July 29, 2008
July 29th (The Age) – Junior explorer Fairstar Resources Ltd, which failed in a bid to take over Golden West Resources Ltd this year, says it has made a potential iron ore discovery near Kalgoorlie in Western Australia.
Fairstar said rock chip sampling had potentially discovered an iron ore deposit containing direct shipping ore at the Lindsay Dam tenement 110 kilometres southeast of Kalgoorlie.
The company said the discovery is the first of its kind in the area and only 23 kilometres from the Trans Australian railway.
Fairstar this year failed in its hostile all-scrip takeover attempt of iron ore hopeful Golden West Resources.
Its shares were up 1.5 cents or 10.34 per cent to 16 cents at 1141 AEST.
July 18, 2008
July 18th (Steel Guru) – It is reported that Ispat Industries Limited is poised to get the much awaited iron ore mining lease in Jharkhand. The company is believed to have already received letter of allotment from the government a few days back for a mining lease at Latua in Chaibasa, in West Singhbhum district.
As per report, the mine is estimated to contain reserves of over 100 million tonnes of iron ore with iron content of 64% to 65%. State mining department officials maintained that the company s name has been recommended for allotment of iron ore mines at Latua.
July 18th (Steel Guru) – It is reported that recently China’s Ministry of Land and Resources approved the reconnaissance report and nailed down that Daye iron mine increased 14.12 million tonnes of ore reserves based on the primal 23 million tonnes of magnetite estimated before.
Daye ore mine started its reconnaissance work in March, 2005. After 3 years exploring, primarily estimated its capacity as 23 million tonnes. It established cooperation with scientific research institutions and universities, which gave great technical support to its reconnaissance report.
July 13, 2008
July 13th (Steel Guru) – Advanced Explorations Inc announced new results from Zone C1 drilling on its Roche Bay iron project in Nunavut. To date the company has completed over 5,500 meters of sampling in 2008 that includes 706 meters from previous drilling.
Advanced Explorations said that Hole RB 07 16 has returned a 12 meter interval averaging 45.56% Fe within a broader interval of 85 meters that averaged 29.91% Fe. The high grade intersection occurs in an area that was thought to be predominantly lower grade material. High grade intersections such as this indicate the potential to increase the high grade zone intersected in the northern portion of C1.
Advanced Explorations currently has 4 drills turning with production now close to 1500 meters recently. Advanced Explorations has completed over 6,980 meters of drilling to date this year which includes a number of geotech holes drilled in support of the pre feasibility study plant site locations. Work to date has focused on the C Zone in support of the MAN Ferrostaal study. While much of the drilling has been in fill, AEI has extended the C Zone another 600 meters further along strike to the north. The Company has now drill tested 5000 meters of the over 6000 meters of inferred strike. A total of 25 holes are awaiting assay results.
Mr John Gingerich president & CEO of Advanced Explorations said that “We are very encouraged by the results of this year’s drilling. Results are as expected, but we are seeing the possibility of increasing the extent of the high grade mineralization, as well as, additional zones within the footwall. Getting turnaround of assay results remains a challenge. However, we are working on solutions with SGS Lakefield.”
Advanced Explorations based at Toronto in Canada is exclusively focused on developing high quality iron ore opportunities. In early 2007 the Company expanded its capabilities in iron ore exploration and development with the acquisition of strategic management personnel.
July 11, 2008
July 11th (Steel Guru) – ABC.net reported that Flinders Mines has begun an AUD 8 million drilling program in the Pilbara’s Hamersley Range.
The Department of Industry and Resources signed off on the project last week and the Ashburton Shire has provided approval for the construction of a 20 person camp onsite.
The company hopes to have assessed the area’s iron reserves by the end of the year.
Mr Kevin Wills MD of Flinders Mines said that the company has held tenements in the Pilbara for a number of years but it is the first time it has explored for iron ore.
He added that “We realized we were sitting on an iron ore deposit and we realized that’s a valuable thing. If we found a nice big diamond mine that would also be a valuable thing, but diamonds are some of the hardest types of mines to find.