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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 shallow DSO potential at Jungle Dam iron ore project
Southern Uranium's (ASX:SNU) exploration program in the southern Gawler Craton of South Australia has achieved early success from continuous rock chip samples across the main outcrop, returning consistently high grade iron at Jungle Dam on the Eyre Peninsula, and early drill indications of copper at Ridgeback on the Yorke Peninsula.
The Jungle Dam iron ore project is favourably located on Eyre Peninsula close to the coast and railheads so the project would be well placed to compete with more remote South Australian iron ore deposits.
New sampling at Jungle Dam has revealed wide outcrops of high-grade iron in the new Central West Target Zone. Continuous rock chip sampling along two parallel traverses across the main outcrop and rubble area returned consistently high iron values averaging 55 to 57% iron (Fe) over surface widths of 50 to 60 metres.
In addition, initial drilling along the Hillside trend at Ridgeback has confirmed encouraging alteration and copper mineralisation in the extensions to the Pine Point Fault Zone (PPFZ) and further drill tests are being planned.
John Anderson, managing director, said “the outstanding outcrop assays at Jungle Dam indicate significant potential for shallow Direct Shipping Ore over the two kilometre long magnetic zones at Central West with other similar magnetic zones also remaining to be drill tested.”
“We have good encouragement to continue exploring the 30 kilometres of the PPFZ that we control at Ridgeback,” he added.
Southern Uranium is seeking a drill contractor to commence drilling of the Central West Zone as soon as possible with the aim of determining by early 2011 whether an iron ore resource can be established to Inferred Category at Jungle Dam.
