Carpentaria Exploration Limited (ASX:CAP) Discovers Large Tonnage-Potential Magnetite Mineralisation From Hawsons Iron Project Drilling
Brisbane, Aug 26, 2009 AEST (ABN Newswire) - The Directors of Carpentaria Exploration Limited (ASX:CAP) are pleased to announce that the Davis Tube Recovery and assay results from the recent drilling at the Hawsons Iron Project confirm a significant magnetite-iron discovery, with potential to be the largest iron project in NSW.
Executive Chairman Nick Sheard stated "the Davis Tube Recovery (DTR) results are very encouraging because the initial drilling has tested only one magnetic unit out a total of five within the "core anomaly". Should similar material be present in the other four units, this anomaly will have very large magnetite mineralisation tonnage potential.
In addition, the aeromagnetic data within the Hawsons Project area highlight several other untested magnetic features of similar size to the core anomaly. These other magnetic features provide scope to explore for additional large tonnage and potentially increased grade magnetite mineralised systems." He added "This is a significant discovery for both Carpentaria and potentially western NSW given the scale of mineralisation and proximity to infrastructure. It clearly warrants further work to define resources".
Project Background
The Hawsons Iron Project is located 60km southwest of Broken Hill. It occurs within the Neoproterozoic Braemar Iron Formation and is covered by two exploration licences. The southern licence, EL 7208, is 100%-owned by Carpentaria and the northern licence, EL 6979, is a joint venture (JV) with Perilya Broken Hill Limited (ASX: PEM) where Carpentaria can earn a 51% interest initially with the expenditure of A$825,000 (Refer to December 2008 ASX Quarterly Report for detail).
Three reverse circulation drill holes, comprising a total of 606 metres, testing across strike of an elongate magnetic anomaly within the core anomaly were completed. Drilling details including locations are contained in ASX announcement of July 20th 2009.
Davis Tube Recovery Results
The Davis Tube Recovery results confirm geological observations of the drill chips that thick magnetite mineralisation has been discovered at the Hawsons Iron Project. Best results from the drilling for intervals carrying no internal waste using a 20 wt% DTR cut are:
RC09BRP01:4m @ 24.65% DTR with a DTR grade(DTRG) of 70.6%Fe from 194m.RC09BRP02:14m @ 21.86% DTR with DTRG of 69.7% Fe from 163m13m @ 20.33% DTR with DTRG of 70.1% Fe from 183m
These highlighted intersections are contained within a wide envelope of magnetite mineralisation averaging 18.0 percent recovered DTR concentrate. The summary table below shows the drill intersections with a recovered DTR concentrate greater than or equal to 18 percent.
Drill Hole From(m) To(m) Interval(m) DTR% DTRG Fe%-------------------------------------------------------RC09BRP01 160 198 38 18.2 70.6includes 194 198 4 24.7 70.6RC09BRP02 99 214(EOH) 115 18.0 69.8includes 163 177 14 21.9 69.7 183 196 13 20.3 70.1RC09BRP03 105 130 25 18.1 70.6
The quality of the recovered concentrate (DTRG) at the standard 38 micron grind used by the laboratory is excellent, with the average for all composites analysed being:
%Fe %SiO2 %Al2O3 %TiO2 %V %P %S-----------------------------------------70.1 2.4 0.18 0.04 0.023 0.004 0.002
The DTRG indicates the concentrate is composed of a pure iron magnetite with negligible silica and other deleterious elements.
Exploration Target
The magnetic Unit 3 intersected by drilling is one of five parallel units within the Hawsons core anomaly identified in aeromagnetic data (Figure 4). Based on the drilling and modelling of the aeromagnetic data it is interpreted by the Company that magnetic Unit 3 represents an exploration target1 of:
- 100 - 115 million tonnes at 20 - 21% DTR with a DTRG of 69 - 71% Fe
- 415 - 480 million tonnes at 18 - 19% DTR with a DTRG of 69 - 71% Fe
The exploration targets for magnetic Unit 3 are based on a tabular bedding interpretation and assumptions outlined in the table below.
Additional Hawsons Potential
The other four magnetic units within the core Hawsons anomaly have not been tested by drilling and it is clear there is a very large tonnage potential within these units and other large magnetic features identified in the project area (Figure 3).
These results are considered to be very encouraging and Carpentaria intends to undertake further exploration of the untested magnetic units within the core anomaly and the other large magnetic features in the project area. Orientation engineering and metallurgical research is underway to investigate the economic opportunities presented by this new discovery.
For the complete Carpentaria Exploration ASX Announcement, please click the link below:
http://www.abnnewswire.net/media/en/docs/61329-ASX-CAP-213086.pdf
About Carpentaria Resources Ltd
Carpentaria Resources Ltd (ASX:CAP) is focussed on delivering the best quality iron concentrates into the growing premium end of the iron ore market.
The Company aims to build a long term, low cost premium quality iron ore business from the development of its flagship asset, the Hawsons Iron Project, utilising existing infrastructure.
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