Cyclone Metals Ltd (AU:CLE) has released an update.
Cyclone Metals Ltd announces a significant upgrade to the mineral resources of its Iron Bear Project, with an indicated and inferred resource of 16.6 billion tonnes featuring high-grade iron content. The project’s favorable location offers logistical advantages, including proximity to rail access and renewable hydropower, enhancing its economic extraction prospects. Furthermore, successful pilot plant tests indicate the potential for producing high-quality iron concentrates suitable for both direct reduction and blast furnace processes.
For further insights into AU:CLE stock, check out TipRanks’ Stock Analysis page.
