stage 2 drilling shows outstanding results, page-3

?? Final assay results received for the 5,000m Phase 2 of RC drilling
?? Drilling has now consistently intersected the thick, shallowly
dipping magnetite bearing BIF unit over a 10km strike
?? DTR testing again shows excellent weight recoveries and
concentrate grades with low silica and negligible phosphorus
and sulphur
?? Overall Exploration Target for magnetite of 1.5 -2.0Bt grading
30%-40% Fe
*

?? Modelling and calculation of JORC compliant Inferred Resource
for whole Western BIF target by SRK Consulting underway,
results expected end January
?? Outstanding metallurgical test work results highlight a relatively
soft magnetite with low Bond Work Index, high weight recovery
and coarse grind for premium concentrate, low power costs.
?? 7,000m Phase 3 Infill drilling to commence late February to
convert part of JORC Inferred Resource to Indicated category