Perth, Oct 29, 2007 AEST (ABN Newswire) - Golden West Resources (ASX: GWR) is pleased to announce significant exploration results which confirm the potential for a substantial uplift in the resource at its flagship Wiluna West iron ore project.
Highlights:
Wiluna West Iron Project
- Resource upgrade imminent following significant drill intercepts at the Wiluna West Iron Ore Project
- High grade outcropping hematite identified over a 1.1km strike length in Southern area.
- Golden West on track to attain target high grade resource of 100 million tonnes.
Results from RC drilling at six deposits within C Unit have confirmed wide zones of high grade hematite, including intercepts of 83m grading 64.82% Fe and 32m at 65.1% Fe from the C4 deposit, 10m at 66.05% Fe from the C2 deposit and 18m at 65.39% Fe from the C5 deposit.
These results will be incorporated into a new interim resource estimate currently being prepared by international mining consultants Snowdens and expected to be released by the middle of November.
The new estimate is expected to significantly boost the initial inferred mineral resource of 50 million tonnes grading 61% Fe at the Joyners Find, Bowerbird, C4 and C3 deposits that was announced in April 2007.
The Company is also pleased to announce that rock chip sampling in the southern portion of the project has confirmed wide zones of outcropping high grade mineralisation up to 63% Fe over a 1.1km strike length.
Mapping has also identified numerous other targets in the southern area that will be sampled in the near future.
The Company believes these results support its aim of confirming a target resource of 100 million tonnes grading 60% Fe at Wiluna West.
Many of the iron deposits drilled to date remain open at depth and in some cases, open along strike. There also remains considerable potential for the discovery of additional deposits under cover in this region. For the purpose of project development, Golden West has divided its Wiluna tenements into Northern and Southern project locations to reflect the different stages of exploration in each area.
Northern Project Location
Exploration to date has concentrated on Units B and C in the northern 23 km long well exposed portion of the 44km long Wiluna West project. Six deposits upon Unit C, known as CR, C5, C4, C3, C2, C1 have been the focus of a high intensity RC drilling program, yielding encouraging results.
The following (Table 1) summarises significant drill hole intercepts upon Unit C.
Download drill hole intercept data here:
http://www.abnnewswire.net/lnk/YG6V358H
Drilling has to date focused on outcropping targets as the Company seeks to outline a JORC Resource of at least 100 million tonnes.
All the drilling data and results have now been processed and validated in the company's data base and Snowdens are currently calculating a JORC resource. This work has also identified a number of areas that justify further drilling.
In addition a diamond drill rig has been engaged at the project and results from the program will give further confidence of the structural and geological controls to mineralisation. The diamond drilling will also provide important, geotechnical and metallurgical information.
Southern Project Location Rock Chip & Mapping
A mapping and rock chip sampling program has identified high grade outcropping hematite over 1.1km strike length in an area approximately 10km south of deposit C1 on C Ridge.
All rock chip samples taken from this zone on lines 100-200m apart returned in excess of 50% Fe. The sampling also returned wide intercepts of ore up to 40m in width. These widths are expected to be close to true widths as the mineralisation is steeply dipping.
Mapping has also highlighted further targets which will be rock chip sampled in the near future. These targets are likely to significantly add to the known iron resources at the Wiluna West Project. The best chip sampling results to date include 18m at 63.14% Fe, 28m @ 61.64% Fe and 40m @ 57.24% Fe.
Download rock chip assay results here:
http://www.abnnewswire.net/lnk/YG6V358H
These rock chip sampling and drilling results reinforce the Company's confidence it can develop a significant iron ore project at Wiluna capable of producing at least 10 million tonnes of ore annually.
The Information in this report that relates to Exploration Results is based on information compiled by Marlene Kelly, who is a member of the Australian Institute of Geoscientists. Marlene Kelly is a consultant for Golden West Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves": Marlene Kelly consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.
Contact
Gary Hutchinson
Managing Director
Mick Wilson
Exploration Manager / Director
Peter Thompson
Director General Manager, Operations
Tel: +61 8 92019202
Fax: +61 8 92019203
admin@goldenwestresources.com
www.goldenwestresources.com
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