08:23 AEST July 5, 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 Murphy South.
- Three diamond drill rigs drilling diamond tails to be supplemented by a fourth drill rig.
- Two traverses completed to date confirm the extension of Murphy South 1,000-1,200m west of the next nearest drill hole traverse drilled during the Stage V programme.
- Programme ~65% complete and on track to define a mineral resource estimate of considerable size and tonnage additional to the current 1.01Bt identified at Murphy South.
Progress to date
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Hole Type Metres Completed Holes Completed
(m) (No.)
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RC (pre-collar- 5,078 63
all complete)
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Diamond (tail) 8,596 32
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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 64 diamond drill holes for over 25,000m. Cross-sections of traverses E and F are presented below. 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.
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
