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POLARIS METALS NL - ASX: POL
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Description
Polaris Metals NL is an aspiring Australian iron ore producer, listed on ASX and dedicated to developing its quality portfolio of iron ore assets. The company holds iron ore tenements spanning over 6,000 km2 across Western Australia’s premier iron regions of the Pilbara and the Yilgarn. In addition, Polaris has an experienced management team with the expertise to develop these assets through to production.
Yilgarn Iron Ore Project
The project consists of five prospects spread over 50km, with significant direct shipping ore (DSO) grade iron mineralisation. Some 80-90Mt were established by previous explorers’ drilling (e.g. Bungalbin East, J4 and J5), with new prospects (Carina, and Chamaeleon) found by Polaris. With a target potential of 100-150Mt, the Company believes the Yilgarn Project is capable of sustaining exports of 5Mt of iron ore annually for up to 20 years, subject to securing environmental approvals.
Weelumurra Iron Ore Project
The Weelumurra Project is comprised of the Weelumurra and Caliwinga Prospects, and is 170-185km south-east of Dampier and in proximity to Fortescue Metals Group’s Solomon East prospect (stated to have an inferred resource of 0.7 billion tonnes of iron ore at 56% Fe) and the Serenity Prospect (stated to be a 1.0 billion tonne deposit at 56% Fe).
Bullfinch North Project (Mayfield)
The Bullfinch North Project contains a number of DSO and magnetite iron prospects, with the most significant being Mayfield and Fish Hook, and lies 80km north-west of Southern Cross. The Mayfield deposit has been drilled by previous explorers and was the subject of a scoping study completed in 2005. The mineralisation consists of high grade magnetite ore (45-50% Fe) covered by relatively shallow horizon of potentially direct shipping hematite-goethite iron ore. A target resource potential of 70-90Mt has been estimated and metallurgical test work suggests the potential for high grade concentrates in excess of 69% Fe with low silica, alumina and phosphorous.
Mine For
iron ore
Location of operation(s)
Western Australia
Address
Level 2 , 123A Colin Street
WEST PERTH, WA, AUSTRALIA
Phone
(08) 94813030
Website
http://www.polarismetals.com.au
Last Updated
19/05/2008
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.