14:49 AEST Feb 21, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.
Perth, Australia (ABN Newswire) -
Padbury Mining Limited (ASX: PDY) and its Joint Venture partner
Aurium Resources (ASX: AGU) have appointed CSA Global to carry out a pit optimisation and mine planning study for its flagship Peak Hill Iron Project in Western Australia's Mid West region.
The work will provide important data that will contribute to the progress of a pre-feasibility study, which is the next targeted stage of project development.
The optimisation study will focus on magnetite mining and processing, taking into account the project's Inferred JORC compliant magnetite resource to date (850Mt @27.3% Fe), to help determine the most economically and technically feasible means of developing the project.
Further work will be done in coming months to model a direct shipping ore mining operation, if recent encouraging drilling results allow the delineation of a maiden Direct Shipping Ore (DSO) resource.
Managing Director Gary Stokes said the work would help set the parameters for viable mining operations at Peak Hill.
'This is the next necessary step in the strategic development of Peak Hill,' he said.
'We are focused on moving the project forward and have been encouraged by extremely positive drilling results from our recent resource evaluation program - for both magnetite and direct shipping ore.'
Evaluation drilling continues on site targeting magnetite deposits and testing for extensions to the DSO mineralisation announced on February 20.
About Padbury Mining Limited:
Padbury Mining Limited (ASX:PDY) is a Perth-based, ASX-listed mineral exploration company focused on the development of its significant iron ore assets in Western Australia's Mid West region.
The company's flagship Peak Hill Iron Joint Venture is a highly prospective magnetite and hematite iron ore project located at Robison Range, about 450km north east of Geraldton.
The Company has a solid program of work planned to develop the Peak Hill project over the next three years, with production targeted for 2015-2016.
Contact:
Gary Stokes
Managing Director
Padbury Mining Limited
T: +618-6460-0250
Terry Quinn
Managing Director
Aurium Resources
T: +618-6460-0250
Media: Tamatha Smith
T: +618-6460-0250
M: +61-433-569-701
