drilling under way..

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see below todays announcement..

ABN 45 078 548 562
702 Murray Street, West Perth, WA 6005
Telephone 61 8 9420 1700 Facsimile 61 8 9420 1777
Website: www.aztecresources.com.au
Email: [email protected]
Australian Stock Exchange Code: AZR
17 February 2004
MEDIA RELEASE
Drilling Underway at Koolan Iron Ore Project
AZTEC Resources today commenced the first phase of drilling at the Koolan Iron Ore
Project in North West, Western Australia. Aztec is targeting to increase its current resource
of 25 million tonnes of high grade Iron Ore (67%) at Koolan.
The current drilling programme will test strike extensions of previously mined high grade ore
bodies. Phase 1 of the programme aims to define the continuity of the iron ore horizon with follow
up drill testing to increase the current resource base.
Exploration by Aztec to date has identified 8 separate areas along strike of the main and satellite
pits where hematite iron ore outcrops with average widths of 20 metres returning grades of up to
68% iron with low impurities.
Ian Burston, Chairman of Aztec said “These results prior to the drilling campaign are very
encouraging. We now plan to drill 100 holes and over 7000 metres of reverse circulation drilling”.
Of the 100 RC holes planned, half will comprise infill and step-out drilling of the existing ore bodies,
while the other 40 or so holes will include first pass testing of other satellite ore bodies.
Aztec recently boosted its exploration team with the appointment of Mr Dave Fielding who brings
over 30 years experience in exploration and evaluation of mining projects including the role of
Chief Geologist CRA Exploration (now Rio Tinto) and more recently with Portman Mining Ltd SA
exploration.
Background Information
Koolan, located in the Yampi Sound on the west coast of Western Australia’s Kimberley region,
was mined by BHP between 1965 and 1993 producing 68 million tonnes of iron ore. BHP’s
relatively small production at Koolan (of around 3 million tonnes a year) was tiny compared with
that of its nearby Pilbara operations. Rather than commit to relocating the crusher and loading
facilities to mine beneath them, it closed the operation. In 2003 Aztec announced a resource 25
million tonnes of ore grading 67% iron in the main pit. The drilling program will test extensions of
the main pit and other satellite ore bodies.
For further information contact:
Ian Burston Office (08) 9420 1700
Joanna Ball, Investor Relations 0417 177 977
www.aztecresources.com.au

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