Burracoppin Iron Project
This project area is centred on the small township of Burracoppin, approximately 70km west of the main Southern Cross greenstone belt which hosts the Mt Caudan iron deposit recently discovered by Cazaly Resources Ltd. Four tenements (E70/3637, 3638, 3815 & E77/1752) cover an area of approximately 586 km2 and overlie the western limb of the poorly known Westonia greenstone belt.
The Company considers that potential exists for substantial deposits of iron ore and possibly gold and base metals concealed below laterite and other thin soil and sand cover. Although there is little to no outcrop in the area, previous mapping has also detected float and scree of Banded Iron Formation (“BIF”) and ironstone associated with a number of linear airborne magnetic anomalies. Whilst the Company’s initial exploration target is magnetite contained within Archaean quartz-magnetite/BIF units, the ultimate target is one or more large bodies of high grade DSO hematite and/or goethite.
In August 2010 the Company announced that it had located scattered outcrops of Archaean quartz-magnetite/banded iron formation (“BIF”) at Burracoppin. A number of the outcrops display intense alteration of magnetite to goethite/hematite which is consistent with the Company’s view that the area has the potential to contain significant tonnages of Direct Shipping Ore (“DSO”) where intense weathering of BIF has occurred on deeply weathered structures.
The Company collected 16 iron rich samples from outcrops or scattered float from 8 localities. All samples were submitted for iron ore analysis by XRF methods (assays awaited). The locations of these samples are shown below on a magnetic image. Based on the positive results of this first reconnaissance visit to the area, the Company has commissioned a geophysical contractor to fly a low level 100m line spaced airborne magnetic and radiometric survey over its tenements to generate drill targets. This survey commenced in late September 2010.
Burracoppin Project Area - Magnetic Image
