Fortescue Metals Group has announced an increase of 332 million tonnes to its Resource Estimate for its Solomon Group tenement area.
The total Resource Estimate for Solomon has increased to 2.2 Bt, of which 552 Mt is now classified as an Indicated Resource and 1.7 Bt is classified as an Inferred Resource.
The Solomon Group tenements are located to the north of Tom Price in the Hamersley Ranges of the Pilbara Region of Western Australia.
The group comprises two main sites known as Solomon East and Serenity. This resource upgrade relates to the Solomon East deposit which has been increased to 1.2 Bt.
The details of the Serenity Resource Estimate of 1Bt were released to the ASX on 15 November 2007 and have not changed.
Within the Solomon East project area there are three key sites known as Valley of the Queens, Valley of the Kings and Firetail.
The focus of this resource upgrade is on Valley of the Queens.