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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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EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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