Athena Resources has announced a maiden Mineral Resource Estimate for its Byro South Prospect, significantly expanding its Byro Magnetite Project resources by 160% to 76 million tonnes at 26% iron content.
- Maiden Inferred Mineral Resource of 47Mt at 29% Fe at Byro South
- 160% increase in total Byro Magnetite Project resources to 76Mt at 26% Fe
- Byro South metallurgical properties align closely with flagship FE1 deposit
- Resource classified as Inferred, requiring further drilling to upgrade confidence
- Next steps include economic scoping study and marketing test parcels
Significant Resource Expansion at Byro South
Athena Resources Limited (ASX – AHN) has delivered a major milestone with the release of a maiden Mineral Resource Estimate (MRE) for its Byro South Prospect, part of the broader Byro Magnetite Project in Western Australia's Midwest iron ore province. The new estimate reveals an inferred resource of 47 million tonnes grading 29% iron, a substantial addition that boosts the total project resource by 160% to 76 million tonnes at an average grade of 26% iron.
Context and Geological Setting
Byro South lies approximately 20 kilometres from Athena's flagship FE1 deposit, within a region characterised by layered mafic-ultramafic intrusions and complex Archaean geology. The mineralisation is hosted within migmatite and exhibits promising continuity, supported by a grid of reverse circulation and diamond drilling spaced roughly 130 by 280 metres. The deposit's iron mineralisation is primarily magnetite, with a natural cut-off grade of 22% iron used for resource reporting.
Metallurgical and Mining Outlook
Initial metallurgical test work indicates that Byro South shares similar processing characteristics with the FE1 deposit, producing a magnetite concentrate of approximately 70% iron at a coarse grind size. This suggests potential for efficient open-pit mining and magnetic separation processing methods, with the prospect of supplying niche markets such as coal washery feed or specialty blast furnace inputs. The coarse grain size and favourable recovery rates underpin Athena's confidence in the project's economic potential, although further studies are needed.
Classification and Next Steps
The current resource classification is Inferred, reflecting the early stage of exploration and the need for additional drilling to upgrade confidence to Indicated or Measured categories. Athena plans to advance the project through a scoping study, enhanced metallurgical testing, and marketing efforts including supplying test parcels to potential customers. The company also intends to refine geological models using geophysical inversion techniques to better delineate mineralisation.
Strategic Implications
This resource expansion positions Athena Resources to potentially extend the life and scale of the Byro Magnetite Project significantly. The integration of Byro South with the existing FE1 resource base could enhance project economics and attract further investment interest. However, the transition from inferred resources to economically viable reserves remains a critical hurdle, requiring rigorous technical and market validation.
Bottom Line?
Athena’s Byro South resource surge sets the stage for a pivotal phase of project development and market engagement.
Questions in the middle?
- How soon can Athena upgrade the Byro South resource classification to Indicated or Measured?
- What are the expected timelines and outcomes for the upcoming scoping study?
- How will Byro South’s concentrate quality influence Athena’s marketing and off-take strategies?