Reed Resources announces maiden iron ore resource at Mt Finnerty JV December 15, 2009

Reed Resources (ASX: RDR) has announced that a maiden JORC Code compliant resource (Inferred) of 4.66 Mt (average grade 53.5% Fe) has been delineated at the Mt Finnerty iron ore project in Western Australia.

The Inferred resources at the Mt Finnerty prospects have provided sufficient encouragement to progress exploration of other targets, including some identified from a recent geophysical review.

The resource contains significantly low levels of phosphorous and sulphur.

Mt Finnerty is held under a JV agreement with Cliffs Asia Pacific Iron Ore Pty Ltd holding 80% and Reed Resources Limited holding the remaining 20%.

More information on the Mt Finnerty Iron JV can be found at http://www.reedresources.com/mtfinnertyiron.php.

Click here to view the full announcement.