IMX Resources Limited has announce the next phase of metallurgical test work on core samples from the Snaefell prospect to produce a coarse high grade magnetite concentrate and evaluate whether it is suitable as a direct sinter feed product for Asian steel makers.

Snaefell, which forms part of the broader Mt Woods Magnetite Project is located 12 kilometer from the Company's Cairn Hill Mining Operation near Coober Pedy in South Australia. Snaefell has an Inferred Mineral Resource1 of 569 million tonne @ 27.1% Fe and remains open at depth.

The previous test work program indicated that the Snaefell magnetite concentrate, which has a target grind size of 180 to 200 microns2 has the potential to produce a premium quality concentrate suitable as an iron making sinter plant feed. The primary objective of the new round of test work is confirmation that a Snaefell magnetite concentrate can be directly sintered thereby removing the costly requirement for pelletization as a preliminary step in steel making.

If confirmed, the concentrate could attract a premium price to traditional magnetite concentrates because of these cost savings. This would also broaden the potential market for these concentrates to both South Korean and Japanese steel producers.

The test work program involves production of a coarse magnetic concentrate in Perth, simulating the process flowsheet developed during the previous testwork. This magnetic concentrate will then be tested for direct sintering as part of various blends with traditional direct-sinter feed materials at the China Iron and Steel Research Institute in Beijing, China.

Meanwhile, the results of this round of test work are expected to advance the process of attracting a partner to develop the Mt Woods Magnetite Project and enable IMX Resources to extract value from its investment in the project.

Source - www.imxresources.com

(www.steelguru.com)