CSIRO to develop new resource estimation method

CSIRO has partnered with Reedy Lagoon Corporation to create a new resource estimation method which reduces ground disturbance at the Burracoppin iron project in Western Australia.

According to Reedy Lagoon, the CSIRO-led study could lead to a new method of estimating resources with less drilling, which could enable cost savings and prevent ground disturbance.

The research study will determine magnetite resources by relying on geophysics rather than just using drill holes.

It will be undertaken at Burracoppin’s magnetite deposit using previously drilled core to determine the deposit’s properties.

The results will then be used to produce a three-dimensional magnetic model of the mineralisation

CSIRO project leader Jim Austin said that magnetite is a unique metal to use in the study.

“Magnetite resources are unlike any other metal in that the quantity of the resource present (ie. iron) has a linear relationship with both density and magnetisation,” he said.

“This means the total iron resource can theoretically be determined to relatively high precision using geophysical methods alone.”

Reedy Lagoon will aim to develop a 20-30 million-tonne indicated resource at Burracoppin.

Reedy Lagoon held the Burracopping magnetite deposit when it was discovered in 2012 with then joint venture partners Cliffs magnetite holdings, NS Iron Ore Development and Sojitz Mineral Development.

The company is aiming to produce pig iron in Western Australia.

Reedy Lagoon is also targeting gold at its Burracoppin gold project in Western Australia.

It is located 30 kilometres from Ramelius Resoures’ Edna May gold mine.

The research project is part of CSIRO Kick-Start which provides funding and support for Australian start-ups and small businesses to access CSIRO’s research.

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