Nevada Iron (ASX: NVI) has appointed its non-executive chairman Mick McMullen as its executive chairman as it moves to develop the Buena Vista Iron Project in Nevada.
This is in line with its strategy of strengthening its management team.
The executive role will allow McMullen to bring his 19 years of experience in exploration, financing, development and operation of mining projects to assist the company in bringing Buena Vista into production, which Nevada Iron expects to start commissioning before the end of this year.
It added that its recently appointed U.S.-based project manager Chris Tanner has started work and is in the process of establishing a Reno, Nevada, office from which development of the project will be managed.
Nevada Iron had recently completed a completed a review of the project to assess changing the scope of the project and optimising it where possible.
This had found that increasing the Phase 1 plant throughput from 4.8 million tonnes per annum to a minimum of 6 million tonnes per annum will be beneficial for project economics.
Further economic benefits could be gained by scheduling higher grade mineralisation in the initial years of the project.
Further upside stems from the development of a Phase 2 project, which will enhance the economics and make the project more attractive to offtake financing partners.
To more fully scope the project, Nevada Iron has committed to an aggressive exploration program targeting an increase in the existing JORC Resource, as well as a conversion of the known higher grade exploration targets and prospects to JORC Resources.
Buena Vista has an Indicated Resource on the West deposit of 100.2 million tonnes at 20.3% total iron, based on true density values.
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