Padbury Mining Limited (ASX:PDY) advises that an interview with the company's Managing Director, Gary Stokes, can be accessed on BRR Media's website as well as on the company's website.
To listen, copy the following details into your web browser:
The interview covers the upgrade of JORC resource to 925Mt.
JORC Resource overview (announcement link below):
The Mineral Resource comprises 925Mt at 27.2% Fe, 46.5% SiO2, 3.5% Al2O3, 0.22% P and 0.04% S hosted by magnetite-bearing banded iron formation (BIF) units. The overall increase of 245Mt to the Maiden JORC was offset by a reduction of 170Mt which was contained within BIF 3 as this was considered to be uneconomic, thus making an overall increase of 75Mt to the Maiden JORC Resource.
The delineation and estimation of this upgrade is another significant milestone for the Project and demonstrates the ongoing potential of the Telecom Hill Deposit. The JV partners will continue their strategy of rapid development of the Project and commence a prefeasibility study to provide a better understanding of the economic potential of this upgraded resource and any additional resources that may be defined from further exploration activity.
View the Padbury Mining announcement (JORC Upgraded Resource at Peak Hill Iron Project, 4th October 2012), at the link below: