great iron ore announcement ..

From the TRF controlled IFE:

The Directors of Ironclad Mining Limited .. are pleased to advise that drilling on the Wilcherry Hill Project has identified iron mineralisation over 800 metres of strike at Ultima Dam East, with higher grade hematite mineralisation overlying magnetite.

The hematite mineralisation indicates the potential for producing direct shipping ore from the project which was considered in an initial desk-top study only as a potential producer of blast furnace or direct reduction grade concentrates from its high quality crystalline magnetite resource.

Concurrently with the latest drilling results, initial Davies Tube recovery (DTR) results from magnetite mineralisation at the Mathews anomaly have provided high mass recoveries and excellent quality concentrates, similar to the earlier results from Weednanna."

Check out the full ASX announcement.