Munderra Project
EPM 15481 (Munderra) and EPM 9892 (Black Creek)
ML 3945 (Paddy) and ML 20428 (Jessie)
News
InterMet has released a conceptual target of 10Mt of DSIO (Direct Shipping Ore) for the Munderra Iron Ore Project. Full details of the target are available in the June 30, 2008 Press Release.
Read the June 30 Munderra Conceptual Target Press Release (1Mb PDF).
Background
The Munderra Project is located approximately 15 km west of the mining centre of Mount Garnet, 150 km southwest of Cairns, Queensland.
The Munderra Project consists of Exploration Permit Minerals (EPM) 15481 "Munderra" and 9892 "Black Creek", Mining Lease (ML) 3945 "Paddy" and Mining Lease Application 20428 "Jessie".
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Location map for the Munderra project showing EPM 15481 "Munderra" and EPM 9892 "Black Creek", ML 3945 "Paddy" and ML Application 20428 "Jessie".
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Reconnaissance mapping and sampling aimed at testing the extent of the outcropping iron mineralisation in and around the Paddy Lease has defined three main magnetite lenses mapped for up to 500m along strike with each lens up to 50m in width.
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Regional aeromagnetic data over the Munderra EPM showing location of prospective areas along the contact between the granite and sediments.
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Paddy
The Paddy ML (3945) comprises a magnetite skarn and initial sampling has recorded Fe values up to 69.86% Fe. The iron at Paddy crops out as a low hill where the main pit is located. Surrounding the hill are two parallel zones of low outcropping iron trending to the west. The main pit shows a profile through the iron zone. At the surface the iron is slightly weathered with the appearance of hematite along fractures but at approximately 1m depth, the iron becomes massive magnetite.
Rock chip sampling at the Paddy prospect produced an average Fe grade of 65.7% Fe and three samples from Black Creek reported between 38.3 – 47.5% Fe (though the iron was highly weathered and is expected to be similar at depth to the iron sampled at Paddy).
A ground magnetic survey conducted by InterMet over the Paddy area showed good correlation with the rock chip results and a large magnetic high in the vicinity of the old pit and further correlates areas of high magnetic intensity with the presence of magnetitie ore.
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Recent ground magnetic survey carried-out over the Paddy prospect. Symbols indicate sample site with assay results for Iron (values in % Fe).
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Two samples of iron from an outcrop just west of the Paddy pit (assaying 68.3% and 66.1% Fe respectively) were found to be located within a magnetic low zone which may suggest some possible magnetite destruction (hematite production) or magnetic reversal.
Data collected in a subsequent ground magnetic survey over the Black Creek EPM shows two prominent magnetic features within the central zone of the permit and suggests possible continuity with the iron observed in the Paddy area.
The geology of Black Creek is very similar to the Paddy area and magnetic features located within the prominent zone of iron alteration (evident on the aerial photography and by iron-rich termite mounds) may represent further magnetite bodies.
InterMet believes the magnetite bodies in the Paddy area possibly represent small (up to 20Mt) but very high grade deposits that should only require relatively simple processing and thus represent direct shipping ore (DSO).
Jessie
The Jessie ML (20428) contains a copper rich magnetite skarn with the potential for porphyry style copper mineralisation within an adjacent granodiorite. The mineralisation is exposed in a low hill approximately 50m above the surrounding plain. The summit of the hill is capped by a 10m thick layer of iron which grades >60% Fe.
InterMet has inspected and sampled rocks at the Jessie Lease recovering copper values ranging from 0.1% Cu within the iron rich unit to 20.9% Cu within the copper zone of the deposit.
Rock chip results provided by the Vendors to InterMet show copper values are extremely high up to 36.7% Cu. The surface extent of the copper zone is approximately 170m in length by 40m wide and up to 30m thick at the summit of the hill.
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A Sample from the Jessie prospect (43628) which returned assay results of 20.9% Cu and 0.43 g/t Au.
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Further Information
The following press releases provide more information on the latest news and developments for the Munderra Project.
Further information can be found by checking the News Section of the InterMet website.
Link to the InterMet Resources Ltd News Section.
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