Ausquest has announced a 68% increase in the iron ore resource estimate at its majority-owned Rocklea Channel project in the Pilbara region of Western Australia, following a successful in-fill drilling in 2008.
The project's inferred resource has increased to 63.1 million tonnes grading 53.38% iron from 37.6 million tonnes grading 53.2% iron reported in August 2008. It also includes higher grade components of 28.2 million tonnes grading 55.8% iron, Ausquest said.
The company has reported additional exploration targets for lower grade case at about 10.9 million tonnes and 3.9 million tonnes for higher grade case at similar grades to the inferred resource.
Recent drilling has indicated substantial potential to the south and east of the existing resource, Auquest said.