Cerro Resources makes headway at Mt. Philp

摘要

A new resource estimate for the Mount Philp hematite ironprospect in Northwestern Australia shifts more inferred resources into the indicated category but has failed to lift the shares of Cerro Resources (CJO-V, CJO-A).Indicated resources — which make up 63% of the total resource of the Mount Philp deposit — now stand at 19 million tonnes grading 41% iron and 38% silica. Inferred resources add another 11.4 million tonnes of 34% iron and 48% silica.