StockMarketWire.com - Strategic Minerals, the iron ore focused production and exploration company, has received an estimate of significant silver deposits at its Queensland Iron Glen Prospect.
Consultants have also estimated through preliminary Davis Tube Testwork that Iron Glen contains an inferred in ground resource of 630,000 tonnes of potential magnetite concentrate.
The CEO of Strategic Minerals, David Weidemier, said: "The JORC compliant estimates for Iron Glen iron and silver assets add tangible assets to the company's balance sheet which complement its Cobre Iron Ore project in New Mexico.
"The additional copper results demonstrate the polymetallic nature of these skarn deposits and the scope for additional discoveries at Iron Glen."
At 10:27am: (LON:SML) Smallbone share price was +0.5p at 11.25p
Story provided by StockMarketWire.com
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