Exploration Company Mindax Resources says the Yilgarn area of Western Australia is shaping as a significant new iron ore province.

Mindax has announced drilling results at its Mount Forrest project which indicate a magnetite deposit of 2.5 billion tonnes.

Mr Greg Bromley MD of the company said it is one of a number of iron ore projects being developed in the region.

He said that "There's been the release in recent months of a one billion tonne magnetite resource about 50 kilometers to the west of us by Jupiter Mines and more recently a private company, Cashmere Iron, announced a figure of around, I think it was one and a half billion tonnes."

(Sourced from http://kalgoorlie.igwn.com.au)