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Carpentaria Exploration Ltd.
Summary
| Project: | Hawsons | |
|---|---|---|
| Deposit: | Hawsons | |
| Location: | Australia | |
| Commodities: | Iron-Silica-Aluminium-Phosphorus-Sulphur | |
| Date: | 12/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-12-2016: Carpentaria Exploration Ltd. announces an Exploration/Drilling Update report for its Hawsons deposit at the Hawsons project. Drilling results incl. 200m @ 69.9% Fe from 105m (16.8% DTR). Emerging iron producer Carpentaria Exploration Limited ( | |
| Resources: | (Resource, I+I): 1.77Bt @ 69.7% Fe | |
| CP/QP: | [Overall Report]: Q.S. Hill (Internal) | |
| ABSTRACT: | Emerging iron producer Carpentaria Exploration Limited (ASX:CAP) announced today positive results from a recent drilling programme at its Hawsons Iron Project. The programme, aided by the Company’s recent successful capital raising, is designed to support a resource upgrade and planned new prefeasibility study for the Company’s flagship project near Broken Hill. Drilling comprising 5,963m in 20 reverse circulation (RC) holes was completed on Friday and included additional drilling in the Fold prospect (Figure 1). The drilling targets upgrading significant portions of the resource from JORC Inferred Resource to JORC Indicated Resource which, if achieved would boost confidence in the project’s economic viability1 . A resource upgrade is set to form part of a new prefeasibility study for Hawsons, scheduled for completion in the second quarter of 2017. Carpentaria’s Managing Director Quentin Hill said the early results indicated the resource upgrade programme is on track for one of Australia’s highest quality emerging iron projects. “We have received results from the first twelve holes, and so far the geological interpretation is proving very robust and the analytical results so far are in line with our expectations. This gives us confidence we can achieve a significant upgrade from Inferred Resources to Indicated Resources,” Mr Hill said. “Should this be achieved, it is planned that a new resource estimate will support a revised mine plan for use in a prefeasibility study for Hawsons, due in quarter two next calendar year.” | |
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