Coziron Resources (ASX:CZR) should trade higher after making an...

Coziron Resources (ASX:CZR) should trade higher after making an interval of Robe Channel iron system on its Yarraloola Project in Western Australia.

A capping of well-sorted, pisolitic iron-stone in excess of 10 metres thick, over a strike length of about 2.5 kilometres where samples reported iron grades to 59.4% was uncovered.

An outlier of the Redgate Channel system also has a capping of well-sorted, pisolitic iron-stone, up to 50 metres thick which extends over an area of about 300 metres long by 100 metres wide with iron to 60.1%.

The Robe and Redgate Channel systems both represent priority drill targets with a plan for up to 2000 metres of reverse circulation drilling to commence in August once statutory and heritage approvals are received.

In addition, a 4 kilometre long extension to the Whitegate Channel has been identified in a palaeo-valley up to 50 metres thick cutting the Brockman Iron Formation.

Surface samples of pisolitic iron-stone report iron to 59.9%, and detailed mapping and identification of access routes for future drilling is underway.

Pisolitic surficial debris in the lower part of the Robe River Channel system has been targeted for more detailed mapping, and iron-stones from an outlier of the Barbeque Valley Channel reported iron to 58.3%.

Work to identify the westerly extension of the system beneath cover has also commenced.

Peters Creek Channel reported iron to 57.9%, where mapping shows the width, thickness and sorting of the pisolites to be increasing to the west.

In March, the company completed a placement to sophisticated investors to raise $2.5 million, via issue of 125 million shares at $0.02.

Proceeds from the placement will be used to fund exploration at Yarraloola, as well as the Buddadoo Iron-ore Project in the Midwest and the KingX Manganese Project in the Earaheedy Basin.

These projects were recently acquired from the Creasy Group.