Beyondie Project Location Map (ASX:EMG)
Perth, Mar 30, 2009 AEST (ABN Newswire) - Emergent Resources Limited (ASX:EMG) is pleased to announce that its second-phase drilling program at the company's flagship Beyondie Iron Project in the mid-west region of Western Australia will commence in the next few days.
The program will drill 27 reverse circulation (RC) holes for a total of 2,700 metres over a 7km segment of the known 45km total strike length at Beyondie, and is designed to follow up from the excellent results of its maiden drill program (21 RC holes totaling 2210 metres), which confirmed the world class potential of the project.
The Beyondie Project is located in the northern part of the mid-west iron ore precinct in WA, immediately adjacent to the sealed Great Northern Highway and Goldfields Gas Pipeline.
Potential shared rail and port infrastructure developments are in progress, and the project will directly benefit from the recent WA Government-OPR mid-west infrastructure agreement which will provide certainty for Beyondie's future mine-to-port infrastructure requirements.
The Company plans to develop the project in to a robust, long term, high grade magnetite mining operation. Emergent has the right to earn up to an 80% interest in the project by way of a a joint venture with De Grey Mining Limited.
Work is also continuing on geological modeling of the magnetite horizons (supported by geophysical models), metallurgy, process and engineering aspects, transport options, and approvals on environment, government, and community issues.
Emergent's Managing Director Garry Hemming said: "We are delighted with the progress the Company is making at the Beyondie Project, and the results of our exploration work to date confirm the long term, large scale and high grade of this potential world class deposit."
"We are of the view that there will be strong demand for high grade magnetite into the future for Direct Reduction (DR) feed in the smelting process, as it does not require coking coal for smelting and attracts a premium price because is it low in impurities," Mr Hemming said.
The previous drill program, conducted in the December 2008 quarter, intersected three large adjacent magnetite bodies each averaging up to 140 metres in width. The drill holes returned magnetite intersections of at least 90 metres true thickness, and confirmed the excellent thickness and consistency of the magnetite bodies.
The extraordinary widths and the moderate dip (approximately 30Deg-40Deg to the north-west) is optimal for a low-strip ratio in an open cut mine and the grades reported from the first drill program compared favorably to similar magnetite operations being developed in WA.
Emergent is also presently evaluating an Independent Resource Development Study prepared by MSP Engineering Pty Ltd for incorporation into its overall Business Plan for the Beyondie Magnetite Project.
In addition, this announcement deals only with Beyondie Magnetite Project, and Emergent has extensive base metal, precious metal and uranium projects and continuing work with encouraging results are reported separately.
Contact
Garry Hemming
Managing Director
Emergent Resources
Tel: +61-419-835-757
Email: ghem@westnet.com.au
Web: www.emergentresources.com.au
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