Flinders Mines (ASX:FMS) has revealed significant high grade and...

Flinders Mines (ASX:FMS) has revealed significant high grade and near surface bedded iron mineralisation at its Pilbara Iron Ore Project in Western Australia.

Infill and extensional drilling has now been completed with assays received for a further 80 holes.

Standout intercepts included 40 metres at 60.0% iron, 30 metres at 58.9% iron, and 30 metres at 58.8% iron, and importantly, the high iron assays are enhanced by the low levels of impurities such as alumina and silica.

All of these high grade intersections are outside of the current Inferred Resource boundary, and outside existing pit designs as defined during the project Pre-Feasibility Study.

This mineralisation remains open to the south-east and west and is adjacent to targets previously identified for bedded iron in the hills surrounding the Blackjack deposit, providing support for FMS' lofty exploration targets.

Once infill drilling across the project has been completed a specialised track mounted drill rig will be utilised to undertake drilling in the hills over the next two months.

Significant results from drilling targeting new mineralisation will be reported as they are received.

Flinders is also planning to release updated resource estimates for each of the individual deposits within the Pilbara Iron Ore Project over the next two months.

Notably, Flinders already has export arrangements in place after entering into an agreement with the Balla Balla Joint Venture between Todd Minerals and Rutila Resources (ASX:RTA).

Rutila plans to provide Flinders with transportation and port handling for up to 30 million tonnes per annum of iron ore
at its proposed export facility.

The Rutila-Todd joint venture will be the exclusive transportation and export service provider to Flinders, subject to final investment decisions required prior to December 2015 by both parties, and Government approvals.