Magnum Mining and Exploration (ASX:MGU) says recently completed test work confirms a +68% Fe product can be produced, following recently completed metallurgical test work on ore from its Buena Vista Green Pig Iron project mine site in Nevada, USA.
Two ore types were tested: medium grade and low grade ores, with grind size recovery tests showing that medium grade ores could deliver a 68.4% Fe product with a 48% weight recovery at an industry standard grind size.
Magnum Mining also says minimal changes will be necessary to the previously designed plant to achieve a high-grade product, and that the ore hardness test indicated lower power requirement than its peers.
It says test work will feed into the currently scheduled Scoping Study to update historic CAPEX and OPEX estimates as a prelude to embarking on a Prefeasibility Study.