The Hambidge prospect occurs approximately 20km to the south of the Warramboo orebody, within the same exploration licence.The prospect is defined by a large magnetite anomaly that was tested in 2011 by drilling four traverses comprising a total of 12 diamond drill holes.Note that the exploration licence outline shown in the figure has since been reduced by 25% with all prospects/targets unaffected/retained.An additional exploration licence adjacent to the eastern flank of the Hambidge prospect is also held by the Company (not shown).Refer ASX Release ‘Central Eyre Iron Project – Hambidge’ dated 29 November 2011.
Wow so there’s potentially much more orebody to be discovered - a lot of untapped value in this company imo
IRD Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
