Rico Resources has had the June 2009 scoping study on Wonmunna iron ore project updated by AMC Consultants, providing insight into small scale direct shipping ore iron ore mining in the Pilbara region of Western Australia.
The resource extension drilling program is anticipated to commence by the end of June 2011 at the project which is in close proximity to operating mines such as Rio Tinto's West Angelas and BHP's Area C.
Production schedules have been developed for 1 million tonnes per annum, 2 million tonnes per annum and 5 million tonnes per annum options and mine gate sales. There will be production of iron ore fines only, being consistent with lowering overall project risk and significantly lowering capital and operating costs.
The company said work has commenced with AMC to develop a targeted resource definition drilling program to support a feasibility study. Rico is now well advanced on key approvals processes aimed at minimizing start up time and capital costs. The updated report will provide an objective platform for discussions with third parties on development options.
Rico will kick off the Resource definition drilling as soon as possible, which is consistent with Rico's mission of completing all necessary development milestones to allow for the earliest possible time commencement of production. The fauna and flora environmental studies are underway now with the aim of expediting approvals for mining.
The company has an inferred mineral resource of 78.3 million tonnes of iron ore at the strategically located Wonmunna project in the world class iron ore rich Pilbara region.
The company is well funded to undertake further exploration to potentially increase its resource base in 2011.
The resource extension drilling program is anticipated to commence by the end of June 2011 at the project which is in close proximity to operating mines such as Rio Tinto's West Angelas and BHP's Area C.
Production schedules have been developed for 1 million tonnes per annum, 2 million tonnes per annum and 5 million tonnes per annum options and mine gate sales. There will be production of iron ore fines only, being consistent with lowering overall project risk and significantly lowering capital and operating costs.
The company said work has commenced with AMC to develop a targeted resource definition drilling program to support a feasibility study. Rico is now well advanced on key approvals processes aimed at minimizing start up time and capital costs. The updated report will provide an objective platform for discussions with third parties on development options.
Rico will kick off the Resource definition drilling as soon as possible, which is consistent with Rico's mission of completing all necessary development milestones to allow for the earliest possible time commencement of production. The fauna and flora environmental studies are underway now with the aim of expediting approvals for mining.
The company has an inferred mineral resource of 78.3 million tonnes of iron ore at the strategically located Wonmunna project in the world class iron ore rich Pilbara region.
The company is well funded to undertake further exploration to potentially increase its resource base in 2011.
(sourced ProactiveInvestors)
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