The Conversation (0)
Emerging mineral explorer, Burley Minerals Ltd (Burley or the Company) (ASX: BUR) is pleased to announce approvals for its maiden drill campaign at its 70% owned Yerecoin Iron Project, in Western Australia which has not been drilled in over 13 years. The initial drilling programme has DMIRS PoW’s allowing for up to 33-holes consisting of a combination of both RC and diamond drilling at the Yerecoin Main deposits. Magnetite resource areas are targeted for infill drilling to upgraded Resource confidence and provide sufficient metallurgical samples.
- Exploration drilling Programmes of Work have been approved by DMIRS1 to drill at the Yerecoin Main Iron Deposit
- Burley recently executed a new land access and compensation agreement over a key portion of the Yerecoin Main Resource area
- Drilling contracts have now been signed for both RC and Diamond drilling programmes
- An infill drilling programme is planned at Yerecoin Main with the aim of increasing the resource confidence and obtain additional metallurgical samples
- Previous processing test work has confirmed Yerecoin can produce a premium iron concentrate at 68.1% Fe suitable for direct reduction iron (DIR)
- Less than 5% of the worlds iron resources are suitable for green steel made from DIR
Burley’s Managing Director, Mr Wayne Richard’s commented:
“We are delighted to have gained approvals for Burley’s maiden drill campaign at the Yerecoin Iron Project. Yerecoin has resources of 247 Mt than can be upgraded into a premium iron concentrate grade suitable for use in green steel production. This is an exciting project as less than 5% of the worlds iron ore production is capable of being used in direct reduction iron production. Yerecoin also has the added advantage of having potentially multiple infrastructure and transport options for exporting iron product.”
Figure 1: Yerecoin Project location and regional infrastructure - rail network, export ports, high voltage power transmission lines and gas pipeline
About Yerecoin Project
Burley owns 70% of the Yerecoin Project located east of New Norcia, Western Australia and around two hours drive northeast of Perth. Exploration activities carried out on the Project to date on the Project have defined significant JORC 2012 compliant magnetite resources within the Project (incorporating the main and south zones) totalling 247 Mt @ 29.9% Fe (68.1% Fe concentrate grade at 32.1% DTR). A number of historical studies have also been completed assessing the technical and economic viability of an operation.
YERECOIN IRON PROJECT SUMMARY
- JORC 2012 compliant magnetite resources 247 Mt @ 29.9% Fe (68.1% Fe concentrate grade)
- Highly favourable metallurgical characteristics including coarse grind size – 106 micron
- Premium iron concentrate product with low impurity levels suitable for green steel production
- Potential mining and processing options evaluated by historical studies
- Multiple infrastructure options for exporting iron product
This announcement has been authorised for release by the Board of Burley Minerals Limited.
Click here for the full ASX Release
This article includes content from Burley Minerals Ltd., licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.