CuFe has successfully completed drilling targeting extensions of known mineralisation at its 50%-owned Yarram iron ore project in the Northern Territory despite bad weather.

The 24 hole air core program totalling 1,358m, which also targeted outcropping ore zones and several geophysical targets, intersected goethite and hematite lenses along with surface laterites and enrichment that is typical of this area.

Samples from the program have been delivered to the laboratory for analysis with results expected to return over the coming month.

Meetings have also been held with Yarram traditional owners to explain the company’s objectives and to receive feedback on to best work together.

Work’s not over yet, though

In the near-term, CuFe (ASX:CUF) will also carry out down hole surveys, a detailed LIDAR topographic survey and collect metallurgical bulk samples from surface costeans and cuttings at Yarram.

“It’s pleasing to complete a further drill program at Yarram, which has always been an exciting project for us given there are so few iron ore projects in Australia that host high grade iron ore so close to available capacity at an established port,” executive director Mark Hancock said.

Yarram project

Yarram is located about 110km from Darwin Port and is adjacent to existing under-utilised mining infrastructure.

It has been the subject of significant historical exploration including a 2014 drilling campaign that confirmed the presence of high grade iron ore mineralisation.

Notable historical intercepts are 108m at 65.6% iron from a down-hole depth of 18m and 65m at 66.4% iron from 13m.

 

 

This article was developed in collaboration with CuFe (ASX:CUF), 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.

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