CZR Resources announced the completion of the FMG tenement acquisition

CZR Resources Ltd (ASX: CZR) announced the successful completion of its acquisition of a major Pilbara iron ore tenement from Fortescue Metals Group, which is a strategically important move for the company. CZR plans to commence drilling activities on the higher-grade zone of the P529 deposit, which extends into E08/2137.

This acquisition aligns with CZR's objective of extending the mine life and production rates for the Robe Mesa project and offers a potential new source of iron ore for the project, either as an independent deposit or in conjunction with the Robe Mesa reserve. CZR is currently finalising its Definitive Feasibility Study (DFS) for Robe Mesa, and the revised Ore Reserve is expected to be reported soon.

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