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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (31394)	1/19/2009 9:08:04 PM
From: LoneClone	Read Replies (1) \| Respond to of 196221

Crusader quadruples Brazilian iron-ore resource miningweekly.com By: Esmarie Swanepoel Published on 19th January 2009 JOHANNESBURG (miningweekly.com) –Minerals exploration-company Crusader Resources on Monday stated that the indicated and inferred resource for its Posse iron-ore deposit, in Minas Gerais in Brazil, had quadrupled to 36-million tons, at an average grade of 43,5% iron. The estimate was more than four times the previous estimate of 7,7-million tons, at 45% iron, which was prepared in May 2008. Crusader stated that the increase was largely owing to the remodelling of the geology and the extension of the inferred resource boundary to the south, and at depth. “The large upgrade to the resource inventory at Posse highlights the potential for a viable mining operation with a much longer life. We already know the mineralisation is easily amendable to simple beneficiation to extract the silica. The other contaminants are very low, especially when compared to a typical Australian ore spec,” said Crusader MD Rob Smakman. “By remodelling the geology, we have been able to define the high-grade, near-surface mineralisation that will be available during the initial mining period. It is envisaged this particular material will be treated by crushing and dry screening over the first two years, to produce lump and coarse sinter feed products.” Smakman added that Crusader’s focus had always been to confirm sufficient, near-surface, high-grade resources to start mining at Posse, and the focus would now shift to concluding the scoping study, securing an off-take agreement, and finalising the necessary permitting.