SHARES in local listed junior Polaris Metals closed 17.5 per cent at higher after the release of encouraging magnetic test results from its Bullfinch iron ore project, 40 kilometres north-west of Southern Cross.
Polaris said it was confident the Mayfield deposit could produce magnetite content of more than 69 per cent iron, with weight recoveries of between 35 per cent and 47 per cent.
The company said it was targeting production of at least 2.5 million tonnes per annum of magnetite concentrate over 20 years.
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