The licensee has performed mineralogical sampling, beneficiation testing, 1:1000 scale geological reconnaissance mapping and an economic evaluation of the Koraleigh micaceous haematite deposits located near Kersbrook, concentrating on establishing...
The licensee has performed mineralogical sampling, beneficiation testing, 1:1000 scale geological reconnaissance mapping and an economic evaluation of the Koraleigh micaceous haematite deposits located near Kersbrook, concentrating on establishing their actual extent outside of the existing Private Mine 258 and Mineral Claim 1718. The host Aldgate Sandstone, characterised by abundant heavy-mineral banding in its lower section, grades locally into a micaceous haematite - bearing sandstone unit which is up to 17 m wide and is traceable over a strike length of 3 km as an extension of the lode worked at the former Mount Bessemer iron mine. Ground magnetometer surveys have delineated high gradient anomalies in places corresponding to outcropping beds of probable higher than average iron content, besides revealing a number of very localised magnetic highs, often associated with magnetic lows, in an area that lacks outcrop. Percussion drilling of 13 holes totalling about 196 m, and drill chip sample assay results, indicate the continuity of mineralisation under cover, with grades averaging 30-40% Fe2O3; the micaceous haematite - bearing sandstones in the southern part of the licence area have the better grades, in bands extending over widths of 2-2.5 m. Inferred reserves approximate 200,000 tonnes of material, most of which is possibly suitable for use as relatively low-cost micaceous iron oxide anti-corrosion coatings for industrial steelwork.
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