Watertank Hill Prospect (ASX:WRK)
Perth, April 6, 2009 AEST (ABN Newswire) - Warwick Resources Limited (ASX:WRK) today announced that it has identified four new high grade Marra Mamba iron ore targets on its 100% owned McCamey's South project near Newman.
McCamey's South is located from 36km to the east of Newman. The project tenements border on the entire 23.5km long southern margin of BHP Billiton's McCamey's Monster mining lease which includes the large Jimblebar iron ore mine.
The project tenements cover approximately 25 hectares of outcropping to sub-cropping Marra Mamba Formation. The Marra Mamba strata strike east-west and dip shallowly to moderately the north, towards BHP Billiton's tenure. Strong iron enrichment has been mapped and sampled at four locations, named the Watertank Hill, Sliver, Cracker and Wafer prospects.
Watertank Hill is the most significant of the targets and comprises a strip of outcropping iron-enriched Marra Mamba Formation, 500m long by up to 75m wide, with a further 900m of strike potential concealed beneath recent alluvial cover. The prospect is less than 1km from BHP Billiton's Jimblebar mine and railway line.
Seventeen broadly spaced sample traverses undertaken across the strike of the Marra Mamba Formation returned high grade iron results with low impurities.
Warwick Resources' Managing Director Bruce McQuitty said that the strategic location meant that the McCamey's South targets would be assigned a high priority for further exploration.
"While these are not Warwick's largest iron ore targets, they are the best placed with respect to existing infrastructure. You don't get much closer to the mine gate than this", Mr McQuitty said.
The Company intends to undertake initial RC drilling at McCamey's South later this month.
Contact
Bruce McQuitty
Warwick Resources Limited
Phone: +61-8-9227-6680
Mobile: +61-409-929-121
Email: bmcquitty@warwickresources.com.au
Website: www.warwickresources.com.au
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