Mineral Resources (ASX: MIN) has announced that it has finalised the acquisition of the assets that comprise the Parker Range Project in the Yilgarn region of Western Australia, pursuant to the agreement with Cazaly Resources.
The assets include the tenements that comprise the Parker Range Project including M77/0741, M77/0742, M77/0764, the mining information, contracts and authorisations for the Parker Range Project.
All conditions precedent, as noted in ASX announcement dated 21 August 2019, were either satisfied or waived prior to completion.
Information regarding Parker Range
The Parker Range Project is located 52 kilometres south of Southern Cross, 15 kilometres south-east of Marvel Loch and approximately 400 kilometres east of Perth in the Yilgarn region of south-western Western Australia.
As set out in Cazaly’s ASX announcement on 26 March 2019, the Parker Range project has a Proven and Probable Ore Reserve of 31.4Mt targeting an iron ore fines product grading 56.4% Fe (61.9% calcined Fe) and 0.02% P, 6.0% SiO2 and 2.50% Al2O3.