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Fortescue Reports 153% Rise in Western Australia Project Mineral Resource

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Fortescue (ASX:FMG) said the mineral resource for its Blacksmith Project in Western Australia as of June 30 increased 153% to 615 million tonnes at an average iron grade of 56%, compared with 243 million tonnes at an average iron grade of over 59% a year earlier, according to a Thursday Australian bourse filing.

The company said a maiden ore reserve of 196 million tonnes of dry product at an average iron grade of 58% has also been declared, with no ore reserve previously reported for Blacksmith.

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