Eastern Iron (ASX: EFE) is successfully delineated a maiden iron JORC Resource of 100 million tonnes at 13.8% iron at the Hawkwood Project in central Queensland.
The company is investigating the potential for the development of magnetite iron ore deposits at two projects, Eulogie and Hawkwood, in Queensland.
Chip samples from a recent reverse circulation drilling program were assayed for iron and associated elements and subjected to Davis Tube Recovery analysis.
The resource is based on a lower cut-off grade of 10% Davis Tube Recovery, which included high quality concentrate, including 64.6% iron, 0.6% vanadium and 1.6% titanium.
Drilling at Hawkwood covered a portion of an area which hosts an estimated exploration target tonnage of between 500 and 1,000 million tonnes.
The drilling program comprised 17 holes for 2,689 metres and was designed to test magnetite-bearing ferrigabbro identified in an earlier airborne magnetic survey.
Eastern Iron’s projects in Queensland are in close proximity to existing rail and port infrastructure on the central coast.
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