Fenix Resources (ASX:FEX) said its scoping study results showed the potential to expand production from the Weld Range iron ore project in Western Australia to 10 million tonnes per annum (Mtpa) by 2031 from 6 Mtpa in 2028, with operations continuing through to 2042, according to a Tuesday Australian bourse filing.

The study also showed potential for the mine life extending out to 2042, with potential for future extensions, as well as average life-of-mine cash costs reducing to around AU$55.4 per wet metric tonne.

The study outlined a production target of approximately 138 million wet metric tonnes based on 89% measured and indicated mineral resources.

The study ramp-up is based on the planned construction of a 244-kilometer private haul road will reduce haulage distance to port by around 20% and allow larger haulage payloads per truck.

The firm's shares jumped 4% in recent trading on Tuesday.