Coziron announces W. Sumatra iron sand project resource estimate

Australian mineral explorer Coziron Resources announced on Tuesday that its Agam iron sand project in Agam regency, West Sumatra has inferred resource of 9.72 million tonnes of Fe.

The company said that the result was obtained after conducting initial drilling of 20 test pits holes within 600-hectares of area.

?The Agam Iron Sand project proved to be economically viable. However, it needs further drilling to identify the limits of mineralisation zones. The 8000m Rotary Air Blast (RAB) drilling program has to be implemented within the next few months to enhance mining opportunities in the foreseeable future,? the company said.

Coziron has 80 percent stake in the project through partnership Indonesian partner PT Galian Endapan Buana (GEB) with a total licensed area of 3960 hectares.

Coziron has also signed this month a legally binding term sheet with the Chinese based company WUHAN TONGRUI Industry and Trade Ltd (WUHAN) to develop the Agam Iron Sand Project.(denny)