Equinox Resources Limited (AU:EQN) has released an update.
Equinox Resources Limited has announced a significant milestone with the definition of a substantial high-grade Direct Shipping Ore (DSO) resource in their Hamersley Iron Ore Project, totaling 108.5 million tonnes at 58% iron content, positioned near existing infrastructure in Western Australia’s Pilbara region. Financially, the company is well-positioned following a successful $4 million funding round and boasts a strong $5.3 million cash reserve to continue their Brazilian drilling operations. Additionally, promising initial assay results from the Brazilian Rare Earths projects indicate the potential for a major high-grade Ionic Adsorption Clay deposit, with new geological expertise bolstering the exploration team.
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