08:28 AEST Mar 30, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Sydney, Australia (ABN Newswire) -
Iron Road Limited (ASX: IRD) is pleased to announce that Stage VI drilling at the Central Eyre Iron Project (CEIP) has commenced.
Stage VI Summary
- Drilling programme comprises 66 RC/Diamond drill holes totalling over 25,000m.
- Exploration target of 500 - 800Mt magnetite gneiss*.
- Current mineral resource stands at 1.23Bt of which 907Mt is at Murphy South.
- Drilling will initially utilise one RC rig for pre-collars and two diamond rigs for NQ2 diamond tails.
During late January 2011, Primary Industries and Resources South Australia (PIRSA) approved the Stage VI drilling programme at Murphy South comprising 66 diamond holes totalling in excess of 25,000m. Drilling of this programme has now commenced with the completion of Stage V resource extension drilling at Murphy South.
Individual diamond holes range from 100m-600m in depth with drilling on a 200m x 100m grid. This drilling programme will explore the western extension of the Murphy South orebody over an area approximately 800m wide x 2000m long.
The exploration target for Murphy South Stage VI, across ten traverses designed with the aid of aeromagnetic inversion modelling, is 500 - 800Mt magnetite gneiss*. Iron head grades are expected to be similar to those previously reported for Murphy South.
* Coffey Mining (Iron Road Limited ASX announcement 01 September 2009).
For the complete Iron Road announcement including Figures and Mineral Resource Estimate, please refer to the following link below:
http://www.abnnewswire.net/media/en/docs/535385.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
