Fenix Resources' mineral resource breakthrough

Fenix Resources (ASX:FEX) has announced a major update to its Mineral Resource Estimate at the Iron Ridge Iron Ore Mine. The company has reported a 177% increase, bringing the estimate to 13.4 million tonnes with a high-grade iron content of 64.9% Fe as of November 30, 2024. This marks a significant boost from previous estimates, offering insights into future exploration potential.

Fenix Resources' strategic iron ore enhancement

Fenix Resources has significantly bolstered its Mineral Resource Estimate for the Iron Ridge Iron Ore Mine, increasing it to 13.4 million tonnes at a high-grade 64.9% Fe. This update is a result of a successful exploration drilling program, uncovering additional high-grade zones. The company attributes this achievement to its focused exploration efforts and plans further exploration in 2025 to capitalize on identified high-priority targets. Fenix remains committed to sustainable operations, aiming to respect heritage sites and foster local employment. The company will integrate these new findings into a comprehensive review of the Iron Ridge Ore Reserve Estimate, aligning with their strategic growth plans for the future.

Executive insights on Iron Ridge update

We are thrilled with the success of our recent exploration activities that have significantly increased our mineral resource base at Iron Ridge. This substantial increase not only enhances our resource confidence but also paves the way for potential future expansions. Our focus remains on sustainable and responsible operations as we pursue further growth opportunities in 2025.