Murchison Metals has also announced an upgrade to the total iron ore resources at the Jack Hills Iron Ore Project in Western Australia.
The world-class project now boasts resources in excess of one billion tonnes.
The Jack Hills resource stands at 96 million tonnes at 58.7% Fe direct shipping ore (DSO) and 991 million tonnes at 34.1% Fe beneficiation feed.
The DSO resource is sufficient to support a significant expansion of the existing high-grade direct shipping operations at Jack Hills.
The proposed Stage 2 expansion of the project would make it the premier large-scale, long-life iron ore producer in the mid-west region of Western Australia.
The Jack Hills project is owned and operated by Crosslands Resources Limited. Crosslands is owned 50% by Murchison Metals and 50% by Mitsubishi Development.