Mount Ida is a wholly owned magnetite development on mining lease M29/414 in Western Australia's Yilgarn region. Its current JORC 2012 resource is 1.846 billion tonnes at 29.48% Fe, with testwork supporting a concentrate grading about 66.7% Fe. The resource rests on 465 holes and approximately 99,308 metres of drilling, including diamond holes used for geotechnical and metallurgical work. A feasibility study was about 70% complete when expenditure was suspended in 2012-2013 after preliminary capital and operating costs exceeded the 2011 scoping assumptions. Juno's current strategy is to secure a substantial earn-in partner capable of completing the feasibility study and developing the project. The mining lease is granted, but no current complete economic model, reserve or final investment decision is public.
- Country
- Australia
- Commodity
- Fe
- Stage
- Feasibility