Perth, Oct 1, 2008 AEST (ABN Newswire) - Pilbara explorer, Warwick Resources Limited (ASX:WRK) today announced further encouraging drill results from its 100% owned iron ore projects near Newman.
KEY POINTS
- Drilling results from Jimblebar Range highlight extensions to mineralisation: e.g. 30m @ 57.4% Fe from northeast extension
- Drilling at Caramulla South identifies new eastern zone of Marra Mamba iron ore mineralisation
- RC drilling campaign to commence, targeting extensions to Jimblebar Range deposit and first pass tests of other iron ore targets
Jimblebar Range
Assay results have been received from two RC drill holes completed after the resource drilling campaign. Both drill holes intersected significant mineralisation as follows:
WRKRC198: 30m @ 57.4% Fe from 12m depth, including 18m @ 61.3% Fe from 24m depth,
and WRK197: 10m @ 57.1% Fe from 50m depth, including 6m @ 60.7% Fe from 52m depth.
The results follow the release on 9 September of the Company's maiden Inferred Mineral Resource from Jimblebar Range of 11.7Mt at 57.6% Fe, estimated using a 50% Fe cut-off.
Significantly, the WRKRC198 intersection lies outside the resource shell used in the September estimate and confirms that the Northern Zone remains open to the northeast.
Warwick Resources Managing Director Bruce McQuitty said the Company would target extensions to the Jimblebar Range deposit in its forthcoming drilling campaign.
"The potential extensions to the Jimblebar Range mineralisation are to be drilled ahead of a resource update scheduled for early 2009", Mr McQuitty said.
The Company will also evaluate iron enrichment targets on adjacent ridges of banded iron formation.
Jimblebar Range is located only 8km from BHP Billiton's large Jimblebar iron ore mine and railway. The deposit features low levels of impurities, a thin layer of overburden and minimal groundwater.
Caramulla South
Results have been received from Phase 2 drilling, the majority of which was directed at the eastern end of the strip of Marra Mamba Formation that abuts the northern margin of the project.
Results include:
22m @ 56.3% Fe from 32m (WRKRC193);
14m @ 55.9% Fe from 28m (WRKRC191); and
18m @ 55.0% Fe from 22m (WRKRC188).
The drilling has outlined a substantial zone of Marra Mamba iron ore at the eastern end of the project which is approximately 1km long and up to 200m wide. This follows the discovery of a zone of iron enrichment with similar dimensions at the western end of the project, announced on 15 July 2008.
The Marra Mamba mineralisation is mostly of the "hardcap" style, a harder near-surface layer which characteristically has a superior lump to fines ratio than the softer, deeper Marra Mamba ore.
In addition to the Marra Mamba mineralisation, the drilling also intersected a significant body of detrital iron mineralisation in the eastern half of the project which is up to 16m thick, over 100m wide and grades between 40% Fe and 55% Fe. The detrital iron is thought to form an east-west meandering channel fill deposit, overlying eroded remnant Marra Mamba Formation. The detrital iron consists of iron rich clasts or pisolites which are variably clay and iron cemented. The Company will assess the potential for the detrital iron to be upgraded by beneficiation.
Modelling of the Caramulla South deposit is in progress and resource estimation work has been scheduled for October.
Jimblebar CID
The strike extent of drill defined mineralisation (>50% Fe) at the Jimblebar CID has been extended to 1km following the receipt of results from the second phase of drilling. Results include:
6m @ 56.3% Fe from surface (WRKRC78);
4m @ 57.1% Fe from surface (WRKRC79); and
7m @ 53.5% Fe from surface and 3m @ 54.1% Fe from 9m depth (WRKRC90).
Significantly, WRKRC90 is an isolated drill hole that ended in mineralisation. This hole is located 200m to the south of the area targeted by pattern drilling. Another phase of drilling will be undertaken to test the additional potential prior to completing a resource estimate.
Woggaginna
Initial scout RC drilling of iron ore targets at Woggaginna intersected multiple iron enriched BIF units, varying in thickness up to 30m, beneath a broader carapace of iron enrichment. Assay results are expected to be received in the near future.
Drilling Programme
A follow up RC drilling campaign is due to commence next week. The drilling will target extensions to define mineralisation at Jimblebar Range and Caramulla South, in addition to first pass test of iron ore targets at Woggaginna South, Black Hills and Ten Mile CID.
Warwick's iron ore projects near Newman are:
Jimblebar Range contains an Inferred Mineral Resource of 11.7Mt @ 57.6% Fe, with low levels of impurities (2.2% Al2O3, 0.06% P). The deposit consists of two zones of haematite-goethite mineralisation which extend from near surface to over 70m depth. The deposit is located only 8km from BHP Billiton's large Jimblebar iron ore mine and railway.
Caramulla South comprises an east-west striking strip of Marra Mamba Formation, up to 180m wide and 4km long, near the northern margin of the exploration licence. Drilling to date has returned significant intersections, including: 36m @ 57.73% Fe from 2m depth, 22m @ 59.29% Fe from 4m depth, 21m @ 56.3% Fe from 15m depth and 11m @ 59.2% Fe from 9m depth.
Woggaginna has extensive areas of surficial iron enrichment, developed over banded iron formation confirmed by detailed mapping and sampling. Grades up to 63.0% Fe and low contaminants indicate DSO potential.
Jimblebar CID - a 3km long mesa from 75m to 150m wide capped by pisolitic iron mineralisation. An initial drill traverse completed across the CID demonstrated that the channel contains up to 7m of iron-rich pisolite grading to 57% Fe. Phosphorous levels are very low, ranging from 0.020% to 0.025%.
Ten Mile CID is a recently identified channel iron target over 3km in length and up to 400m wide, with potential for further mineralisation beneath shallow cover. Initial rock chip sampling returned grades up to 58.5% Fe.
Grassroots Iron Targets - Areas of surficial iron enrichment, developed over banded iron formation, have been mapped at Black Hills. Multiple targets for channel iron mineralisation have been identified on the Company's tenements.
Contact
Bruce McQuitty
Warwick Resources Limited
Phone: 08 9481 8181 / Mobile: 0409 929 121
Email: bmcquitty@warwickresources.com.au
Website: www.warwickresources.com.au
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