The explorer’s flagship ‘Robe Mesa’ project sits in the shadow of the Rio Tinto-led 30Mtpa Robe Valley mining joint venture, stoking speculation that it may be a takeover target for the mining behemoth.
Adding fuel to the fire is a current drilling program by the JV, which has gone right up to the project boundary.
Literally.
ZR’s Robe Mesa deposit in the foreground, with Rio Tinto drill lines and pads cleared to the CZR tenement boundary. Pic: CZR
CZR’s focus during the last quarter was drilling to grow and increase confidence in the 37.5Mt at 56% Fe (62.6% Fe calcined, 55% Fe cut-off grade) Robe Mesa resource to allow for a bigger, longer life 3Mtpa operation.
On 23 June, CZR announced it had received heritage clearance to commence drilling the northern strike extension, “providing a significant boost to the company’s strategy to grow the mining inventory at Robe Mesa”.
A project DFS is ongoing.
