commencement of a Scoping Study over its flagship Bonnie Creek Channel Iron Deposit (CID).The Bonnie Creek CID encompasses the two most advanced deposits within BC Iron’s portfolio, Coongan Well and Outcamp Well, where the company has enjoyed considerable exploration success over the past nine months. The company said an initial JORC-compliant resource estimate over these deposits is scheduled for the March quarter 2008.BC Iron’s Managing Director, Mike Young said the Scoping Study would examine a potential start-up Direct Shipping Ore operation at Bonnie Creek at an initial production rate of three million tonnes per annum, as part of the company’s strategy of bringing the Nullagine Project into production as early as possible.“This will be a pivotal year for BC Iron with the announcement of an initial resource estimate and commencement of a Scoping Study at Bonnie Creek—all of which comes just over a year after our listing on the ASX,” Mr Young said. “I am very pleased with the excellent progress we have made to date, and we are now looking forward to taking the Nullagine Project to the next level.”The Bonnie Creek Channel Iron Deposits, Coongan Well and Outcamp Well, are the most advanced iron ore targets drilled by the company to date, with a combined exploration target of between 20-30 million tonnes at a grading of 55-58% Fe.“The Scoping Study will examine the feasibility of a standalone operation at Bonnie Creek, but with the ability to expand rapidly with ‘bolt-on’ acquisitions as additional sources of ore are developed,” Mr Young said.