Radar Iron (ASX: RAD) has received high grade iron rock chip assays from the Uruara iron ore project in Brazil, where it holds the option to acquire a 50% interest.
Acme Labs assayed 11 rock samples from outcrop and trenches across 5 kilometres of strike, with all but two grading iron around 60% or higher, and with low levels of impurities.
A peak result of 66.1% was returned.
The Uruara project’s prospectivity is based on mapping and trenching which identified extensive areas of massive, high grade iron ore mineralisation at surface.
Field teams are currently re-opening old access tracks to conduct a more detailed mapping program and confirm historic strike extensions defined by local prospectors.
Due diligence on the project is ongoing.
Radar is currently capitalised at around $2 million.
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