Helix Resources: initial estimate of 112m tonnes for Yallen iron ore JV
June 4, 2008
June 4th (Iron Ore Daily Post/Press Release) – Helix Resources Limited (“Helix”) is pleased to announce an initial inferred iron ore resource estimate has been undertaken for the Kumina Creek and Robe Exit Prospects covering zones of channel iron deposits (CID) on the Yalleen Joint Venture Project located in the West Pilbara region of Western Australia. The Yalleen Joint Venture is 70% API Management Pty Ltd (API) and 30% Helix and is managed by API.
Helix independently commissioned Runge Limited [“Runge] to prepare the Resource estimate which was based on the information and parameters outlined in Appendix A.
The Joint Venture continues exploration drilling of several other identified iron targets and in-fill drilling on Kumina Creek. Helix considers that this initial resource estimate has scope to be increased with further drilling and inclusion of other identified deposits within the 600km² project area.
The Runge Mineral Resource Estimates for the Kumina Creek and the Robe Exit Iron Ore deposits reach 112.1m tonnes – 68.7m tonnes at Kulmina and other 43.5m tonnes at Robe.