Red Hawk has completed a scoping study at its 100 per cent owned Blacksmith iron ore project in the Pilbara region of WA.
The study has demonstrated the viability of a three million tonnes per annum direct shipping ore project incorporating both the Delta and Paragon deposits at the project.
“Over the past six months, Red Hawk has ‘right sized’ the development plan for Blacksmith, with a focus on speed to market and lowering upfront capital,” Red Hawk managing director Steven Michael said.
“We have leveraged off the considerable work already completed at Blacksmith, including extensive drilling, metallurgical testwork, state and federal approvals, and native title agreements.
“Red Hawk has added considerable iron ore development experience to its team over the past few months, to continue its rapid progress through the various study phases and into construction, production targeted for 2025.”
Michael said one of the key highlights from the study was the low upfront capital of $150 million, which includes a 30–35 per cent contigency.
“Red Hawk has progressed geological re-interpretation of the Champion and Blackjack deposits, which aims to increase the overall Mineral Resource Estimate, for inclusion in the PFS which is now underway,” he said.
Red Hawk chair Cheryl Edwardes said she is extremely pleased with the results of the study.
“I commend the team at Red Hawk and the technical and commercial consultants for their diligence throughout the study process and delivering a robust development plan,” Edwardes said.
“Along with all Red Hawk shareholders, I look forward to seeing our first iron ore on a ship in 2025.”