46% increase in resources at Jack Hills
Murchison Metals has confirmed the world-class stature of its flagship Jack Hills Project with the announcement of a significant increase in the Mineral Resource at Jack Hills to 97 million tonnes, reported in accordance with the JORC Code.Murchison said the increased Mineral Resource covers approximately 20 percent of the total strike length to be tested under the resource expansion drilling program underway at the project.The upgraded Mineral Resource represents an increase of 46 percent on previously reported resources at Jack Hills. The latest resource also includes a significant increase in the confidence level of the resource, with the Indicated Resource increasing from 7.7 million tonnes to 66.4 million tonnes. This Mineral Resource estimate is an interim upgrade as part of the ongoing bankable feasibility study into the expansion of production at the Jack Hills Project to 25 million tonnes per annum. All of the current Mineral Resource increase is contained within the Saddle zone, one of five target zones currently being drilled by Murchison to expand its resource inventory at JackHills. Murchison said the mineral resources at Mt Matthew, Mt Hale, the Brindal Lens and the North East Ridge were still to be estimated. The Saddle zone is immediately adjacent to the current open pit at JackHills, comprising three lenses. The Mineral Resource estimate is based on mineralisation at the Saddle zone to a maximum depth of approximately 300m. The Saddle zone mineralisation remains open at depth. The upgraded Mineral Resource is part of an extensive drilling program underway at JackHills designed to expand Murchison’s iron ore resources and to define the extent of mineralisation at the project in conjunction with detailed metallurgical test work. Data from Murchison’s ongoing exploration program will enable detailed mine design and pit and process optimisation to be completed as part of the company’s bankable feasibility study.