Aquila announces maiden Pilbara reserve

Aquila Resources has announced a maiden JORC Ore Reserve at its West Pilbara Iron Ore Project of 445 million tonnes of proven and probable reserves.

In a statement to the Australian Securities Exchange, Aquila said that the reserve represents 74 per cent of the stage 1 development measured and indicated resource.

The project already has a 927mt resource.

"The Project is managed by the Australian Premium Iron Joint Venture in which the company has a fifty per cent interest," Aquila said.

"The project is a green-field, Pilbara iron ore development of a 30Mtpa mining operation based on the above Reserves, with the construction of a new 282km railway to connect the mining operation with a new port development at Anketell Point, just to the west of Cape Lambert."