Flinders encounters high-grades at PIOP

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THE DRILL SERGEANT: Flinders Mines (ASX: FMS) has encountered high-grade and near surface hematite mineralisation during recent new drilling being undertaken at the company’s wholly-owned Pilbara iron ore project (PIOP) in the Pilbara region of Western Australia.

Infill drilling currently underway at the PIOP’s Blackjack deposit, has intersected high-grade mineralisation.

To date, 145 holes have been drilled in Blackjack as part of the current program.

Assays have now been received for 90 of these holes with 41 of them intersecting detrital iron mineralisation in excess of 60 per cent iron with low levels of silica and alumina.

 

Location of the Blackjack deposit within the broader Pilbara iron ore project (PIOP). Source: Company announcement

 

Flinders said the recent intersections are some of the highest grade iron results the company has received from the PIOP from more than 3,600 holes drilled at the project to date.

A number of the new results are also outside existing pit designs, which had been defined during the project’s Pre-Feasibility Study.

Highlights include:

HPRC0444
34 metres of 60.8 per cent iron from 22m downhole, including 16m of 65.4 per cent iron from 30m;

HPRC0446
30m of 63.2 per cent iron from 32m downhole, including 14m of 65.4 per cent iron from 38m;

HPRC1509
24m of 63.3 per cent iron from 8m downhole, including 12m of 65.3 per cent iron from 18m; and

HPRC1522
18m of 61.8 per cent iron from 8m downhole.

Flinders said a number of holes located primarily at the ends of drill lines, also intersected bedded iron mineralisation.

These include:

HPRC0458
22m at 57.9 per cent iron, 3 per cent silica, 2.9 per cent alumina, 0.12 per cent phosphorous and 10.3 per cent loss of ignition (LOI) from 2m below surface; and

HPRC0488
12m at 58.6 per cent iron, 4.8 per cent silica, 2.2 per cent alumina, 0.10 per cent phosphorous and 8.7 per cent LOI from 32m.

“This mineralisation remains open and is adjacent to targets previously identified for bedded iron mineralisation in the hills surrounding the Blackjack deposit,” Flinders said in its ASX announcement.

“The location and nature of both styles of mineralisation supports the company’s exploration targets to the south of the Blackjack resource.

“The exploration targets have not been updated to comply with the 2012 JORC Code on the basis that the information has not materially changed since it was last reported.

The potential quantity and grade is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.”

Flinders indicated it has further drilling planned over the next month to test for further high-grade mineralisation adjoining the Blackjack Resource and other targets within the PIOP.

Email: info@flindersmines.com

Website: www.flindersmines.com