Reported that magnetic concentrates of over 50% iron were readily achieved with preliminary standard Davis Tube tests. During the quarter, results were received for tests completed on bulked samples containing 20 to 40% iron from Zone 3 in MNRC42 and Zone 5 in MNRC38. Hole MNRC0038 intersected 13m @ 34.1% Fe and 0.02% V2O5 from 140m.
July 10, 2008
Two areas containing long intersections of magnetite-rich gabbro have been located
June 30, 2008
Drilling of 40 holes for over 7,000 metres has identified magnetite with intersections of up to 72 metres true width at 34.2% Fe.
Initial testing of the extent of vanadium bearing magnetite in the Canegrass area in late 2007 included
extensive rock chip sampling and RC drilling (16 holes for 1,355 m) to test targets selected using broadspaced
airborne magnetic survey information.
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