Magnetite Mines Limited (ASX:MGT) (Magnetite Mines or the Company) is pleased to announce that it has appointed Foraco Australia Pty Ltd (Foraco), a leading global mineral drilling services company, to undertake a metallurgical bulk drilling program at the Razorback Iron Ore Project (Project). The drilling program aims to collect bulk samples for a metallurgical testwork program as designed by global engineering and processing experts, Hatch. The samples and related testwork derived from the drilling program represent a critical input to process flow sheet design and optimisation required towards AACE guidelines for a Class 3 estimate (18R-97) in line with Definitive Feasibility Studies.
The metallurgical drill program has been designed to test mineralisation as contained in mining pit shells representing early year processing feed (years 0-5) and includes near-surface (oxidised) mineralisation in addition to deeper fresh rock mineralisation. Drilling will occur at new drill sites positioned at intermediate points between previous drilling fence lines to improve resource and geological definition at these locations.
Building on the Company’s extensive drill hole database, the metallurgical drilling will initially target the Iron Peak deposit with 12-25 wide diameter ‘PQ’ diamond core holes planned. The drilling will supply the metallurgical testwork program with up to 8500kg of drill core material to undertake detailed comminution, grinding, flotation and characterisation testwork. The results of the testwork will inform process design and engineering criteria for the processing plant and provide excellent coverage and delineation of early-year processing needs. Associated drilling testwork will include high resolution Davis Tube Recovery (DTR) testwork, together with downhole geophysical testwork, geochemical analysis and characterisation studies. In tandem with the Iron Peak drilling and sampling program, existing drill core samples are being submitted to globally-recognised laboratory Bureau Veritas for testwork towards confirming metallurgical inputs for processing engineering design at the Razorback Prospect.
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