Carpentaria Exploration Limited (ASX:CAP) 2.5 To 4.5 Billion Tonne Exploration Target At Hawsons Iron Project Assessed By Independent Consultant
Brisbane, Oct 14, 2009 AEST (ABN Newswire) - The Directors of Carpentaria Exploration Limited (ASX:CAP) are pleased to announce that it has engaged the world renowned independent technical consultants Hellman and Schofield Pty Ltd (H&S) to undertake an assessment of the Hawsons Iron Project with the objective of evaluating the magnetite exploration target for the area.
The Hawsons Project is located approximately 60 km south west of Broken Hill. Based upon the encouraging exploration results to date, the Board engaged independent consultants to scope the economic parameters necessary for a viable development project.
The results of the H&S study suggest that given the cumulative strike length of the magnetic anomalies and an average thickness of the magnetite siltstone of 100 metres and density of 3.2t/m3, the exploration target would be in the range 2.5 billion tonnes to 4.5 billion tonnes with an 18% Davis Tube Recovery (DTR) magnetite grade.
Carpentaria's Executive Chairman, Nick Sheard, stated, "This independent exploration target(1) estimate is in line with internal company estimates. Scope exists for a larger exploration target(1) tonnage given the additional magnetic anomalies in the area not considered in this report.
"In addition to the substantial tonnage potential, conceptually straightforward mining techniques and proximity to infrastructure, the earlier DTR results revealed a very clean magnetic concentrate with iron grades of 69% - 70%. Carpentaria intends to follow up earlier drilling results to determine the full potential of the area and seek to establish an initial Inferred Resource."
Currently Carpentaria is awaiting grade grind curve tests and bond work index results in order to determine processing requirements. These results are anticipated to be received in late October.
(1) The potential quantity and grade of the exploration targets is conceptual in nature and there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource.
For the complete Carpentaria Exploration ASX Announcement, please click the link below:
http://www.abnnewswire.net/media/en/docs/61575-ASX-CAP-214718.pdf
About Carpentaria Resources Ltd
Carpentaria Resources Ltd (ASX:CAP) is focussed on delivering the best quality iron concentrates into the growing premium end of the iron ore market.
The Company aims to build a long term, low cost premium quality iron ore business from the development of its flagship asset, the Hawsons Iron Project, utilising existing infrastructure.
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