Could channel iron be the second commodity at Pantera’s Weelarrana project? Pic: via Getty Images.
Sampling drives extension of channel iron mineralisation at Pantera’s Weelarrana project
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Pantera has uncovered more evidence that its Weelarrana project near Newman in Western Australia could host rich iron ore deposits, after extending recently-identified channel iron mineralisation.
Rock chip sampling has indicated that channel iron mineralisation at the Central Channel Iron Deposit (CID) potentially occurs over an area of 3,500m by 500m whilst mineralisation occurs semi continuously over 4,500m by 450m at the Northern CID.
This program returned top results of 58.6% iron and 56.1% at the Central CID and up to 58.7% iron at the Northern CID.
While Pantera Minerals (ASX:PFE) remains focused on the project’s manganese mineralisation, the confirmation of channel iron mineralisation has the potential to add another revenue stream.
Channel Iron Deposits are iron-rich sedimentary stream deposits that are a significant source of iron ore in projects such as BHP and Rio’s Yandicoogina deposits and Rio’s Robe operations.
Managing director Matt Hansen said the rock chip sampling at Weelarrana has extended channel iron mineralisation identified at the Central and Northern CID.
“Our next program of works involves conducting heritage survey work and planning and permitting drill programs over both areas,” he added.
Exploration results
Follow up field mapping and rock chip sampling of the Central CID on E 52/3878 in late June has extended the area of sub-cropping channel iron mineralisation a further 300m to the southeast and 100m to the east from the previously identified extent.
Notably, sampling also identified a small 250m by 300m sub-crop of channel iron mineralisation about 2,500m to the northwest with the area between the two sub-cropping areas devoid of outcrops.
At the Northern CID on E 52/4046, sampling identified five discrete outcrops of channel iron mineralisation over a strike length of 4,500m.
The outcrops vary in dimensions from 650m by 450m to 170m by 140m, and rise to about 5m above the surrounding sand plain, while grades appear to increase towards the southeast.
Further exploration
Pantera will now conduct heritage surveys as well as plan and permit drill programs over both the Central and Northern CIDs.
Drilling is expected to begin in the fourth quarter of 2023, while the company will also continue to assess all the Weelarrana tenements for further occurrences of channel iron mineralisation as well as manganese mineralisation.
This article was developed in collaboration with Pantera 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.
