Exploration
Fortescue's exploration and acquisitions program has been aggressive from its inception. The drilling program in the first 18 months was so comprehensive and rapid that the company soon became known as the leading exploration company in Australia.
The original tenements of Mt Nicholas and Mt Lewin were the initial focus of activity over 2003/04 during which time resource estimated of over 400 million tonnes were announced. Toward the end of 2004 and into 2005 the focus moved west to the new areas of Christmas Creek and Cloudbreak and over the following few years, resource estimates of over 2.5 billion tonnes were announced. It was with these new discoveries that the project making Chichester Hub deposit was established thereby enabling the company to plan and finance its first stage integrated port, rail and mine development.
Activities over 2006 then broadened further with exploration activity commencing at the Solomon deposit. With a first resource estimate released in late 2007 this area now houses over 3 billion tonnes of resources and work continues to grow these volumes.
Today the exploration program is centred around the Three Hub Strategy which comprises ongoing resource definition and exploration within the Chichester Hub, the Solomon Hub and the Western Hub. The exploration team comprises over 150 people with the level of activity and excitement over new discoveries and potential new mine sites is as palpable as it was back in 2003.