Well, I was trawling through the old WAMEX reports again and...

Well, I was trawling through the old WAMEX reports again and came across some historical data on Polaris' Bungalbin tenements.

From what I can gather Polaris hold the Central and East Bulgabin iron ore deposits on their tenements.

Resource estimates from BHP back in the 60's estimated the Eastern deposit to hold 48m tonnes at 58% Fe with 0.14% P. Early Government reports also estimated the Central deposit to contain 12.5mt at an average grade of 62% Fe with P of 0.09%. Note these are probably non-JORC resources hence why POL don't quote them.

There are other deposits mentioned in the report which may also be on POL's ground. Looking at the geological map, POL hold almost all of the mapped Banded Iron Formations around Bungalbin, plus back towards Mt Jackson. They have some very good ground.

Poor old Gondwana. They had most of the ground around Southern Cross which is now held by Polaris and Portman. Lol. Read the report - they are pretty negative about it all. If only they had held onto the tenements for a few more years then they could of been in Portman's position!

Link:
http://www.doir.wa.gov.au/wamex/item_details_rep.asp?m_num=8777&sub_num=0&PageNo=1&Totalrecs=3