Padbury Mining initiates flora and fauna assessments at JORC classified project

Padbury Mining (ASX: PDY) continues to move the Peak Hill Iron Project forward with the latest move by the company the appointment of GHD to undertake spring flora and fauna assessments.
These assessments are a significant component of the government environmental approvals process at the project, which currently hosts an Inferred JORC Resource of 850 million tonnes at 27.3% iron.
Gary Stokes, managing director, said making an early start on baseline studies was important to try and avoid delays in project development.
“The environmental approvals process is rigorous and time consuming and project progress can be significantly held up as a result.”
Work on the surveys has started and will include a desktop assessment, a reconnaissance field survey by a botanist and zoologist and the reporting of the results.
The interesting part of Peak Hill is the potential for upside, with the resource defined from just 4 kilometres of a 10 kilometre strike length, allowing for a significant boost in the resource base.
Another key ingredient driving the project forward includes last month’s announcement of above 65% iron from Davis Tube Recovery at the main BIF target.
The results indicate a high-quality concentrate can be achieved, and importantly with low impurities, and mass recoveries of about 22%.
Peak Hill has an exploration target of 3.5 to 5 billion tonnes at 25% to 35% iron, and covers a significant 2500 square kilometres.
The project is a joint venture with where Padbury holds 30% and Aurium Resources (ASX: AGU) 70%.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/18341/padbury-mining-initiates-flora-and-fauna-assessments-at-jorc-classified-project-18341.html