CZR Resources (ASX:CZR) Obtains Latest Robe Mesa RC Drill Results – The Market Herald

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  • CZR Resources (CZR) receives the latest batch of results from a reverse circulation drilling program at the WA-based Robe Mesa iron ore project
  • The intersections average 55.6% iron and show direct ore mineralization continues between the pits, which CZR says highlights the potential for pit expansion.
  • CZR undertakes various activities as part of a definitive feasibility study targeting three million tonnes of iron ore production per year
  • Additionally, a JORC compliant mineral resource estimate is on track to be delivered in the June quarter.
  • Shares are trading flat at 0.8 cents at market close

CZR Resources (CZR) has received the latest batch of results from its 2021 reverse circulation (RC) drilling program at the Robe Mesa iron ore project in the Pilbara region of WA.

According to the company, the latest assays continued to identify extensive Direct Shipment Ore (DSO) mineralization from surface outside of the Pre-Feasibility Study (PFS) mine plan.

CZR said the significant intersections contained an average of 55.6% iron (62.3% calcined iron), 6.3% silicon, 2.9% aluminum and 0.03% phosphorus.

These averages are similar to Robe Valley fines from Rio Tinto (RIO) and super special fines from Fortescue Metals (FMG).

The new results come from the central and southern portion of the Robe Mesa deposit, where mineralization extends south into the adjacent Rio Tinto Mesa F deposit.

They also show that DSO mineralization continues between the pits, which CZR says highlights the potential for larger pit development.

The expanded pits could support increased mine life and production rates with the Definitive Feasibility Study (DFS) targeting three million tonnes per annum (Mtpa) from the 2Mtpa outlined in the PFS.

“Robe Mesa’s outlook grows stronger with each batch of analysis, as well as the work we do on the DFS,” said general manager Stefan Murphy.

“With a dedicated Study Manager now leading the DFS, we are moving quickly with our plan to complete the DFS and bring Robe Mesa into production.”

As part of the DFS, site work is expected to begin in mid-April ahead of diamond drilling and a metallurgical testwork program. Heritage studies are planned for April and May to authorize additional access to the site, the development of the water well field and the extension drilling.

Following clearance approvals, the company will also begin RC drilling in June.

Additionally, CZR Resources is undertaking a JORC mineral resource for the Robe Mesa project which is expected to be finalized in the June quarter.

The shares were trading steadily at 0.8 cents at market close.

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