Mt Webber comes up trumps for Giralia Wednesday, 26 August...

Mt Webber comes up trumps for Giralia

Wednesday, 26 August 2009

GIRALIA Resources has reported best intersections to date from its initial drilling program at the Mt Webber iron ore prospect in Western Australia’s Pilbara.

Assay results received for the final five holes of the program on the main southern hill at the project include 68m at 60.9% iron, 0.7% aluminium oxide from surface, 38m at 58.3% iron, 0.6% aluminium oxide, 64m at 55.6% iron at 1.5% aluminium oxide from surface including 30m at 60.1% iron, 1% aluminium oxide.

“The outstanding results received from this initial drilling program at Mt Webber, with every hole drilled returning significant haematite mineralisation, is a fantastic result for Giralia shareholders and a credit to the company’s small dedicated technical team,” Giralia chairman Graham Riley said.

“This discovery, with its thick ore zones and low alumina, covers only a portion of the potential iron ore mineralisation in the area, and we are confident of further discoveries.”

Webber said the deposit was close to surface with minimal requirement for waste removal and was also close to Port Hedland and transport infrastructure.

Giralia will now focus on completing an initial resource estimate and undertake a scoping study.

The deposit directly adjoins Atlas Iron’s Mt Webber prospect, which has a resource of 32.62 million tonnes grading 57.3% iron.

Giralia holds a 75% interest in the Daltons JV, with Haoma Mining holding the remaining stake, as well as retaining the rights to gold-silver and tin-tantalum mineralisation.