Continued encouraging drilling results at Jack Hills

12 February 2008 | 05:21 Code : 16739 Geoscience events
Murchison Metals Ltd has announced that Crosslands Resources Ltd has reported...

  Murchison Metals Ltd has announced that Crosslands Resources Ltd has reported further strong drilling results from the Jack Hills Project in Western Australia.Highlights include:· 80m at 64.9% Fe, 22m at 65.5% and 12m at 61.9% Fe at Mt Hale North; · 10m at 55.8% Fe & 58m at 65.9% Fe at Mt Hale North;· 10m at 61.7% Fe, 22m at 61.6% Fe & 36m at 63% Fe at Mt Hale North; · 34m at 67.1% Fe at Silver Spur; · 36m at 63.6% Fe at Mt Hale; and· 14m at 63% Fe and 112m at 62.6% Fe at Mt Hale. Murchison has a 50% interest in Crosslands with the remaining 50% held by Mitsubishi Development Pty Ltd. According to Murchison, the latest drilling results confirm the presence of wide, high grade lenses of massive iron ore. Murchison Managing Director Trevor Matthews said that the latest results further confirmed the company's belief in the potential of Jack Hills to host a large tonnage, high-grade iron ore deposit. “As a shareholder in Crosslands, Murchison is very pleased the latest results confirm the potential of Jack Hills,” said Mr Matthews. “The results provide us with further confidence that Crosslands will be in a position to define the resources required to underpin the planned significant expansion of the Jack Hills Project.” The Crosslands results incorporate 128 drill holes over 33,763m at the Saddle, Mt Hale, Mt Hale North and Silver Spur (northern end of the Brindal trend). The drilling has also targeted the zone of Beneficiation Ore observed in the Saddle area. Preliminary metallurgical test work has concluded that the Beneficiation Ore can be readily and economically upgraded to a commercial product. Last month, Crosslands reported a significant increase in the JORC compliant Mineral Resources at Jack Hills to 153 million tonnes, an increase of 58% over the previously reported figure of 97 million tonnes. The Jack Hills Mineral Resource now comprises 69.6 million tonnes of Direct Shipping Ore at 60.3% Fe and 83.4 million tonnes of Beneficiation Ore at 42.3% Fe. The area of the mineral resource reported represents approximately 30% of the total strike length to be drilled under a resource definition drilling program which is currently in progress.

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