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Emerging mineral explorer, Burley Minerals Ltd (Burley or the Company) (ASX: BUR) is pleased to announce approvals for its maiden drill campaign at its 70% owned Yerecoin Iron Project, in Western Australia which has not been drilled in over 13 years. The initial drilling programme has DMIRS PoW’s allowing for up to 33-holes consisting of a combination of both RC and diamond drilling at the Yerecoin Main deposits. Magnetite resource areas are targeted for infill drilling to upgraded Resource confidence and provide sufficient metallurgical samples.
- Exploration drilling Programmes of Work have been approved by DMIRS1 to drill at the Yerecoin Main Iron Deposit
- Burley recently executed a new land access and compensation agreement over a key portion of the Yerecoin Main Resource area
- Drilling contracts have now been signed for both RC and Diamond drilling programmes
- An infill drilling programme is planned at Yerecoin Main with the aim of increasing the resource confidence and obtain additional metallurgical samples
- Previous processing test work has confirmed Yerecoin can produce a premium iron concentrate at 68.1% Fe suitable for direct reduction iron (DIR)
- Less than 5% of the worlds iron resources are suitable for green steel made from DIR
Burley’s Managing Director, Mr Wayne Richard’s commented:
“We are delighted to have gained approvals for Burley’s maiden drill campaign at the Yerecoin Iron Project. Yerecoin has resources of 247 Mt than can be upgraded into a premium iron concentrate grade suitable for use in green steel production. This is an exciting project as less than 5% of the worlds iron ore production is capable of being used in direct reduction iron production. Yerecoin also has the added advantage of having potentially multiple infrastructure and transport options for exporting iron product.”
Figure 1: Yerecoin Project location and regional infrastructure - rail network, export ports, high voltage power transmission lines and gas pipeline
About Yerecoin Project
Burley owns 70% of the Yerecoin Project located east of New Norcia, Western Australia and around two hours drive northeast of Perth. Exploration activities carried out on the Project to date on the Project have defined significant JORC 2012 compliant magnetite resources within the Project (incorporating the main and south zones) totalling 247 Mt @ 29.9% Fe (68.1% Fe concentrate grade at 32.1% DTR). A number of historical studies have also been completed assessing the technical and economic viability of an operation.
YERECOIN IRON PROJECT SUMMARY
- JORC 2012 compliant magnetite resources 247 Mt @ 29.9% Fe (68.1% Fe concentrate grade)
- Highly favourable metallurgical characteristics including coarse grind size – 106 micron
- Premium iron concentrate product with low impurity levels suitable for green steel production
- Potential mining and processing options evaluated by historical studies
- Multiple infrastructure options for exporting iron product
This announcement has been authorised for release by the Board of Burley Minerals Limited.
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This article includes content from Burley Minerals Ltd., licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
Click here for the full ASX Release
This article includes content from Asian Battery Metals PLC, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
