Jubuk Sample Locations
Perth, Mar 11, 2009 AEST (ABN Newswire) - As recently reported (MAU ASX Release 9 March 2009), Magnetic Resources (ASX:MAU)has identified a 35km-long aeromagnetic trend near Corrigin, WA, considered to be prospective for iron ore. By way of clarification, the recent sampling of banded iron formation (BIF) over an 800m strike length returned iron values up to 53.2%Fe ranging from 34.3%Fe to 53.2%Fe, averaging 39.6%Fe from 9 samples as shown in the figure and table below. Several rock chip sampling traverses have been completed over the outcrop areas to obtain material for preliminary Davis Tube testwork.
Rock Sample Results------------------------------------------Sample GDA/MGA GDA/MGA Fe Al P Cr No East North % % % ppm------------------------------------------JURC001 556096 6435504 41.2 0.39 0.024 35JURC002 556096 6435504 53.2 1.80 0.018 110JURC003 556041 6435522 38.2 0.35 0.030 30JURC004 556041 6435522 37.5 0.36 0.022 30JURC005 555943 6435421 38.0 0.66 0.020 30JURC006 555943 6435421 36.6 0.35 0.022 55JURC007 555883 6435162 34.3 0.63 0.018 25JURC008 555883 6435162 36.1 0.54 0.018 25JURC010 556150 6435576 41.3 0.60 0.032 25------------------------------------------Analytical results based on 4-acid digest with ICP finish.
Based on the sampling and ground magnetic surveying completed to date, Magnetic is encouraged by the results and has an exploration target of 200-300 million tonnes in the central 9.5km of the stronger magnetic anomalies. In addition to the measured outcrop thicknesses, this target is based on the interpreted thickness and strike extent of the BIF from ground magnetic or aeromagnetic data. The target size and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource at this stage and it is uncertain if further exploration will result in the identification of a resource of this size and grade.
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