Friday, 24 Jun 2011
Athena Resources has intersected high grade magnetite from the first phase of reverse circulation and diamond drilling at its highly prospective Byro Iron Ore Project supporting the FE1 Ore Model.
Intersections from the infill drilling for an Inferred Resource at the FE1 prospect, within the project in the Mid-West region of Western Australia, include 84 metres magnetite from 72 metres down hole from diamond core.
RC chip highlights include:
1. 80 metres magnetite from 98 metres down hole
2. 72 metres magnetite from 106 metres down hole
3. 50 metres magnetite from 130 metres down hole
The FE1 Ore Model now covers an area of over 164,000 square metres. The company said feed Assay and Davis Tube test work by Amdel and further grind optimization above 109 microns is underway.
The Byro Iron Ore Project is strategically located 100 kilometres west of the proposed Midwest Iron Ore Railway which is planned to link existing and future iron ore projects in the Mid-West Region to the proposed Oakajee deep water bulk shipping port north of Geraldton.
The 2,893 metre drilling program comprises of 17 RC drill holes and 1 PQ Diamond core hole. Drilling at FE1 now totals 28 RC holes and 1 PQ/NQ diamond core hole. Average drill collar spacing at FE1 are now inside a 100 meters by 100 meter grid advancing the project with a high level of confidence.
Readings are of similar high value to last season’s drilling at FE1. Average grain size is coarse, up to 1.5mm also similar to previous samples from last year. Ore intersected is being tested as part of the beneficiation and metallurgical test work that will form part of the scoping study for the project.
All results will be passed on to AMC Consultants for Inferred Resource Assessment.
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