PepinNini Minerals (ASX:PNN) has been granted an exploration license at EL4965 Mt Victor covering approximately 1,218 km² in the Curnamona Province of South Australia.
The tenement forms part of the Sinosteel PepinNini Joint Venture Alliance in which PepinNini holds a 40% interest.
A number of other gold and copper prospects are located within EL 4965 which also contains potential for a large magnetite resource within the Braemar Iron Formation.
The Joint Venture has prioritised the investigation of the iron ore potential to assess the potential magnitude of the resource and metallurgical characteristics of the magnetite at the Mt Victor Iron Ore Prospect.
Exploration within the Curnamona Province Project area, which includes the Crocker Well Uranium Deposit, is being managed by Sinosteel PepinNini Curnamona Management Pty Ltd (SPCM) on behalf of the Joint Venture partners Sinosteel Corporation (60%) and PepinNini Minerals (40%).
The Joint Venture will explore the iron ore potential of the Braemar Iron Formation.
Results from a drilling program completed during the previous quarter at the Macdonald Corridor Prospect confirm the potential for a very large magnetite iron ore resource which could be beneficiated to a high grade blast furnace feed product.
Davis Tube Recovery (DTR) results from 5 samples submitted to determine initial optimum recovery parameters produced a sample concentrate with low impurities (SiO2 < 5%), relatively high mass recovery (average 20%) and high Fe content (average 68%).
The Nillinghoo Goldfield is located within the tenement area and has been the focus of most of the previous exploration activity.
Subject to obtaining statutory and heritage clearances an aeromagnetic survey followed by an extensive drilling program is planned to investigate the Mt Victor Iron Ore Prospect as soon as possible.