Cyclone Metals' Iron Bear Project Phase 1 Results

Cyclone Metals Limited (ASX: $CLE) has announced the successful completion of Phase 1 of the pilot plant test work for its flagship magnetite Iron Bear project. The pilot plant delivered iron ore concentrate grading 71.3% Fe and 1.1% SiO2 with high yields, demonstrating exceptional metallurgical properties of the Iron Bear deposit.

Executive Commentary on Pilot Plant Results

Paul Berend, CEO of Cyclone Metals, expressed satisfaction with the pilot test work, highlighting the production of high-quality magnetite concentrates with very high yields in an industrial setting. He emphasized the company's readiness to supply ultra-high quality iron ore product samples to steel mills and trading houses, marking the beginning of potential off-take and joint venture discussions.

Summary of Iron Bear Project Phase 1 Results

The Phase 1 pilot plant test work for Cyclone Metals' Iron Bear project has yielded exceptional results, with the production of high-grade iron ore concentrate and the commencement of Phase 2 pilot test work. The company's strategy to demonstrate the production of large-scale ultra-high quality, low carbon magnetite concentrates at a competitive cost has shown promising progress. With the updated Mineral Resource estimate standing at 16.6 billion tonnes, Cyclone Metals is poised for further exploration and potential expansion of its iron ore operations. The successful pilot plant results position the company for significant advancements in the production of premium iron ore products and the exploration of potential off-take agreements and joint ventures.