Centrex builds its resource at Bungalow
25th May 2012
ADELAIDE, May 25 – Bungalow magnetite iron project operator Centrex Metals is aiming to complete a preliminary feasibility study on the Eyre Peninsula, South Australian project by late 2012 following a 230% increase in the mineral resource estimate.
The 338Mt measured, indicated and inferred mineral resource by AMC Consultants has an average grade of 29.6% Fe head, 69.7% Fe concentrate and 34.3% Davis Tube Recovery (DTR).
Studies undertaken for the Bungalow PFS indicate a route to market for Bungalow will be via a 100km pipeline to Port Spencer.
Centrex currently holds 70% in the Bungalow joint venture. Chinese miner/steelmaker Baotou Iron and Steel Group may increase its 30% interest to 50% by funding $A16M of a definitive feasibility study.
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