Buxton Resources (ASX: BUX) has identified premium metallurgical characteristics of product from the company’s Zanthus Magnetite Project in Western Australia.
Samples from the 2011 reverse circulation drilling program at the Cohen Deposit have undergone Davis Tube testing, with the results building on testing carried out in 2010.
Results from the test work, which was conducted on grind sizes ranging from 500 microns down to 45 microns, show that a high grade iron product can be produced at a very coarse grind size of 150 microns.
The characteristics of concentrate at this grind size include an average grade of 66.4% iron from the four samples, silica content of well under 5% and low levels of potential contaminants, including alumina and phosphorus.
Of the four samples, three showed the potential for a premium saleable product at 150 microns or larger, while one sample required grinding to 106 microns.
Significantly, a premium high grade concentrate averaging about 68% iron and just over 2% silica could be produced at the lower grind size of 106 microns.
These results compare favourably to other magnetite operations or discoveries in Australia, with the coarse grind sizes suggesting low capital, operating and energy costs.
Zanthus is located a couple of hundred kilometres east of Kalgoorlie and has the potential to be a large scale project with its magnetite, good metallurgical characteristics and close proximity to rail infrastructure – reducing capital costs relative to many other magnetite projects.
Buxton has received interest in investment in the Zanthus project from several international parties.
Zanthus maiden JORC Resource
Earlier this month Buxton released a maiden Inferred Resource for the Cohen Deposit of 103.6 million tonnes at 26.5% iron.
The resource, estimated by independent mining consultants Runge, is based on the relatively limited extent of drilling at Cohen to date.
Buxton has previously announced a global exploration target for the Zanthus Project of 0.7-1.3 billion tonnes.