Magnetic Resources (ASX:MAU) Significant Widths Of Magnetite Up To 108m @ 39.9%Fe At Jubuk
Perth, Oct 8, 2009 AEST (ABN Newswire) - Magnetic Resources (ASX:MAU) Preliminary Davis Tube testwork results on surface samples from the Jubuk magnetite prospect near Corrigin, WA, have been received. The samples used for the preliminary testwork were taken from four discontinuous chip sampling traverses mostly taken across the strike of the outcropping coarse grained, recrystallised Jubuk banded iron formation. The four samples were taken within a strike length of 1.4km. The average grades of the sample traverses are shown in Table 1.
The sample results (average 37.9% Fe over 64m length) indicate significant widths of magnetite-bearing iron formation correlating with a strong magnetic anomaly outlined by ground magnetic surveys. The magnetic target zone remains open to the south below soil cover and forms the central part of a much larger magnetic zone, more than 30km in length. Magnetic Resources is targeting 200-300 million tonnes of coarse grained magnetite-bearing iron formation within the central 10km zone of the stronger magnetic anomalies. This target tonnage is based on surface sampling, aeromagnetics and ground magnetic surveys. The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource at this stage.
The Davis Tube test results are shown in Table 2.
The results indicate that a high iron product with a low phosphorus content can be achieved and that some of the near surface magnetite appears to be weathering to other iron oxides, reinforcing the need to obtain fresh rock samples for further testing. A programme of RC and diamond drilling is being planned once cereal cropping has been completed towards the end of the year.
Magnetic recently signed a land access agreement over the central part of the area of interest, paving the way for this drilling to proceed. As previously reported, Magnetic has qualified for a state government grant of A$45,000 towards exploratory drilling at Jubuk, supporting the merit of this iron ore target.
In addition, following the encouraging preliminary test results, Magnetic has applied for a further 520sq km of tenements increasing its landholding at Jubuk to more than 660sq km. The additional tenements cover aeromagnetic targets which may indicate further areas of coarse grained, recrystallised banded iron formation.
Table 1 - Jubuk Chip Sampling Results---------------------------------------Sample Number Fe% Sample Length m---------------------------------------JURC017 39.9 108JURC020 34.3 48JURC023 37.3 49JURC025 37.8 51---------------------------------------
Crushed pulverised 20kg samples, Fe determined by XRF analysis.
Table 2 - Jubuk Davis Tube Results----------------------------------------------------------Sample Number Magnetite Magnetite Fe SiO2 Al2O3 P Recovery% Content% % % % %----------------------------------------------------------JURC017 24.8 31.2 69.1 0.9 0.6 0.01JURC020 20.6 14.3 62.2 10.6 0.6 0.01JURC023 31.0 6.6 66.3 4.9 0.7 0.01JURC025 31.0 9.0 63.8 7.4 0.6 0.01----------------------------------------------------------
Test samples crushed and then pulverised for 30 seconds.
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