|
Located in the northern part of Central Yilgarn Iron Province (CYIP), Mindax's (YilgIron Pty Ltd) promising Mt Forrest Iron Ore project lies 150 km north-west of the railway line at Menzies which connects with the Port of Esperance iron ore export shipping facility.
The project covers seven Mining Leases over 50 sq km and includes extensive iron formation varying from 500 to 2000 metres width, over 17 km of strike.
It is a major mineralised system with significant Exploration Targets of both Hematite and Magnetite materials.
DSO Hematite-Goethite mineralisation
- Inferred Resource (JORC) of 1.2 Mt @ 54.8% Fe at Toucan (16 drill holes)
- Within a revised Project Conceptual Exploration Target of 100 -110 Mt @ 54 – 58% Fe
PMB Beneficiable Magnetite materials
- Inferred Resource (JORC) of 387 Mt @ 31.4% Fe at Toucan, Macaw, Paradise Bore and Bulga North prospects
- Within a revised Project Conceptual Exploration Target of 2.5 - 2.8 Bt Fe @ 31 – 36%
Permitting issues have been resolved and drilling is in progress (9000 m) with the aim of converting Targets to Resources towards a September review date.
The scout phase will be approximately 80 holes for 4000 m with the
Resource Definition drilling accounting for about 5000 m.
The Mt Forrest Project also includes the Paradise Bore indicated/inferred oxide resource of 36,000 oz gold. This is hosted by the Cabaret Trend, a mineralised structure along the West Limb that has returned drill intersections of >3 g/t over 10 km.
Disclaimer: There has been limited drilling of Conceptual Exploration Targets and accordingly there has been insufficient exploration to define a Mineral Resource. The target quantity and quality is conceptual in nature. Being conceptual in nature it is not certain that further exploration will result in the determination of a Mineral Resource.
|