NEW ASSAY RESULTS CONFIRM EXTENSIVE HIGH GRADE IRON ORE MINERALISATION AT RAILWAY BOUNDARY ZONE
At the time of reporting (ASX 17 April 2009), the 122 m of bedded mineralisation in hole UI 767 represented the widest zone of bedded mineralisation known at the Railway Deposit. Outstanding in the new data is drill hole UI831 which has intersected 136 m of high-grade bedded mineralisation grading 62.7 % Fe from 54 m depth, emphasising a significant thickening of this mineralisation in the south-eastern section of the Railway Deposit. Further drilling is required between holes UI 831 and UI 605 to complete the section.
Further and even more significant visual iron mineralisation was reported from the RC holes east of the Section Line 674175 (see ASX release 14 May 2009). Additional assays are expected shortly and will be reported when received and assessed
UMC Price at posting:
90.0¢ Sentiment: Hold Disclosure: Held