West Melville Metals’ (TSXV:WMM) first comprehensive sampling campaign confirmed significant Direct Ship Ore (DSO) grade intervals and established that the overall tenor of the Fraser Bay deposit appears to be considerably above the average grades of profitable iron mines globally.
As quoted in the press release:
The banded iron formation (BIF) at Fraser Bay can be traced over an exposed strike length of 5.5 kilometres, dips vertically to steeply west and has an apparent thickness ranging from 100 metres to more than 350 metres. Sampling to date has demonstrated the potential for DSO, which is defined as high grade iron ore (typically >60% Fe) that can be mined and shipped directly to market without the need for on-site processing. Exposures sampled during 2012 ranged from 18 metres to 75 metres in length.
West Melville President and CEO Dr. Rory Moore said:
The company is pleased to have exceeded its 2012 objectives of confirming the DSO potential at Fraser as well as getting a first look at the larger, overall iron content of the deposit. Having received results as high as 44.1 metres of 61.2% Fe and determining that the entire length of the Fraser Bay banded iron formation is well-endowed with iron, we are well positioned to move forward in 2013 with our first drill campaign targeted at establishing an initial resource.