Iluka today announced the discovery of the Endeavour heavy mineral (“HM”) deposit, in the Murray Basin, New South Wales.
Key components of the attached release:
� An Inferred Resource of 7.6 million tonnes of HM has been estimated for this deposit
� Located ~35 kilometres north of the town of Balranald & ~9 kilometres east of the Iluka owned West Balranald deposit
� At a 3% HM cut-off grade, the deposit is approximately 12 kms long, 80 metres to 100 metres wide, 4 metres to 7 metres thick and is located beneath 60 metres to 71 metres of sedimentary overburden (similar depths to the West Balranald strandline)
� The Endeavour deposit, as with the Nepean deposit announced in February 2008 and the Minsk discovery announced in September 2007, represents the successful application of Iluka’s regional exploration strategy over its extensive Murray Basin tenements
� An important operational consideration associated with the "West Balranald style” deposits, including Endeavour, is their greater depth and increased overburden removal requirement relative to deposits currently being mined in the Murray Basin
� A pre-feasibility study for the West Balranald deposit will advance previously completed technical and economic assessments and will also identify operating strategies aimed at improving economic margins. Such strategies should in turn be applicable to other West Balranald style deposits, such as Minsk, Nepean and Endeavour.
2008 Endeavour Heavy Mineral Inferred Resource
(>3% HM cut-off grade)
Mineral Resource Category |
Material
Tonnes (Million) |
In Situ HM
Tonnes (Millions) |
HM (%) |
Clay (%) |
HM Assemblage |
Ilmenite (%) |
Zircon (%) |
Rutile*
(%) |
Inferred |
7.6 |
1.95 |
25.5 |
2 |
58 |
9 |
16 |
*Includes non-magnetic leucoxene
Regards
Rob
Robert Porter | General Manager Investor Relations and Corporate Affairs
Iluka Resources Limited | Level 23, 140 St Georges Terrace | Perth WA 6000
Phone +61 8 9360 4751 | Mobile 0407 391 829 | Fax + 61 8 9360 4336
robert.porter@iluka.com