Carpentaria Exploration has announced a significant magnetite-iron discovery which it says has the potential to be the largest iron project in New South Wales.
The company said that drilling at the Hawsons Iron Project near Broken Hill has yielded encouraging Davis Tube Recovery (DTR) concentrate chemistry drill samples, with an average of 70.1% iron (Fe) with very low deleterious elements.
According to Carpentaria, the drilling results and magnetic modelling have indicated a magnetite exploration target from one of the five identified magnetic units of 100 to 115 million tonnes at 20 to 21% DTR.
These initial drilling results give the company great confidence in future drilling operations, Carpentaria chairman Nick Sheard said.
“The Davis Tube Recovery results are very encouraging because the initial drilling has tested only one magnetic unit out of a total of five within the ‘core anomaly’,” he said.
“Should similar material be present in the other four units, this anomaly will have very large magnetite mineralisation tonnage potential.
“Data within the Hawsons Project area highlights several other untested magnetic features of similar size to the core anomaly and these provide scope to explore for additional large tonnage and potentially increased grade magnetite mineralised systems.”