Stellar eyes Bonython port

July 11, 2008

July 11th (Whyalla News) – Whyalla could benefit from a recent hematite discovery.

Stellar Resources Limited has identified potential hematite mineralisation at the Tarcoola iron ore project.

The company said that the drilling has been limited but there is large potential in the area, and the company has indicated that were the port proposed for Port Bonython to go ahead, there would be much more certainty for investors.

“At this point we are only saying there is the potential for hematite but we’re very encouraged by the drilling results,” company chief executive officer, Peter Blight said.

“Stellar Resources believes that the State Government’s initiative at Port Bonython will provide greater certainty for investors considering South Australia’s irone ore projects,” a report released on the company’s May drilling operation stated.

The deposit is located within 10 kilometres of the Trans-Austral Railway and close to the junction of that railway with the Tarcoola to Darwin line.

However, according to Mr Blight, it would be preferable to ship from Whyalla.

Darwin lies 2000 kilometres away from Tarcoola, whilst Port Bonython is only 480 kilometres away.

“Darwin is the other possibility but obviously the freight distance is a big disincentive,” Mr Blight said.

“(Port Bonython) would be the logical port.”

Mr Blight said that at this stage they would only be looking at exporting iron ore from South Australia, however Stellar Resources also has projects in the works throughout Australia, dealing with minerals and bulk commodities such as copper and zinc.

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