Metalnewsnet 5 Feb:

The Jubuk iron ore project area near Corrigin has been significantly enhanced during the quarter with the receipt of test work, the completion of a large regional airborne magnetic and radiometric survey and commencement of drilling.

As previously announced, Magnetic has completed an airborne regional magnetic and radiometric survey over the 650 square kilometers Jubuk project area. This survey totalled 4,628 line kilometers at 100 meters or 200 meters line spacings. Preliminary interpretation of the data has defined five main target areas covering 70 kilometers of potential iron formations.

Target 1 encompasses the Jubuk outcropping, coarse grained, recrystallised banded iron formation which covers a strike length of 1.4 kilometers and forms a prominent hill.

The prospective iron targets have now been extended to 12 kilometers in length. Modelling of the ground magnetic data obtained during the previous quarter has been carried out to refine drilling targets. A 10 hole, 1,200 meters program of RC or diamond drilling program to test the priority Jubuk area has commenced.

Target 2 is located only 2 kilometers west of the Jubuk Target 1 and contains 17 kilometers of potential iron targets. One iron target is 9.5 kilometers long and up to 350 meters wide.

Target 3 located 5 kilometers south east of Target 2 contains 5.6 kilometers of potential iron targets. Preliminary sampling of any outcropping units is also envisaged. The tenement and access agreements encompassing Target 1, Target 2 and Target 3 have been granted and signed respectively, paving the way for follow up activities in the short term.

Target 4 is approximated 8 kilometers west of Target 2 and contains 11.2 kilometers of potential iron targets one of which is 5.5 kilometers long and 200 meters wide.

Target 5 is 5 kilometers north of Target 1 and contains 10.3 kilometers of prospective iron targets, one of which is 3.7 kilometers long and contains 2 separate zones 200 meters in width.

1. Dampling Spring and Harris;

Access agreements covering the main target areas have been signed. Modeling of ground magnetic data over the target aeromagnetic anomalies has commenced, in order to define drilling targets in these soil covered areas. The target area at Dampling Spring is some 6 kilometers in length while at Harris the zone of interest extends over a strike length of about 4.5 kilometers.

2. New Acquisitions;

Following the success of the aeromagnetic survey in identifying specific iron ore targets in an area of poor existing aeromagnetic coverage at Jubuk, Magnetic carried out a review of other areas where the geology appears to be favorable and where existing wide spaced aeromagnetic data indicate iron ore potential close to good infrastructure.

As a result, Magnetic has applied for tenements over numerous potential iron ore targets including mapped BIF occurrences, in the region extending from Lake Grace to Dalwallinu increasing its ground holdings for iron to some 4,750 square kilometers. Field reconnaissance and preliminary sampling of the BIF occurrences is about to commence.


(from steelguru)