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Fenix Resources Ltd.

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Summary

Project:

Iron Ridge

Deposit:Iron Ridge
Location:Australia
Commodities:Iron-Aluminium-Phosphorus-Silica-Titanium
Date:7/30/2019
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Feasibility Study
Report details:30-7-2019: Fenix Resources Ltd. announces an Exploration/Drilling Update report for its Iron Ridge deposit at the Iron Ridge project. Drilling results incl. 63.45m @ 63.15% Fe, 3.40% Al2O3, 0.076% P, 3.80% SiO2. The Directors of Fenix Resources Limited (A
Resources:(Resource, I+I): 9.2Mt @ 64.1% Fe, 2.66% Al2O3
CP/QP:[Overall Report]: James Potter (CSA Global Pty Ltd.)
ABSTRACT:The Directors of Fenix Resources Limited (ASX: FEX) are pleased to announce that the Company has received all of the assay results from its recently completed drilling program at its flagship Iron Ridge Project in the Mid‐West region of Western Australia (Table 1 and Figure 1). The diamond drilling program had a dual focus, drilling seven resource definition holes into the shallow part of the Inferred Mineral Resource estimated in March 2019 and three holes for geotechnical test work. In addition to the diamond drilling, five reverse circulation (RC) water monitoring bores were drilled, three of which were sampled as they intersected the BIF units. Water bore drilling techniques differ slightly from resource definition RC techniques with a higher potential for contamination; however, the indicative results are consistent with the previously completed mineral resource focused drilling (both diamond and RC).

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