Burley begins its hunt for channel iron deposits at Broad Flat Well with a bang
Special Report: Burley Minerals’ hunt for channel iron deposits at its Broad Well Flat project in WA’s Pilbara region is off to a fantastic start with rock chip sampling returning an average grade of 56.3% iron.
The ~223km2 Broad Well Flat project sits within the world-class Hamersley iron ore province, which is chock-full of producing projects operated by the giant iron ore miners, giving a hint as to its potential for scale and economic grades.
Broad Well Flat is also just ~115km by sealed road from Dampier Port, granting it easy, year-round access to a potential export route and services.
Adding interest for Burley Minerals (ASX:BUR), the project itself is already known to have the potential to host channel iron deposits (CID) with historical rock chip assays returning up to 61.5% iron.
CIDs are iron-rich sedimentary stream deposits that are a significant source of iron ore in projects such as BHP and Rio Tinto’s Yandicoogina deposits and the latter’s Robe operations.
BUR has now proven the iron ore potential of Broad Flat Well after the 36 rock chip samples collected from CID outcrops returned an average grade of 56.3% iron, with a maximum value of 59.4% iron.
This identified about 660,000m2 of sub-outcropping CID mineralisation in three deposits with thicknesses of 2-10m evident in breakaways.
The target areas were interpreted to possibly comprise higher iron grades, topographically higher, and have not yet been sampled to date.
Sampling was conducted on traverses spaced 400m apart – and along the traverses at approximately 50m spacing – orthogonal to the main trend of the palaeo-drainage systems.
“The assay results received from Burley’s Broad Flat Well iron ore project provide an exciting start to revealing the extent of CID deposits,” BUR managing director Stewart McCallion said.
“These iron deposits are high-lying and readily accessible for RC drilling, which will commence when statutory approvals are received.
“Furthermore, Burley has identified other CID targets within the tenement, and we look forward to getting back on the ground and advancing these as well.”
BUR is now planning a first-pass reverse circulation drilling program to test the mesa-form CID targets.
More mapping and rock chip sampling is also being planned to test the project’s potential to host additional CID mineralisation.
This article was developed in collaboration with Burley Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.