Sydney, July 30, 2012 (ABN Newswire) - Padbury Mining Limited (ASX:PDY) Announce the Quarterly Activities Report to June 30, 2012 with the following highlights:
- Maiden Inferred DSO Mineral Resource of 11.5Mt grading 58.55% Fe estimated at the Telecom Hill Deposit. - Recent reconnaissance mapping highlighted new area of potential DSO mineralisation with rock chip samples demonstrating multiple high-grade hematite-goethite mineralised outcrops - highest grade sample of 62% Fe, 5.37% SiO2, 1.37% Al2O3 and 0.034% P. - Diamond core and RC drilling improved confidence in Current Inferred Resource model, new magnetite asset estimation commenced. - Increased interest in Padbury's intellectual property for the establishment of rail and port operations at Oakajee.
Padbury Mining Limited (ASX:PDY) is a Perth-based, ASX-listed mineral exploration company focused on the development of its significant iron ore assets in Western Australia's Mid West region.
The company's flagship Peak Hill Iron Joint Venture is a highly prospective magnetite and hematite iron ore project located at Robison Range, about 450km north east of Geraldton.
The Company has a solid program of work planned to develop the Peak Hill project over the next three years, with production targeted for 2015-2016.
ASX:PDY) Announce the Quarterly Activities Report to June 30, 2012 with the following highlights:
Padbury Mining Limited
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