Talon Metals has cranked up the resource estimate for its Trairão iron ore project in Brazil by 60%, the company said today, which puts the inferred resources at over a billion tonnes.
Talon, based in British Virgin Islands, added another 414 million tonnes with an average grade of 33% Fe to its existing two target areas, bringing the total amount of iron ore to 1.102 billion tonnes.
The estimate for Target 3, which is NI 43-101 compliant, was based on the results of 73 reverse circulation holes drilled between January and April of this year. The holes were drilled 112 metres deep over a 7800-metre strike length.
The company currently has two RC rigs and five diamond drill rigs on site. The diamond drilling program is intended to upgrade the mineral resource estimates from inferred to indicated by the fourth quarter of this year.
