ASX and
Media Release
24 April 2007
BROAD INTERSECTIONS OF HIGH GRADE IRON ORE AT
JIMBLEBAR RANGE PROJECT
KEY POINTS
�
Broad, high grade, near surface
intersections of iron ore mineralisation from first
phase drilling, including:
�
60 metres
@ 60.5% Fe from 6 metres depth (WRKRC60)
�
58 metres
@ 60.6% Fe from 10 metres depth (WRKRC68)
�
44 metres
@ 61.3% Fe from 14 metres depth (WRKRC64)
�
36 metres
@ 61.3% Fe from 26 metres depth (WRKRC69)
�
Follow up resource drilling to
commence immediately
Diversified Pilbara explorer Warwick Resources Limited (ASX:WRK) today
announced broad, high grade iron ore intersections from its initial RC drilling
programme at its 100% owned Jimblebar
Range project.
Jimblebar Range is located near Newman in Western Australia’s Pilbara region and is only 8km from BHP Billiton’s
large Jimblebar iron ore mine and railway (see Figure
2).
Warwick
Resources Managing Director Bruce McQuitty
said the results from Jimblebar Range
were highly encouraging, with high iron grades and low to moderate levels of
contaminants indicating potential for direct shipping ore.
“These
results exceeded our expectations and underline the quality of Warwick’s iron ore
projects and the Company’s ability to generate targets from early stage
mapping and sampling,” Mr McQuitty
said.
“This
is a terrific result for Warwick
shareholders, which now includes major shareholder Atlas Iron Ltd
(ASX:AGO)”.
The project
consists of an area of iron enrichment approximately 1.8km long by 50m to 200m
wide, developed over a south-easterly dipping sequence of banded iron formation
(BIF). In December 2007, the Company announced positive results from initial
mapping and sampling at the project.
The drilling
programme consisted of 17 RC drill holes for a total
of 1,237m (refer to Figure 1 and Tables 1 and 2 for results and drill hole
locations). Two drill holes (WRKRC 65 and 66) in the northern part of the
project were abandoned before reaching target depth due to difficult drilling
conditions, consequently only 800m of the total 1.8km mapped strike length of
iron enrichment has been tested.
The initial
drill results indicate the presence of intense goethite-haematite
enrichment of BIF units, extending from surface to vertical depths of
approximately 70m. At this early stage of evaluation the mineralisation
remains open in several directions, principally along strike and to the
east.
The Company
will move rapidly towards drilling out a resource at Jimblebar Range and has mobilised
a rig for the purpose.
Earlier this
month, Warwick Resources announced a strategic alliance with Atlas Iron Ltd
(ASX:AGO) for the exploration and development of its iron ore projects. Under
the terms of the agreement, Atlas will acquire a 19.9% stake in Warwick
Resources through a share placement and the acquisition of existing shares.
For
further information, please contact:
Warrick Hazeldine
Bruce McQuitty
Purple
Communications
Warwick
Resources Limited
Phone:
08 9485 1254 / Mobile: 0417 944 616
Phone: 08
9481 8181 / Mobile: 0409 929 121
Email: whazeldine@purplecom.com.au
Email: bmcquitty@warwickresources.com.au
Website: www.warwickresources.com.au
Figure
1: Drill Hole Location Plan
Table 1: Jimblebar
Range - first pass
drilling results
|
Hole_id
|
From (m)
|
To (m)
|
Interval (m)
|
Fe%
|
SiO2%
|
Al2O3%
|
P%
|
LOI1000%
|
Comment
|
|
WRKRC56
|
|
|
NSR
|
|
|
|
|
|
|
|
WRKRC57
|
0
|
14
|
14
|
58.16
|
7.10
|
3.30
|
0.073
|
5.73
|
|
|
WRKRC58
|
10
|
26
|
16
|
59.66
|
4.28
|
1.27
|
0.068
|
8.59
|
|
|
WRKRC59
|
0
|
2
|
2
|
56.97
|
6.73
|
3.25
|
0.038
|
8.03
|
|
|
and
|
12
|
38
|
26
|
57.42
|
6.18
|
2.33
|
0.068
|
8.85
|
|
|
WRKRC60
|
6
|
66
|
60
|
60.54
|
3.64
|
1.03
|
0.088
|
8.21
|
|
|
WRKRC61
|
|
|
NSR
|
|
|
|
|
|
|
|
WRKRC62
|
14
|
34
|
20
|
59.02
|
4.87
|
1.91
|
0.093
|
8.14
|
|
|
WRKRC63
|
4
|
12
|
8
|
56.42
|
6.02
|
3.38
|
0.057
|
8.88
|
|
|
and
|
20
|
22
|
2
|
56.23
|
8.48
|
4.41
|
0.056
|
8.41
|
|
|
and
|
24
|
26
|
2
|
55.31
|
11.11
|
3.98
|
0.033
|
5.16
|
|
|
WRKRC64
|
10
|
12
|
2
|
55.32
|
5.70
|
3.12
|
0.117
|
11.10
|
|
|
and
|
14
|
58
|
44
|
61.31
|
3.34
|
1.52
|
0.097
|
6.84
|
|
|
WRKRC65
|
|
|
NSR
|
|
|
|
|
|
Hole abandoned @
37m
|
|
WRKRC66
|
0
|
2
|
2
|
56.64
|
6.16
|
1.44
|
0.068
|
10.7
|
Hole abandoned @
13m
|
|
WRKRC67
|
2
|
4
|
2
|
57.44
|
7.23
|
3.63
|
0.094
|
9.61
|
|
|
WRKRC68
|
10
|
68
|
58
|
60.61
|
2.69
|
0.75
|
0.038
|
9.39
|
Hole terminated in mineralisation
|
|
WRKRC69
|
14
|
16
|
2
|
55.65
|
9.06
|
2.27
|
0.041
|
8.62
|
|
|
and
|
18
|
20
|
2
|
55.33
|
9.32
|
2.36
|
0.029
|
8.63
|
|
|
and
|
26
|
62
|
36
|
61.26
|
3.33
|
1.26
|
0.070
|
7.32
|
|
|
and
|
74
|
76
|
2
|
56.95
|
10.4
|
1.04
|
0.092
|
6.54
|
Hole terminated in
mineralisation at 79m, last 3m not sampled
|
|
WRKRC70
|
2
|
4
|
2
|
56.00
|
8.38
|
2.77
|
0.049
|
7.93
|
|
|
and
|
20
|
22
|
2
|
56.43
|
9.34
|
2.15
|
0.085
|
7.07
|
|
|
WRKRC71
|
6
|
24
|
18
|
61.40
|
4.68
|
0.76
|
0.094
|
6.26
|
|
|
WRKRC72
|
2
|
16
|
14
|
57.65
|
7.94
|
1.77
|
0.071
|
7.14
|
|
Intersections have
been calculated using a 55% Fe lower cut-off. Samples collected as 2m riffle
split composites. Maximum internal dilution = 6m. All samples were analysed by X-Ray Fluorescence Spectrometry (XRF). Loss on
Ignition (LOI) values were determined using Thermo-Gravimetric Analyses at 1000oC.
Results are reported on a dry sample basis. NSR = no significant result.
Table 2: Jimblebar
Range RC Drill Hole
Collar Details
|
Hole_ID
|
Easting
|
Northing
|
RL
|
Depth (m)
|
Dip
|
Comment
|
|
WRKRC56
|
214055.78
|
7404788.50
|
590.62
|
97
|
-90o
|
|
|
WRKRC57
|
213978.04
|
7404734.61
|
597.74
|
82
|
-90o
|
|
|
WRKRC58
|
213925.82
|
7404756.57
|
601.19
|
82
|
-90o
|
|
|
WRKRC59
|
213681.92
|
7404668.36
|
624.78
|
94
|
-90o
|
|
|
WRKRC60
|
213728.56
|
7404653.22
|
620.35
|
112
|
-90o
|
|
|
WRKRC61
|
213991.32
|
7404862.41
|
585.56
|
75
|
-90o
|
|
|
WRKRC62
|
213998.03
|
7404961.40
|
582.19
|
82
|
-90o
|
|
|
WRKRC63
|
213940.83
|
7404992.44
|
585.73
|
76
|
-90o
|
|
|
WRKRC64
|
214013.48
|
7405268.93
|
593.18
|
88
|
-90o
|
|
|
WRKRC65
|
214264.24
|
7405544.27
|
584.25
|
37
|
-90o
|
Hole abandoned due to drilling difficulties
|
|
WRKRC66
|
214153.74
|
7405415.01
|
588.66
|
13
|
-90o
|
Hole abandoned due to drilling difficulties
|
|
WRKRC67
|
214187.10
|
7405176.42
|
577.11
|
59
|
-90o
|
|
|
WRKRC68
|
214096.98
|
7405214.92
|
574.11
|
69
|
-90o
|
|
|
WRKRC69
|
214021.40
|
7405227.95
|
586.05
|
79
|
-90o
|
|
|
WRKRC70
|
213964.94
|
7405295.86
|
596.59
|
46
|
-90o
|
|
|
WRKRC71
|
213661.59
|
7404675.60
|
623.69
|
70
|
-90o
|
|
|
WRKRC72
|
213906.30
|
7404770.63
|
601.43
|
76
|
-90o
|
|
Total metres
1,237
The information in this report to which this statement is
attached that relates to Exploration Results, Mineral Resources or Ore Reserves
is based on information compiled by Mr Bruce McQuitty,
who is a Member of the Australian Institute of Geoscientists. Mr McQuitty is a full-time employee of the Company and has
sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity they are
undertaking to qualify as a Competent Person as defined in the 2004 Edition of
the ‘Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves’. Mr McQuitty
consents to the inclusion in this report of the matters based on his
information in the form and context in which it appears.
About
Warwick Resources Limited
Warwick Resources (ASX:WRK) is an explorer with a diverse asset portfolio
near Newman in the Pilbara region of Western Australia which
is host to world class iron ore mines. The Company’s projects have a
combined area of 1,700km�. Since listing on ASX in February 2007, the Company
has rapidly identified significant iron ore targets on its existing tenure and
has recently acquired further iron ore prospective ground. Through its
relationship with Peak Drilling, the company has access to drill rigs to
aggressively explore its projects. Earlier this month, Atlas Iron Ltd (ASX:AGO)
agreed to acquire a 19.9% stake in the Company as part of a strategic alliance
to deliver a significant iron ore resource in the region.
Warwick’s iron ore projects near Newman include:
Caramulla South - extensive surficial
iron enrichment is evident within an east-west
striking strip of Marra Mamba Formation, up to 120m
wide and 4km long, near the northern margin of the exploration licence. An initial drill traverse returned significant
intersections, including: 21m @ 56.3% Fe from 15m depth and 11m @
59.2% Fe from 9m depth, with low phosphorous levels (average 0.041%).
Jimblebar Range - an area of iron enrichment approximately 1.8km long and from 50m to
200m wide, developed over an easterly-dipping sequence of banded iron formation.
Initial drilling results intersected broad, high grade near surface mineralisation, including 60m @ 60.5% Fe from 6m
depth, 58m @ 60.6% Fe from 10m depth, 44m @ 61.3% Fe from 14m
depth and 36m @ 61.3% Fe from 26m depth.
Jimblebar CID - a 3km long mesa from 75m to 150m wide capped by pisolitic iron mineralisation. An
initial drill traverse completed across the CID demonstrated that the channel
contains up to 7m of iron-rich pisolite grading to 57% Fe. Phosphorous levels are
very low, ranging from 0.020% to 0.025%.
Grassroots Iron Targets - extensive areas
of surficial iron enrichment, developed over banded
iron formation, have been mapped on the Company’s Woggaginna
and Nickel Hills projects. Multiple targets for channel iron mineralisation have been identified on the Company’s
tenements.
Figure
2: Location of Warwick’s
iron ore projects near Jimblebar
***
Issued
by
Purple Communications
Level
3, 28 Kings Park Road, WEST
PERTH WA 6005
Ph:
08 9485 1254 Fax: 08 6263 0455
purple@purplecom.com.au
