Iron Road Limited - Updates On Central Eyre Iron Project 2010 Drilling Programme Fortnight to 03 December 2010

09:13 AEST Dec 7, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.

Perth, Australia (ABN Newswire) - Iron Road Limited (ASX: IRD) is pleased to advise that Stage V drilling at the Central Eyre Iron Project (CEIP) continues to proceed to plan.


CEIP Summary

- Additional drill rig mobilised at Murphy South bringing the total to four diamond drill rigs on double shift.

- On track for completion of Stage V drilling by mid-December 2010.

- Preparations underway to ensure Murphy South JORC compliant mineral resource estimate report is released late January 2011.
Progress to date

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Hole Type       Metres Completed (m)  Holes Completed (No.)
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RC (pre-collar,        4,305              64
now completed)
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Diamond               22,892              58
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The exploration target for Murphy South, across the 10 traverses designed for the Stage V drilling programme, is 400-800Mt magnetite gneiss.

The cross-sections presented below and marked A, B, C, D, E, F, G and H, have been completed at Murphy South and are awaiting assays. Geology and surface area calculations do not include the entire near surface oxide component (drilled by RC rig). Sections 561140mE and 562940mE are in progress. The geology intersected in all traverses thus far is consistent with expectations. Note that drill hole traces are design and are yet to be corrected for deviation.

For the complete Iron Road announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/64365-ASX-IRD-519315.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