egolinews.com

Murchison Metals Limited (MMX) said that its JORC compliant mineral resource at its 50% owned Jack Hills iron ore mine now stood at 3 billion tonnes, allowing the project to now be considered both large scale and long life.

Murchison Metals said that Jack Hills now hosts the largest iron resource in the fast emerging mid-west iron ore province of Western Australia.

”Based on this Resource, Murchison is confident that Jack Hills will be a large scale, multi-decade project yielding substantial cash flows and economic value,” the company said.

Murchison executive chairman Paul Kopejtka said he believed the size and quality of the Jack Hills Resource will underwrite significant future value for Murchison shareholders.

“I look forward to the final BFS for the project, due to be completed in 2010, confirming the potential we see at Jack Hills,” Mr Kopejtka said.

At 1058 AEDT, Murchison Metals shares were up 10c to $2.24.

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