Australian Stock Exchange Exchange Place 2 The Esplanade PERTH WA 6000
Ground Magnetic Survey Commences at Rawang Gadang Iron Ore Project
Coziron Resources Ltd (ASX: CZR) is pleased to announce that an initial twenty seven
(27) line kilometre ground magnetic geophysical program has commenced at the Rawang Gadang Iron Ore Project (“Rawang”) in Sumatra, Indonesia. The proposed program comprises twenty seven (27) line kilometres of ground magnetics over four (400) hundred metre spaced lines. The program may extend up to fifty four (54) line kilometres over two hundred (200) metre spaced lines; which will be determined on first past ground magnetic results.
The program is expected to be completed in approximately two weeks and is designed to test the lateral extent of the magnetite mineralisation. The data will prove invaluable for generating first pass drill targets under the volcanic cover.
The program will target a highly prospective zone of magnetite which extends 400 metres east-west running semi parallel to the Sumatran Fault Zone (SFZ), and is exposed for 100 metres in width. The host rock is a Quaternary volcanic sequence of tuffs and lavas and the prospect appears to be flanked north and south along strike by volcanic flows, truncated to the south by the SFZ, and dips under volcanic flows in the east.
There is significant potential for the Rawang project to host a high grade mineable ore body, as the mineralisation is exposed in 10 east-west trending trenches and exposes multiple stacked sheets of blocky magnetite, roughly dipping in sympathy with the slope. The mineralisation appears to be continuous within the area defined by the trenches.
Level 3 102 James Street Northbridge WA 6003 Ph: 9227 7766 Fax: 9227 1370 www.coziron.com
The Rawang Project has produced significant regional geochemical results with consistent grades of around 64%Fe. Composite trench sampling has peaked at 89.25%Fe.
High grade iron ore mineralisation along strike and down plunge of the Rawang Project provides a potential opportunity to bring early production and cash flow to the Company.
Significant results from the ground magnetic geophysical survey will be made available at the earliest opportunity.
For further information please contact:
COZIRON RESOURCES LTD
Lam Fatt Tan (Executive Director – Corporate) Greg Burns (Executive Director – Technical)
T: (08) 9227 7766 F: (08) 9227 1370 W: www.coziron.com Level 3 102 James Street Northbridge WA 6003 Ph: 9227 7766 Fax: 9227 1370 www.coziron.com
CZR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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