Exalt Resources encouraged by Brooklyn drilling results

THE DRILL SERGEANT: Exalt Resources (ASX: ERD) has received results from drilling carried out in December 2013 at the company’s Brooklyn iron project in South Australia.

 

Prospect Locations within EL7945 Mineral Hill South. Source: Company announcement

 

The drilling consisted of 11 holes, nine of which the company said had returned consistently high iron grades.

Exalt claims the results have confirmed iron mineralisation extends for at least 140m by 100m and is between 88m and 127m deep.

Highlights include:

136m at 61.4 per cent calcium iron and manganese (CaFe+Mn) from 14m;

72m at 62.1 per cent CaFe+Mn from surface; and

70m at 62.6 per cent CaFe+Mn from 10m.

Exalt has interpreted the iron mineralisation to be goethite replacement of a limestone, which it believes could possibly represent a previously unrecognised deposit style.

The company explained in its ASX announcement that it would be carrying out further work to evaluate the mineralisation in order to determine if a potential niche DSO goethite iron plus manganese product could be economically mined and sold.

Email: info@exaltresources.com.au

Website: www.exaltresources.com.au