Coziron Resources’ (ASX:CZR) exploration drilling has discovered...

Coziron Resources’ (ASX:CZR) exploration drilling has discovered a new style of magnetite mineralisation at its Yarraloola project in the West Pilbara, Western Australia.
   
The Ashburton Schist is 12 kilometres long and 1 kilometre wide.

It is also located immediately adjacent to the proposed Baosteel railway and approximately 40 kilometres from CITC’s SINO project and 60 kilometres from Cape Preston, offering a number of potential infrastructure solutions and commercialisation opportunities.

Three 202 metre deep holes in the Ashburton Schist intersected magnetite mineralisation hosted mainly by chloritic and schistose, intermediate to rhyolitic volcanics and carbonaceous phyllite.

Geological setting is confirmed as being Ashburton Trough with an “Algoma” (volcanic) setting rather than an outlier of the Hamersley basin sequence.

Follow-up work to assess the commercial significance of the discovery includes additional reverse circulation drilling to determine the true thickness and continuity of the magnetite-rich schists and completion of three diamond holes to obtain representative geological sections.

The company will obtain physical properties measurement from the diamond-core such as compressive testing and bond work-index which will enable cost-recovery factors for the magnetite concentrate to be evaluated.