Brisbane, June 30, 2009 AEST (ABN Newswire) - The Board of Mt Isa Metals (ASX:MET) is pleased to announce a maiden Inferred Mineral Resource for the D-Tree Direct Shipping Ore (DSO) Project as follows:
----------------------------------------------------Cut-off Grade BCM Tonnes P2O5% Fe2O3% Al2O3%>/= 25% P2O5 553,000 1,035,000 29.4% 3.0% 2.7%>/= 28% P2O5 441,000 825,000 30.0% 2.4% 2.6%----------------------------------------------------
Table 1: D-Tree DSO Inferred Mineral Resource.
The above estimate is for the high grade portion of D-Tree North within and adjacent to Mining Lease Application MLA90190 and is a subset of the previously announced global Inferred Mineral Resource of 305Mt @ 15% P205 for EPM's 14753 (D-Tree) and 15763 (D-Tree West).
The D-Tree Project is a joint venture between Mt Isa Metals (MET 20%) and Legend International Holdings, Inc. (Legend 80%, manager). The joint venture participants control 100% of the D-Tree deposit and have previously announced plans for the development of a 0.5Mtpa direct shipment operation in the D-Tree North area.
Planning activities associated with the proposed DSO development are well advanced including 'tenders' for the establishment of third-party mining and transport contracts which are forecast to account for a significant proportion of the project operating costs.
Subject to the conclusion of a positive Feasibility Study the D-Tree DSO Project remains on schedule to commence operation in Q4 2009.
Contact
Mr Peter Spiers
Managing Director
TEL: +61-7-3303-0624
MOB: +61-409-407-265
Mr Duncan Cornish
Company Secretary
TEL: +61-7-3303-0624
MOB: +61-407-623-302
Email: info@mtisametals.com.au
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