Fenix Resources Limited announced that the company has received the remainder of the assay results from 12 RC holes from the total RC component (21 holes for 3,534m) of the drilling program completed at its Iron Ridge Project in the Mid-West region of Western Australia. Assay results from eight diamond holes for 1,210m of diamond core remain pending. Interpretation of current assay results in the vicinity of the current Inferred Mineral Resource have confirmed the previous high grade hematite zone results (64-67% Fe) in the Main BIF unit and the lower grade (57-63% Fe) Little BIF unit to the south. The focus of the current drill program was the hematite zone in the Main BIF, targeting its high iron grades and low level of deleterious elements. These latest results illustrate the consistent high grades in the Main BIF unit with nine separate intercepts of between 20m and 70m grading >64.8% Fe. This is in addition to the two wide, high-grade intercepts of 46m @ 66.3% Fe and 58m @ 66.7% Fe announced previously. The Iron Ridge Project hosts an existing Inferred Mineral Resource of 5.0Mt at 64.1% Fe, based on previous drilling conducted by Atlas Iron in 2008. The recent drill program was designed to improve the confidence level of the Mineral Resource to Indicated category whilst also testing strike and depth extents to the mineralisation. The Company now awaits assay results for all of the 297 diamond core samples. These diamond holes targeted the same mineralisation as the RC holes with the core also intended to be used for metallurgical and geotechnical testwork. The company expects results from the metallurgical testwork to be available in February and a new Mineral Resource to be completed in March 2019.