Royal Resources' Razorback iron ore project has increased its resource to more than a billion tonnes.
The 2011 Australian Mining Prospect Awards Explorer of the Year has today announced a JORC resource of 1.25 billion tonnes of iron ore at a grade of 24.4% Fe.
This comes on the back of its announcement of a maiden inferred JORC compliant resource of 677 million tonnes at 23.6% Fe at its Ironback Hill project.
Initial test work at Ironback has even produced concentrates of up to 70.86% from the resource.
According to the company "this interim resource represents only about 65% of the drilling completed on the project".
Royal's managing director Marcus Fils said "the maiden resource at Ironback Hill has realized Royal's strategic plan to define two standalone magnetite deposits.
"We will be moving on to project development as soon as a suitable partner is found," he added.
Razorback Ridge has a JORC inferred resource of 131.5 million tonnes of iron ore at a grade of 23.6%, and an indicated resource of 437.1 million tonnes at grades of 26%; which including its recent inferred discovery at Ironback Hill pushes its resource pass the billion tonne mark.
Late last year Royal made a massive push forward with the signing of a native title agreement for the project.