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Mindax recommences drilling at Mt Forrest Iron Project

Perth-based diversified explorer Mindax (ASX: MDX) has kicked off drilling today, following the Christmas shutdown at the Mt Forrest Iron Project in the Richardson Ranges of Western Australia.

Six more holes will be drilled, adding to the eight holes drilled in December 2009, which revealed high grade (63.4% Fe) intersections.

Mt Forrest is located 150 km northeast of Menzies in Western Australia and the railway line which connects with the Port of Esperance.

The project comprises a block of seven mining leases covering 50 sq km and over 17 km of strike, with the leases held by Mindax's 100 percent-owned YilgIron.

Exploration priority is being given to identifying direct shipping hematite ores, with quantification of the extensive magnetite ore potential to be undertaken in the future.

December 2009 reconnaissance drilling bears out the modelling generated from systematic detailed surface mapping and rock chip sampling.

Prospective ironstones shown by surface mapping are confirmed by intersections at depths up to 50 metres below the surface, which confirms the presence of high-grade haematites. They include 5m @ 63.4% Fe from 31m in MFC0003, 4m @ 62.9% Fe from 13m in MFC0007 and 3m @ 61.7% Fe from 7m in MFC0001.

The Mt Forrest Project also includes the Paradise Bore indicated/inferred oxide resource of 36,000 oz gold

Disclosure: I do not hold a position