Cerro Resources NL (ASX:CJO,TSXV:CJO) announced an updated resources estimate on its Mt. Philp haematite iron project.

As quoted in the press release:

Highlights

• Indicated Resource of 19Mt averaging 41% Fe and 38% Silica
• In addition, an Inferred Resource of 11.4Mt averaging 34% Fe and 48% Silica
• 63% of the resource is in the Indicated category
• Iron/Silica distribution within the resource is consistent with material used in original metallurgical sighter test work

The Mount Philp Deposit is located in Northwest Queensland, approximately 54 kilometres southeast of Mount Isa.

Click here to read the Cerro Resources NL (TSXV:CJO) press release.