Funny how things work out over the years - here is an extract from an Ironclad release back in 2010:
As importantly for investors, IronClad geologists have further defined a series of skarn magnetite targets over its tenements (976 km²) at Wilcherry Hill. As a result of this work the target potential for skarn magnetite has increased from (200-300Mt) to (600 -700 Mt.).
The mineralisation has low levels of contaminants and will be mined from 3 different ore bodies which are all near surface and easily mineable, boosting project economics.
And from 2012:
Earlier this month, IronClad began a 2,000 metre grade control drilling program at Wilcherry Hill, focused on the Weednanna deposit where mining will begin. The program is targeting near surface direct shipping ore.
So all those massive subeconomic Magnetite Iron deposits actually did have contaminants in them! And some of the contaminants are gold.
Makes you wonder where the rest of the pulps are for the historic drilling.... the recently released gold results are just from the 2012 drill programme.
Its early days yet but the shallow depth and sub-horizontal orientation of some of the higher grade gold intercepts certainly seem to have a bit of a tertiary/recent weathering zone and supergenr enrichment look to them don't they?
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Ann: AGS: High Grade Gold Results - Weednanna Gold Prospect, page-8
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