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Investigator Resources (ASX: IVR) is exploring for iron oxide, copper, gold and uranium deposits in the southern Gawler Craton of South Australia. The majority of the company's 7,000 square kilometres of tenure is in South Australia, with tenements also in Queensland and the Northern Territory.
One of the company's key projects is the Paris silver discovery and other silver targets within the large newly recognised Peterlumbo epithermal field on north Eyre Peninsula.
Southern Uranium sees potential at Jungle Dam iron ore prospect
Southern Uranium (ASX: SNU) completed a nine-hole (710m) reverse circulation percussion drilling program on March 31, 2010 at Jungle Dam which encountered strong haematite mineralisation in some holes in line with the company’s predictions.
The prospect is held 100 per cent by Southern Uranium under tenement EL3479 approximately 40km north of Kimba on the Eyre Peninsula of South Australia.
The company said the program achieved its primary aims of establishing shallow haematite potential and the likely continuity of iron formations in the 3km long Central Target Zone. Samples were also obtained from four holes for preliminary metallurgical assessment.
Managing Director John Anderson said the new drill results were very encouraging for further iron ore exploration at Jungle Dam.
“Jungle Dam is one of the closest iron ore prospects to the proposed shipping infrastructure at Port Bonython and the extensive target zones offer significant potential for magnetite and haematite resources,” he said.
As predicted from the prior intersection in JDRC009 and gravity modelling, the drilling demonstrated the Central Zone has promising haematite developed over the magnetite iron formation.
Oxidised iron formation of 25m to 50m minimum true thickness has been intersected on three wide-spaced and contiguous sections along 2km of the Central Zone. Magnetic mapping shows the Central Zone to have a potential total strike length of 3km.
An attempt to drill the northern extensions with JDRC018 failed due to the termination of the hole before the target was reached.
The haematite potential of the Central Zone is upgraded by intersections of an upper level of strong haematite mineralisation developed over the magnetite iron formation in JDRC014 and 15 on section 6357250mN.
After JDRC014 did not pass completely through the eastern side of the magnetite iron formation, the section was redrilled with JDRC015 but this hole also stopped before the eastern footwall.
JDRC015 intersected 20m of well-developed haematite then 25m of magnetite iron formation to the bottom of the hole (BOH).
The iron intersections for the Central Zone are submitted for assay. The only prior drill test of the Central Zone was in search for base metals and achieved an incomplete intersection in JDRC009 of 62m @ 36.8% Fe on section 6355250mN.
Drillhole JDRC011 was designed to drill beneath JDRC009 for a more complete drill test and for metallurgical samples but was thwarted by a northwest fault that terminates the southern end of the Central Zone.
After the assays are received, Southern Uranium said it will assess the results and undertake detailed airborne magnetic surveying of the entire prospective area and design.
Firstly, it will do further drill testing of the haematite potential of the Central Zone and secondly, it will do initial drill tests of the three other target zones for both haematite and magnetite iron ore potential.
