Meteoric Resources (ASX:MEI) Positive Coorara Iron Results Up To 65.8% Fe
Perth, Nov 17, 2010 AEST (ABN Newswire) - Additional rock sampling has continued to highlight the potential for highgrade hematite-goethite deposits at Meteoric Resources's (
ASX:MEI) Coorara project.
Coorara is situated about 50km north of the standard gauge railway in the emerging South Yilgarn Iron Ore Province, as shown in Figure 1. 46% of a total of 71 rock samples taken during first phase geological mapping confirmed the presence of significant iron grades (>55% Fe) in hematite-goethite altered quartz-magnetite banded iron formation (BIF) with low impurities
The average grade of the 30 higher grade samples is 60.7% Fe, 3.6% SiO2, 2.2% Al2O3, 0.05% P and 6.7% LO1 (loss on ignition), demonstrating potential for direct shipping ore (DSO) grades. The samples were taken over a 12km strike length of multiple BIF horizons in the northern part of the project area and continue to reinforce the target areas identified from Meteoric's detailed aeromagnetic survey
Geological mapping has confirmed the presence of multiple horizons of folded and highly deformed BIF, particularly in the central and eastern parts of the BIF sequence.
This deformation appears to be favourable for the alteration of quartz-magnetite BIF to hematite-goethite with a low silica and phosphorus content.
Meteoric is most encouraged by these results, which indicate potential for extensive DSO-grade hematite-goethite deposits at this 40km-long project. Further rock sampling and mapping is in progress, aimed at defining drilling targets. As part of the permitting process for drilling, flora surveys are being carried out in target areas, with drilling anticipated to start in December/January.
For the complete Meteoric Resources announcement including figures and sampling results, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/64200-ASX-MEI-515628.pdf
About Meteoric Resources Nl
Meteoric Resources NL (ASX:MEI) is a Perth based rare earth company that is progressing its flagship Caldeira Project in Minas Gerais, Brazil and aims to become Brazil’s next rare earth producer. The Caldeira Project is a true Ionic adsorbed Clay (IAC) deposit with above industry TREO grades and excellent metallurgical recoveries using a standard Ammonium Sulphate (AMSUL) wash flowsheet. These grade and recovery characteristics allow a simple flowsheet to be developed to produce a Mixed Rare Earth Carbonate (MREC) with an anticipated low capital and operating costs. Meteoric aims to become a significant volume, low-cost producer and is committed to supporting and integrating into western supply chain opportunities.
| ||
|
