FerrAus

FerrAus Limited (ASX: FRS) is a junior exploration company based in Australia with its focus on the discovery and production of ferrous raw materials, including iron ore, manganese, and nickel. The company has four exploration licences located in the East Pilbara region of Western Australia with excellent potential for iron ore and manganese deposi... ts. The priority project is Robertson Range where recent drilling has defined a near surface Inferred resource of 16.3 million tonnes at 56.8% Fe, 0.09% P, 6.3% SiO2, 3.6% Al2O3 and 8.9% LOI (no cutoff grade applied). This resource is compliant with the guidelines of the Joint Ore Reserve Committee (JORC) of the Australian Institute of Mining and Metallurgy (2004). Based on these significant results, the company has applied for a mining lease (M52/1034) to allow for detailed evaluation studies of the Robertson Range iron ore resource and advance the schedule for potential mine development. The current target for production of iron ore is 1-2 million tonnes per year starting in 2007. Systematic regional exploration is underway on all the East Pilbara exploration licences with early success in locating mineralised targets. These targets will be explored and evaluated over the next few years with good potential to discover additional deposits of iron ore and manganese. In addition, the company holds exploration and mining licences located in the Eastern Goldfield region of Western Australia with excellent potential for nickel and gold deposits. These licences are being explored under a joint venture arrangement with Mithril Resources. FerrAus Limited has significant competitive advantages compared to other junior exploration companies that suggest the likelihood of low cost, near-term production including: Defined resource of primary Marra Mamba type iron ores containing 58-62% Fe, similar to ores currently being produced in the area Low mine stripping ratios (near surface and shallow dipping) and low contaminants (phosphorus ~0.09%) Strategic location only 50km from ...Read More