Drilling to commence on Eyre Peninsula
Posted: 20 June 2007
South Australian based iron ore, uranium and base metal exploration company, Lincoln Minerals Limited has received SA Government approval to commence a major aircore and reverse circulation (RC) drilling program on southern Eyre Peninsula, South Australia.
The approval is to drill direct shipping hematite and hematite banded iron formation (BIF) targets on the Company’s 100 per cent owned Gum Flat tenement (EL3422) near Port Lincoln.
Detailed processing and interpretation of a low-level high-resolution airborne magnetic survey has identified eight hematite targets including zones of reduced magnetic amplitude, fault zones with clear evidence of magnetite destruction and favourable structural settings including fold hinges and complex fault patterns.
The Middleback Range on northeastern Eyre Peninsula is one of Australia’s oldest iron ore mining districts and hematite iron ore has been mined continuously there for over 100 years.
Magnetite and hematite BIFs of the Middleback Range extend throughout eastern Eyre Peninsula down to the Gum Flat tenement.
In addition to the Gum Flat iron ore project, Lincoln Minerals will also drill uranium and base metal targets on its Cockabidnie project on central Eyre Peninsula where there are surface samples containing up to 1 per cent zinc and up to 750ppm (0.075 per cent) uranium not previously tested by drilling.
The inaugural program of 10,000m of aircore and RC drilling is planned to commence in early July subject to completion of Aboriginal heritage and other clearances.
Posted by Richard Price, Editor, EnergyME.com
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