Updated results “add value” at Davidson Creek

24 December 2007 | 05:31 Code : 16355 Geoscience events
Results of recent RC drilling confirm the discovery of significant iron mineralisation....

  Results of recent RC drilling confirm the discovery of significant iron mineralisation at FerrAus Ltd’s Davidson Creek iron ore project in the East Pilbara region of Western Australia.Results include 32m at 58.4% Fe (DCRC 033), 20m at 58.0% Fe (DCRC 034),0m at 59.2% Fe (DCRC 035), 16m at 60.4% Fe (DCRC 036), 26m at 59.1% Fe (DCRC 037) and 22m at 59.1% Fe (DCRC 038). “The iron ore discovery at Davidson Creek highlights the potential for FerrAus to be a multi deposit company with a large resource base. It is located some 35km from the railway at Jimblebar and adds appreciable value to the company,” said David Turvey, Managing Director. Iron mineralisation occurs in the Marra Mamba Iron Formation in a zone approximately 1,000m long by 250m wide and 12-38m thick that is open along strike. An initial resource statement is planned in early 2008.Mineralisation has low to moderate phosphorus content (0.04- 0.09% P) which is highly valued for its blending properties.According to the company, this discovery confirms the exploration potential for multiple iron ore deposits in FerrAus’ license area. Similar style deposits in the Newman-Jimblebar area are typically 10-50 million tonnes.A recent detailed gravity survey has identified eight (8) additional iron mineralisation targets with exploration potential of over100 million tonnes. Approximately 20,000m RC drilling is planned for early to mid 2008 to further evaluate the iron mineralisation at Davidson Creek and test the gravity targets in the Davidson Creek Project area.

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