During 1963, grinding and concentrating tests were conducted by Lakefield Labs at its pilot plant on 190 long tons taken from four trenches cut within the Radio Hill resource area. Laboratory grinding and flotation testing continued into 1964.
A summary of the chemistries of the concentrate feed and pellets is presented in the below table.
Figure 3. Chemical Analysis for Concentrate, FENCO 1965
Concentrates of this grade receive a considerable premium. Iron concentrates are priced at 62% (http://www.platts.com/DailyIronOreBenchmark) with each additional 1% of iron receiving a premium of $3.50 - $5.00.
No documentation of specific metallurgical testing on the Nat River Iron Formation was found during the property review conducted by Micon International Ltd. in 2010. All historic metallurgical work focused on the primary Radio Hill iron resource and as it was done prior to National Instrument 43-101 standards should not be relied upon and will have to be redone.