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  • Eclipse Metals Encouraged By Review Of Iron Ore Projects In NT, Queensland 0 comments
    Nov 26, 2013 12:46 AM

    Eclipse Metals (ASX: EPM) has outlined the iron ore potential of its tenements in the Northern Territory and Queensland, warranting further investigation to define their value.

    The desk top review looks to herald significant promise for Eclipse which follows historical rock chip sampling which yielded assays of up to 61.8% iron from surface.

    Notably, the Mt Tolmer prospect within its West Batchelor Iron Project in the Northern Territory may have surface DSO potential while the Moonford Iron project has near surface iron mineralisation close to rail infrastructure.

    "We are very encouraged by the excellent results from preliminary sampling over the West Batchelor and Moonford Iron Projects," director and geological consultant Rod Dale said.

    "Based on these results we are currently planning coordinated surface sampling programs to better understand the extent and nature of this iron mineralisation.

    West Batchelor

    The West Batchelor project is located about 61 kilometres south of Darwin and 174 kilometres northwest of Katherine in the Northern Territory.

    The Giants Reef Fault passes through the tenement in a northeast-southwest direction with the Burrell Creek Formation and the Depot Creek Sandstone dominating the main formations within the Exploration Licence area.

    Key Prospects are the Mt Tolmer and Table Top iron prospects, the Goodwill Tin Prospect and the Bamboo Creek tantalite Prospect.

    Mt Tolmer situated in rugged country on the southwest edge of the Tabletop Plateau with iron mineralisation consisting of dense, fine grained hematite showing concretionary structures in some part and slicken-siding in others and strongly cellular material generally composed of a mixture of hematite and limonite and usually containing a small admixture of sand grains.

    The Table Top Iron Prospect is a deposit of laterite development on part of the surface of a plateau consisting of flat-lying Upper Proterozoic quartz sandstone about 13.7 kilometres northeast of Mt Tolmer.

    This has returned between 20% and 40% iron from historical rock chips. Historical metallurgical studies conducted during the 1970s has also indicated that magnetic beneficiation of the iron mineralisation appears feasible.

    "Surface rock-chip sampling and geological mapping will be completed over the Mt Tolmer and Table Top prospect in the short term with a view to commencing more detail exploration programs once the company has secured funding and as the season permits," Dale said.

    Moonford Project

    The Moonford project, held by partially owned subsidiary Walla Walla Mines, is located about 15 kilometres northwest of Moonford, Queensland, just 13 kilometres from the Monto Township rail-line and about 133 rail kilometres from the port of Gladstone.

    There is about 18 kilometres of favourable near-surface iron bearing lithology within EPM 18596.

    There are 18 historical percussion holes intersecting limonite mineralisation below 2 metres over overburden that returned assays ranging from 30.42% to 40.29% iron.

    Dale said the work program over the Moonford Iron Project will concentrate on detail geological mapping and surface rock-chip sampling over the entire iron outcropping areas to facilitate planning of a drilling program of the mineralised zones.

    The true extent of the iron bearing areas is largely unknown with less than 7% of the Exploration Permit having been systematically explored.

    Analysis

    The desk top review looks to herald significant promise for Eclipse which follows historical rock chip sampling which yielded assays of up to 61.8% iron from surface at the West Batchelor project.

    It is early days yet, but the shallow iron mineralisation over both projects looks very worthy of follow up work programs. So ther are catalysts ahead including surface rock-chip sampling and geological mapping to be completed over the Mt Tolmer and Table Top prospect in the short term.

    While the Moonford Iron Project will focus on detailed geological mapping and surface rock-chip sampling over the entire iron outcropping areas.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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