Grange Resoruces Ltd., and Shree Minerals Ltd., signed an Memorandum of Understanding to increase potential production at Savage River, Tasmania, Australia.
Grange Resources Limited (Grange) is pleased to announce the discovery of two additional magnetite lenses at its Savage River mine in an area of pre-stripping. They were identified using ground magnetics, and a preliminary exploration drilling program has confirmed the potential for two additional high grade lenses. These lenses are contained within Grange’s existing mining lease (2M/2001) and have already been mined at surface. The lenses are located at the northern end of the Savage River magnetite deposit which lies within and near the eastern margin of the Proterozoic Arthur Metamorphic Complex in north western Tasmania, Australia.
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