Brockman Mining (ASX:BCK) said the firm's joint venture with Mineral Resources (ASX:MIN) is advancing work at the Marillana iron ore project in Western Australia, according to a Tuesday Australian bourse filing.
Mineral Resources unit Polaris Metals holds a 50% interest in the Marillana iron ore project after meeting farm-in obligations under an earlier agreement.
Confirmatory technical work and due diligence by Polaris showed that a modified process flow sheet could provide enhanced yields of over 45% whilst maintaining product quality above 62% iron.
The firms are working on updated environmental management and monitoring plans, the filing said.
Polaris also holds a 50% stake in the Ophthalmia iron ore project, also in Western Australia. The firm and Polaris plan to carry out geological mapping and drilling at the Three Pools and Hancock Range prospects at the project in 2025.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.