61 percent io grades, page-2

Another batch of laboratory assay results received by Flinders Mines Limited (ASX: “FMS”)
from drilling on its Hamersley iron ore project in the Pilbara region of Western Australia has
yielded higher iron grades.
The 148 assays just received include “excellent” results in initial assays from the first hole
drilled on the Area D target area which is one of five target areas (A, B, C, D & E) in the
Company’s 100% owned E47/882 Hamersley licence area.
Other assays announced today are from four holes drilled on Area E.
“These most recent results are particularly encouraging because the average iron grade is in
excess of 57.8 % for the intersection from Area D and three of the four Intersections from
Area E,” FMS Managing Director, Dr Kevin Wills, said today.
“All four holes have at least one assay result of greater than 60.0 % iron, with the 22 metre
intersection in drill hole HRC34 including 6 metres at 61.1 %,” Dr Wills said.
“Once sufficient earthworks preparations have been made in Areas B and C a drill rig will be
mobilised as soon as possible with the aim of also confirming the presence of channel iron
deposit (CID) mineralisation in these areas,” he said.
Today’s results from the 148 new assays represent a further 296 metres of drilling across the
Area E and Area D target areas.
FMS has to date send 1991 drill samples for assay with only 386 assay results received to
date.
Area E
Dr Wills said the drilling results returned for the four drill holes in Area E are contiguous over
600m across the channel and are located at the far western end of Area E.
“The depth to mineralisation is between 12 and 22 metres with thicknesses of between 6 and
22 metres,” he said.
“Infill drilling has continued in Area E and is improving the geological knowledge and
confidence in the location of CID.
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“This will allow for the commencement of geological modelling in preparations for
developing an inferred resource for Area E.”
Area D
The first assays from the initial drill hole in Area D returned intersection thickness of 22
metres from a depth of 22 metres.
“This confirms the shallow nature and thicknesses in excess of the initial Exploration target,”
Dr Wills said.
“Drilling has continued in Area D with another four holes completed in the south western
headwater area.
“This shows that the zone of CID mineralisation extends at least 2 km along the channel. The
CID intersections in the headwaters, as demonstrated in drill hole HRC219, are shallow and
exceed the Exploration Target thickness estimate of 8.0m.”
Approvals
FMS also announced today that archaeological clearance for areas A, B and C had been
completed.
The Company said earthworks had commenced in Area C and will co