THE BOURSE WHISPERER: Burley Minerals (ASX: BUR) has applied for two exploration licences in the Hamersley Iron Ore Province of Western Australia.
The first of the two, the Broad Flat Well ELA covers outcropping Channel Iron Deposit (CID) mineralisation, while the second, the Hardey West ELA contains prospective stratigraphy for Bedded Iron Deposit (BID) mineralisation and is also prospective for base metal mineralisation.
Exploration Licence application 47/4580 (Broad Flat Well) is located 116 kilometres east of Pannawonica and 110km south-east of Karratha along the northern margin of the Hamersley Basin.
Exploration Licence application E47/4579 (Hardey West) covers approximately 470 hectares, located some 70km north-west of Paraburdoo and 70km westsouth-west of Tom Price.
Both applications are close to important infrastructure, such as main roads, townsites and port facilities and were lodged as part of Burley’s ongoing project generation strategy of developing a pipeline of projects by reviewing and acquiring projects that have the potential for early resource definition and development.
“The new exploration license applications in the world’s premier iron ore province demonstrates the company’s strategy of developing current resources and bringing in new value adding projects at various stages of exploration and development with the ultimate aim of compiling a portfolio of projects with demonstrable potential to add to the current resource base,” Burley Minerals managing director Gary Powell said in the company’s ASX announcement.
“These Hamersley exploration applications compliment our lead Yerecoin Iron and nickel-copper-PGE project where Burley is actively exploring and conducting a preliminary feasibility study.”
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