Sydney, Oct 4, 2011 (ABN Newswire) - Iron Road Limited (
ASX:IRD) is pleased to advise that the first traverse of Central Eyre Iron Project Stage IV drilling at Hambidge confirms significant thickness of magnetite gneiss.
Summary
- The Stage IV Drilling Programme successfully tested several selected targets across E3699 based on the interpretation of a detailed aeromagnetic survey.
- Hambidge Stage IV drilling was delayed due to the higher priority Stage V and VI drilling programmes at Murphy South.
- Two diamond rigs are currently drilling at Hambidge with Traverse D now complete.
- Drill holes intersected continuous magnetite gneiss of up to 200m apparent thickness.
- Hambidge is believed to have the potential to rival Murphy South in size and tonnage.
Progress to date
The Stage IV drilling programme at Hambidge comprises an initial 12 diamond drill holes for 5,600m. Completion of all 12 holes will allow for the estimation of an exploration target for the area.
For the Full Announcement click:
http://media.abnnewswire.net/media/en/docs/ASX-IRD-559911.pdf
ASX:IRD) is pleased to advise that the first traverse of Central Eyre Iron Project Stage IV drilling at Hambidge confirms significant thickness of magnetite gneiss.Summary
- The Stage IV Drilling Programme successfully tested several selected targets across E3699 based on the interpretation of a detailed aeromagnetic survey.
- Hambidge Stage IV drilling was delayed due to the higher priority Stage V and VI drilling programmes at Murphy South.
- Two diamond rigs are currently drilling at Hambidge with Traverse D now complete.
- Drill holes intersected continuous magnetite gneiss of up to 200m apparent thickness.
- Hambidge is believed to have the potential to rival Murphy South in size and tonnage.
Progress to date
------------------------------------------- Hole Type Metres (m) Holes (No.) Diamond (planned) 5,600 12 Diamond (completed) 1,482 3 -------------------------------------------
The Stage IV drilling programme at Hambidge comprises an initial 12 diamond drill holes for 5,600m. Completion of all 12 holes will allow for the estimation of an exploration target for the area.
For the Full Announcement click:
http://media.abnnewswire.net/media/en/docs/ASX-IRD-559911.pdf
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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.
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