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Brockman Mining announces JV with Brockman Mining

Mining News - Published on Mon, 05 Nov 2018

Image Source: SteelGuru
During the quarter, MRL announced the execution of a Farm-in and Joint Venture Agreement (JV) with Brockman Mining Limited that grants MRL the right to acquire a 50% interest in the Marillana iron ore project (Marillana) in the Pilbara, Western Australia. Under the agreement the JV will initially develop and operate a 20Mtpa iron ore export product capacity, with potential to increase to 30Mtpa.

In order to acquire its 50% interest, MRL must first:
expend A$250,000 on exploration and development activities on the Marillana tenements, and
complete the process design criteria of the processing plant(s), optimise its mine plan study and finalise its mine development layout plan.

Development of the mine site is estimated at A$300 million. Expenditure will be split 50:50 between Brockman Mining and
MRL.

In September 2018, the first stage of the Marillana Mine commenced. This stage will see an access road constructed along with the excavation of 4,000 tonnes of iron ore, which will be metallurgically tested at MRL’s Iron Valley crushing facility.

Hexagon Resources – McIntosh Graphite Development
MRL and Hexagon Resources Limited (ASX: 130718) announced the joint venture had commenced a feasibility study for the McIntosh flake graphite project located in the East Kimberley region of Western Australia. The feasibility study comprises a comprehensive drilling program of c.12,000 metres that commenced mid-August 2018.

The aim of the drilling program is to test the resource potential of new targets east of the known resource, confirm and upgrade existing targets and resources and generate approximately 17 tonnes of core samples for metallurgical test work.

The drilling program is due for completion at the end of October 2018, with assaying and metallurgical studies being completed over the remainder of the year.

Highlights to date:
90 metres of shallow graphite mineralisation intersected at the new Mahi Mahi target
Drilling at the Emperor Mineral Resource indicates mineralisation occurs at shallower levels than previously interpreted, and generally confirms previous interpretation. Samples successfully collected for metallurgical testing
Drilling at the Wahoo resource has confirmed current interpreted mineralisation and metallurgical samples have been collected for analysis.

Source :

Posted By : Rabi Wangkhem on Mon, 05 Nov 2018
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