CARPENTARIA Exploration has announced that drilling has been completed at the Hawson’s Iron Prospect 60km south west of Broken Hill, New South Wales.
The company says a significant thickness of magnetite bearing iron formation has been intersected. Drilling confirmed the presence of a 140m down-hole thickness of magnetite concentrations within a 185m down-hole section of iron-formation.
Executive Chairman Nick Sheard says the initial observations are encouraging and have exceeded Carpentaria’s expectations of the potential thickness of the magnetite body from geophysical interpretation and surface sampling results. It also provides scope for significant tonnage potential. But he says that the economic significance will not be understood until the assays and Davis Tube Tests are returned in mid-August.
The recent drilling aimed to test the core anomaly. A total of 606m of Reverse Circulation drilling was carried out in three drill holes across the core anomaly.
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