ASX and Media Release
11 June 2009
JIMBLEBAR RANGE RESOURCE UPDATE
KEY POINTS
'Inferred Mineral Resource' for Jimblebar Range
increased by 8% to 12.6Mt @ 57.5% Fe
Includes high grade DSO component of 6.9Mt @ 60.6% Fe
with low levels of impurities
Strategic location - only 8km from BHP Billiton's
Jimblebar mine and rail head
Company is examining options for development
Pilbara explorer
Warwick Resources Limited (ASX:WRK) is pleased to announce an updated Inferred
Mineral Resource
at its 100% owned Jimblebar Range iron ore project. The updated estimate
incorporates the results of an additional 17 drill holes completed since the
initial September 2008 estimate.
Jimblebar Range
Project - Inferred Mineral Resource1
|
Cut-off
|
Tonnes
|
Fe%
|
SiO2%
|
Al2O3%
|
P%
|
S%
|
LOI%
|
|
50% Fe
|
12,600,000
|
57.5
|
7.0
|
2.0
|
0.06
|
0.04
|
7.9
|
|
57.5% Fe
|
6,900,000
|
60.6
|
3.6
|
1.3
|
0.07
|
0.03
|
7.7
|
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 (Figure 1). It is one
of several iron ore projects being developed by Warwick Resources in the region.
The deposit consists
of two keel-shaped zones of supergene hematite-goethite mineralisation
overlying a south-easterly dipping sequence of banded iron formation (Figure
2). The deposit has several characteristics that are favourable for mining
including low levels of impurities, a thin layer of overburden (0-26m) and
minimal groundwater.
Warwick Resources'
Managing Director Bruce McQuitty said that the purpose of the resource update
was to demonstrate that Jimblebar Range contains a component of highly
marketable Direct Shipping Ore (DSO) but it was also pleasing to increase the
overall size of the resource.
"We are
examining all avenues for the development of the Jimblebar Range resource,
however our recent exploration success at the nearby Woggaginna project means
that we are looking beyond the development of Jimblebar Range on a standalone
basis".
"Woggaginna is
emerging as the Company's largest DSO project and is our main focus at present.
Our immediate goal is to grow the resource base on our iron ore projects to the
east of Newman", Mr McQuitty said.
The resource estimate
was prepared by Chris De-Vitry1 who is a full time employee of
Quantitative Group (QG). QG are an internationally recognised, independent
consultancy group specialising in resource evaluation. Chris De-Vitry acts as
the competent person for the resource estimate while Bruce McQuitty2
acts as the competent person in respect of the geological interpretation and
data quality on which the estimate is based. Details of the estimation
methodology are contained in Annexure 1.
This resource
estimate incorporates the results of 70 RC drill holes and two diamond drill
holes for a total of 5,149m. Of these, the results of 15 RC drill holes and 2
diamond drill holes were subsequent to the initial September 2008 estimate.
These holes targeted gaps and extensions to the mineralisation. The drilling
pattern is approximately 100m x 30m. The collar locations of the drill holes
are shown in Figure 2.
For further
information, please contact:
Bruce McQuitty
Warwick Resources Limited Since the initial September 2008 estimate in
Phone: 08 9227 6680 / Mobile: 0409 929 121
Email: bmcquitty@warwickresources.com.au
Website: www.warwickresources.com.au
Figure 1: Location of Jimblebar Range project and Warwicks Resources'
tenements near Jimblebar
Figure 2: Plan view of Jimblebar Range Deposit showing
Resource Shells and Drill Holes
About Warwick
Resources Limited
Warwick
Resources (ASX:WRK) is an emerging iron ore 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
3,000km?. 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. Pilbara iron ore producer Atlas Iron Ltd (ASX:AGO) is Warwick's
largest shareholder with a 19.4% stake.
Warwick's
iron ore projects near Newman are:
Jimblebar
Range contains an Inferred Mineral Resource of 12.6Mt
@ 57.5% Fe, with low levels of impurities (2.0% Al2O3,
0.06% P). The deposit consists of two zones of hematite-goethite mineralisation
which extend from near surface to over 70m depth. The deposit is located only
8km from BHP Billiton's large Jimblebar iron ore mine and railway.
Woggaginna has extensive areas of iron enrichment, developed
over Banded Iron Formations (BIFs). RC drill results from Wishbone prospect
include intersections of 53m @ 60.5% Fe, 51m @ 60.8% Fe and 31m
@ 62% Fe from shallow depths. Over 40km of BIF is evident in magnetics,
with only 3km drilled to date.
Caramulla
South contains an Inferred Mineral Resource of 13.8Mt @
53.9% Fe. The deposit consists of two shallow zones
of hardcap Marra Mamba iron mineralisation, each approximately 1,000m long by
150-200m wide. The deposit is located 19km to
the east of BHP
Billiton's Jimblebar iron ore mine and railway and borders on BHP Billiton's
tenements to the north.
Western
Creek contains a 3km long outcrop of Marra
Mamba Formation with iron enrichment. Based on
positive results from limited drilling to date, the Company considers the
Western Creek project to have a Marra Mamba exploration target of 13 to 21Mt
at 56% to 59% Fe. The project contains other iron ore targets including
CIDs and enriched BIF.
McCamey's South adjoins BHP Billiton's McCamey's Monster mining lease
and contains four Marra Mamba iron ore targets. Initial RC drilling results
include 10m @ 55.5% Fe and 12m @ 54.8% Fe.
Jimblebar
CID - a 1km long zone of pisolitic iron mineralisation up to
100m wide and 7m thick and grading up to 57% Fe has been outlined by drilling.
Ten Mile CID is a recently identified channel iron target over 3km in length and up
to 400m wide, with potential for further mineralisation beneath shallow cover.
Initial rock chip sampling returned grades up to 58.5% Fe.
Grassroots
CID Targets - Multiple targets for
channel iron mineralisation have been identified on the Company's tenements.
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