• First pass drilling program within Munderra project area completed as first step towards resource delineation.
• Two holes intersect iron-rich sediments with 39m in hole PDRC008 and 14m in hole PDRC015 (intersections not continuous).
• Hole PDRC005 intersected 8m of iron rich sediments from surface.
• Best results over areas of low magnetic intensity suggesting InterMet’s forthcoming gravity survey may generate strong targets.
Very good news. First initial drilling shows iron is up to 39 meters deep. More than the 10 to 20 meters previously thought. So this could significantly increase the tonnage volume. Its also comming from an area not expected to hold such good thick intersections, going by magnetics. This is getting interesting. Could also hold good hematite. Any opinions welcome.
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