Further highlights from this mornings quarterly...Corunna Downs...

Further highlights from this mornings quarterly...

Corunna Downs Iron Ore Project, East Pilbara:
• Preliminary processed aeromagnetic & radiometric data received from Fugro confirm significant linear aeromagnetic anomalies over at least 13km in strike and up to 800m wide.
• Assay results from detailed helicopter-assisted iron rock-chip sampling program completed in October up to 62.28% Fe.
• Preliminary metallurgical test work to commence on iron samples in November.

Infrastructure
The project’s favourable location 170km south east of Port Hedland provides excellent transport and energy infrastructure to ship ore from Corunna Downs directly to the port via road or rail.

Two possible routes for ore transportation to Port Hedland are currently being considered.

Firstly, the old Marble Bar to Port Hedland rail line which was decommissioned in the 1950’s is currently being reassessed for the Company by a rail specialist for refurbishment potential along the historic rail reserve.

Secondly, road infrastructure is excellent from Marble Bar to Port Hedland with 90t road trains using the road from the Woodie Woodie manganese mine to Port Hedland daily.

Both transport options will be assessed should the drilling program outline an economic mineral occurrence.

Further extension looks likely with the statement... "A new +5km aeromagnetic anomaly in tenement ELA 45/3320 is under an an unknown thickness"..."does not include over 5km in length", (fig 4...beneath a basalt cap)