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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: assays confirm shallow iron ore potential at Jungle Dam
Southern Uranium (ASX: SNU) has received assays for the Jungle Dam drilling completed in March which have confirmed the potential for shallow and extensive iron ore mineralisation at the Jungle Dam prospect on South Australia’s Eyre Peninsula.
The best intersection returned was 43m @ 36.7% iron to the bottom of hole in hole JDRC015. The iron-rich
section may extend further to the east than the intersection the company said in a statement.
Managing director John Anderson said today the new drill assays have encouraged the company to drill additional holes in the other target zones as defined by magnetics in another 11km of strike potential.
“We have now gathered enough information to interpret potential for an extensive haematite and goethite blanket of 30 to 45 per cent iron starting within 10m of the surface and extending down to 70m depth and up to 45m horizontal width in places,” Anderson said.
“Below the haematite, the fresh magnetite iron formation is returning assays of about 20 to 30 per cent iron also over substantial horizontal widths.”
The Jungle Dam prospect is held 100 per cent by Southern Uranium under tenement EL3479 approximately 40km north of Kimba on the Eyre Peninsula of South Australia.
Mr Anderson said the substantial iron intersections had been achieved in the Central Zone as predicted from visual logging of the drill holes.
“The iron intersections confirm the potential for shallow and extensive iron ore mineralisation within the 3km long Central Zone and encourage further exploration of the other target zones delineated by magnetics as aggregating into another 11km of strike potential.”
The prospect lies on a magnetic trend extending south of the Hercules iron ore deposit and is interpreted to be hosted in the same iron formation stratigraphy as the Middleback Formation at the One Steel operations about 50km to the southeast of Jungle Dam.
Jungle Dam is one of the closest iron ore prospects to the proposed shipping infrastructure at Port Bonython.
