11:15 AEST Nov 8, 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 announce that the Stage II diamond drilling programme at the Gawler Iron Project has commenced. This programme is designed to gather geological and metallurgical data from several iron ore prospects discovered during the Stage I drilling programme.
Highlights
- Stage II drilling programme comprises 26 diamond drill holes for 3,000m with individual holes up to 200m depth.
- Drilling programme will test six iron ore prospects identified from geophysical studies and previous Stage I RC drilling; including a new target at George Hill Extended.
- Stage I RC drilling programme completed during 2010 demonstrated significant intersections of magnetite gneiss / banded iron formation (BIF) within the Achaean Mulgathing Complex, northwest Gawler Craton.
- The Boomer prospect contains significant high-grade magnetite zones, including 17m @ 40.6% Fe, 20m @ 39.0% Fe, 42m @ 40.8% Fe and 31m @ 42.6% Fe.
- The results of a pilot metallurgical study completed during September 2010 indicates excellent beneficiation characteristics with average iron content of magnetite concentrates in the range 69-70% iron with 1.1-2.0% SiO2, 0.6-1.4% Al2O3 and 0.00% P (P100 @ 75µm).
Iron Road is seeking to develop the Gawler Iron Project, utilising an exploration model similar to the style of mineralisation found at the Archaen K Deposit at Koolyanobbing in Western Australia. The Gawler Iron Project is at an earlier stage than the flagship Central Eyre Iron Project and represents potential for the second stage of production for Iron Road, after the initial development of the CEIP.
Drilling Programme
The project area is located approximately 25km north of the standard gauge Trans Australian Railway that connects to the Central Australia Railway at Tarcoola and ultimately a number of ports. The drilling programme is situated within the southern block of EL4014 Mulgathing, centred around Mt Christie and to the south of Dominion's Challenger Mine.
Six priority prospects have been identified from Stage I RC drilling as targets, supplemented by the analysis of high resolution magnetic and gravity data.
For the complete Iron Road announcement including figures, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-IRD-565787.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.
Source:
Iron Road Limited
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
