Yilgarn Mining to expand iron ore focus following key appointment

Perth-based Yilgarn Mining has announced plans to significantly expand its explorat....

  Perth-based Yilgarn Mining has announced plans to significantly expand its exploration and development focus in the iron ore business in Western Australia following the appointment of a senior executive from BHP Billiton Iron Ore Division, Wayne Richards, as Managing Director.Mr Richards – who since 2004 has held the key position of Project Integration & Commissioning Leader for BHP Billiton Iron Ore Division, with responsibility for integrating projects across BHP Billiton’s three Iron Ore Business Sectors (Mine, Port and Rail) – will now spearhead Yilgarn’s plans to advance its 100%-owned Marillana Iron Ore Project in WA’s Pilbara region.Yilgarn Mining recently commenced a 40-hole reverse circulation drilling program at Marillana to in-fill the North-West Sector of the prospect and underpin an initial JORC compliant resource. Yilgarn has previously reported a mineralisation estimate for the North-West Sector of 30 million tonnes grading 58.4% Fe (64% Fe on a calcined basis).Yilgarn’s founding Managing Director, David Burt has stepped down from the position after five years at the Company’s helm.Yilgarn’s Chairman, Ross Norgard said the company was delighted by Mr Richards’ decision to join Yilgarn as Managing Director to advance the development of the company’s assets to the next level. “His appointment is the culmination of a planned management handover after David Burt indicated his wish to step back from front-line executive duties after five years with the company,” Mr Norgard said.Commenting on his appointment, Mr Richards said he had been attracted by the excellent potential of Yilgarn’s iron ore assets and their strong growth potential relative to other junior iron ore companies in Australia. “I look forward to working with the Yilgarn team to advancing their projects to the next level, with the Marillana Project representing the core of a potentially exciting iron ore portfolio in the Pilbara region,” Mr Richards said.“The delineation of a JORC compliant resource estimate for the Marillana mineralisation will represent the first key step in establishing a strong growth platform for the company and achieving a significant value-uplift. “The next important steps will be ongoing exploration to extend the mineralisation and securing an off-take agreement to enable us to commercialise the project,” he said.The Marillana detrital iron ore prospect is located between the Hamersley Ranges and Fortescue River Valley in Western Australia’s world-class Pilbara iron ore region. Yilgarn Mining’s current focus of exploration is the North-West Sector, where drilling last year confirmed continuous, high-grade mineralisation, which the company said is expected to underpin an initial JORC compliant resource.