Perth, Feb 11, 2009 AEST (ABN Newswire) - Pilbara explorer, Warwick Resources Limited (ASX:WRK) today announced a significant new high grade iron ore discovery from RC drilling on its 100% owned Woggaginna iron ore project near Newman.
Woggaginna is located 55km southeast of Newman and 35km south of BHP Billiton's Jimblebar iron ore mine and railway.
Key Points:
- Broad, near surface intervals of high grade iron mineralisation from RC drilling, including:
- 53m @ 60.5% Fe from 21m depth (WRKRC301)
- 51m @ 60.8% Fe from 17m depth (WRKRC297)
- 52m @ 58.2% Fe from 3m depth (WRKRC299)
- 41m @ 58.4% Fe from 2m depth (WRKRC298)
- 26m @ 58.9% Fe from 3m depth, and
- 31m @ 62.0% Fe from 46m depth (WRKRC300)
- Strong iron enrichment developed to over 70m vertical depth
- Only 3km of 40km cumulative strike length of prospective iron formation has been drilled to date with excellent early results Pilbara explorer, Warwick Resources Limited (ASX:WRK) today announced a significant new high grade iron ore discovery from RC drilling on its 100% owned Woggaginna iron ore project near Newman.
The discovery closely follows the Company's announcement of a significant iron ore target at Western Creek and initial Inferred Mineral Resources on the Jimblebar Range and Caramulla South projects.
Warwick Resources Managing Director Bruce McQuitty said the discovery was a significant outcome for shareholders and a just reward for the perseverance of the Company's exploration team.
"The exciting aspect of these results is that we have barely scratched the surface at Woggaginna - there is a lot of upside. The scale of the Woggaginna target is very significant as there are over 40km of prospective iron formation evident in magnetic images, however only 3km has been drilled to date", Mr McQuitty said.
The Woggaginna project covers a remnant Archaean greenstone belt which contains an extensive sequence of Banded Iron Formations (BIFs). Using magnetic data, the Company has identified more than 40km of cumulative strike length of BIF on the project, of which about one third has so far been mapped and sampled, and only 3km tested by drilling. Areas of iron enrichment, typically 20-50m wide and from 300-1,000m long, and grading up to 63% Fe are developed over the moderately to steeply dipping BIF units.
In August 2008, the Company's geologists outlined a 1.5km long iron enrichment target in the southern half of the Woggaginna project, named "Wishbone". Eight rock chip sample traverses completed across the outcropping iron mineralisation averaged 60.7% Fe over widths between 14m and 65m. This was followed in November 2008 by an initial phase of RC drilling, comprising 11 RC drill holes for 927m.
Key results of the RC drilling at Wishbone include:
- Excellent continuity, width and grade of iron mineralisation: 10 out of 11 drill holes recorded intersections between 12m and 53m in length at grades ranging between 57.9% Fe and 62.0% Fe.
- The broader intersections have low to moderate phosphorous levels and low alumina levels, indicating potential for direct shipping ore (DSO).
- Iron enrichment is developed to at least 77m vertical depth, with some drill holes ending in iron mineralisation grading between 50% and 55% Fe.
These results considerably enhance the exploration potential of the Woggaginna iron ore project. The Company intends to undertake further mapping and sampling at Woggaginna during the first half of 2009, prior to completing resource drilling.
Contact
Bruce McQuitty
Warwick Resources Limited
Phone: +61-8-9481-8181
Mobile: +61-409-929-121
Email: bmcquitty@warwickresources.com.au
Website: www.warwickresources.com.au
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