08:27 AEST May 10, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Perth, Australia (ABN Newswire) -
Iron Road Limited (ASX: IRD) is pleased to advise that Stage VI drilling at the Central Eyre Iron Project (CEIP) is proceeding as planned.
CEIP Summary
- The Stage VI drilling programme investigates the western extension of mineralization at Murphy South.
- Two diamond drill rigs on double shift drilling NQ2 diamond tails in fresh rock.
- One RC rig on single shift drilling pre-collars in oxide and transitional zones.
- Drilling completed to date confirms extension of Murphy South 800-1,200m west of the nearest drill hole traverse (Stage V).
- On track to define a mineral resource estimate of considerable size and tonnage additional to the current 907Mt identified at Murphy South so far.
Progress to date
------------------------------------------------
Hole Type Metres Holes
Completed (m) Completed (No.)
------------------------------------------------
RC (pre-collar) 1,821 24
------------------------------------------------
Diamond (tail) 2,777 10
------------------------------------------------
The exploration target for Murphy South (western extension), across the 10 traverses designed for the Stage VI drilling programme, is 500-800Mt magnetite gneiss.
The Stage VI drilling programme comprises 66 diamond drill holes for over 25,000m. Cross-sections will be presented as they are completed. The geology intersected in all traverses thus far is consistent with expectations and confirms the extension of the Murphy South orebody in a westerly direction.
For the complete Iron Road announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/541076.pdf
About Iron Road Limited:
Iron Road Limited (ASX: IRD) is an Australia-based company. The Company is engaged in exploration and evaluation of its iron ore ground holdings. Its projects include the Central Eyre Iron project, Gawler Iron project and Windarling Iron project. The Central Eyre Iron Project consists of three distinct prospects: Warramboo, Kopi and Hambidge. The Company focuses on establishing a resource inventory that underpins a 5 to 10 metric tons per annum (Mtpa) magnetite export operation. It contains magnetite-bearing gneiss units with a cumulative strike length. Gawler Iron project includes over ten areas of known iron occurrences, including the Mt Christie deposit. A total of 252 in-situ rock chip and grab samples from 10 localities at the West Gawler project returned an average grade of 53.4% Fe. The Company developed a stage plan of ground work on Windarling project.
Contact:
Andrew Stocks
Managing Director
Iron Road Limited
Tel: +61-8-9200-6020
Mob: +61-403-226-748
Email: astocks@ironroadlimited.com.au
http://www.ironroadlimited.com.au
