Ring of fire junior releases resource estimate.

• Position: IN BRIEF

Probe Mines has released an initial mineral resource estimate for its Black Creek chromite deposit at McFauld's Lake in the James Bay lowlands.

With a cutoff grade of 30 per cent, the project contains measured and indicated resources of 5.71 million tons, averaging 40 per cent chromite, plus another 2.73 million tons, averaging 40.99 per cent chromite in the inferred category.

The company said the cutoff grade of 30 per cent was arrived at after considering chromite operations in South Africa, Zimbabwe and Finland.

"The lack of infrastructure in the McFauld's Lake area demands an above-average grade deposit to ensure reasonable prospects for economic extraction," said the company

The Black Creek zone was discovered in...