LM1 may have another Robe River channel iron ore deposit on its hands. Pic via Getty Images.
Potential Robe River lookalike an exciting iron in the fire for Leeuwin Metals
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- >50% Fe grades identified along a 1.7km strike at West Pilbara iron ore project
- Mineralisation remains open along strike
- Further mapping, sampling and surveys across targets to kick off shortly
Special Report: Satellite imagery and regional mapping of Leeuwin Metals’ West Pilbara iron ore project has identified compelling iron ore targets, with values of >50-55% Fe along a 1.7km strike.
The mapping has shown that Leeuwin Metals’ (ASX:LM1) West Pilbara project is prospective for channel iron deposits (CID), with multiple target areas present within the project.
CIDs are a major source of cheap iron ore that is close to the surface and can be calcined into 63%+ Fe, mined nearby at Rio Tinto (ASX:RIO) 326Mt @ 56.3% Fe Mesa A and CZR Resources (ASX:CZR) 33.4Mt @ 55% Fe Robe Valley in the Pilbara’s Robe River region.
New CID targets
The target areas are close to the North-West Costal Highway and near excellent existing infrastructure, just 150km southwest of Ashburton Port (Onslow) and the port of Port Headland 380km to the northeast accessed via sealed highways.
LM1 says they’ve been found to be highly prospective for buried CIDs within the BBQ Valley trend, where transported cover is present.
Mineralisation is a fine-to-coarse conglomerate of iron rich detrital material, dominated by goethite dominant pisolites and cemented by iron oxides, that has undergone variable amounts of weathering and alteration.
Initial field work indicates potential for sub cropping and outcropping CID mineralisation, highlighting the BBQ Valley trend as a priority for follow-up field work – which will include detailed mapping, sampling, and geophysical surveys to better delineate the mineralisation.
“The assay results received from West Pilbara Iron Ore Project provide an exciting start to revealing the extent of a potential CID deposits in a world class region in WA,” LM1 managing director Christopher Piggott says.
“With these first pass results there is potential for a project of scale, with encouraging grades and low impurities.
“The Pilbara is home to world class iron ore mines with the region well supported by excellent infrastructure within access to Leeuwin’s tenure.
“With exploration ongoing by Leeuwin’s dedicated staff at the Cross Lake lithium project in Manitoba, Canada and work programs running in parallel by the WA team, we look forward to providing strong news to market in the second half of 2024.”
LM1 says mineralisation remains open along strike with follow up field work to commence in the coming weeks.
The explorer plans to kick off a two-week field mapping and rock chip sampling program across the target areas. And while the tenure is currently pending, a priority is being made to advance it to grant by finalising all necessary third-party agreements.
This article was developed in collaboration with Leeuwin Metals, 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.
