Western Creek iron ore Mineral Resource increased by 38% through addition of mineralisation on newly acquired tenement.
• New estimate totals 40.7 million tonnes of near surface iron ore, located only 15 km from railway and train loading facilities at Newman.
• Drilling is in progress to further increase iron ore resources through testing of open ended mineralised zones, and additional outcropping Marra Mamba Formation on Giralia’s expanded 100% owned Western Creek project tenements.
The Directors of Giralia Resources NL ("Giralia") are very pleased to announce an updated and increased Inferred Mineral Resource for the Company’s 100% owned Western Creek project, located 15 kilometres west of the town of Newman in the Pilbara Region of Western Australia. Giralia has previously (11 July 2008) announced an initial Inferred Mineral Resource estimate of 29.4 million tonnes @ 57.6% Fe for Marra Mamba iron ore mineralisation at Western Creek, directly adjoining BHP Billiton Limited's Marra Mamba Formation hosted Silver Knight iron ore deposit.
This current estimate incorporates drilling data from newly acquired tenements, which host extensions to the Western Creek deposit, resulting in an increase of 11.1 million tonnes to the North Marra Mamba Zones, and providing a 38% increase in total tonnage to 40.7 million tonnes.
GIR Price at posting:
39.0¢ Sentiment: LT Buy Disclosure: Held