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Fe Limited set to benefit from high-grade copper hits

Alongside Fe Limited's 20% interest, Auris Minerals Ltd  (ASX:AUR) owns 80% of the Forrest Project.
Fe Limited set to benefit from high-grade copper hits
Cape Lambert Resources (ASX:CFE) also benefits as Fe's major 55% shareholder

Fe Limited (ASX:FEL) is making the most of its 20% free-carried interest in the first phase of reverse circulation drilling at the Forrest Project in Western Australia.

First assays from the Wodger prospect returned major intersections of copper‐gold‐silver mineralisation.

These included 50 metres at 1.55% copper from 175 metres, 41 metres at 0.47 g/t gold from 177 metres and 59 metres at 5.05 g/t silver from 168 metres.

The company’s 20% interest is free-carried until a decision to mine.

Results require immediate follow-up exploration to test for a potential fresh massive sulphide source.

Sandfire similarities…

Sandfire Resources’ (ASX:SFR) DeGrussa deposit began as an oxide gold discovery which was later recognised as the residual gold cap above the massive copper sulphide mineralisation.

This is analogous with the initial exploration drilling at Wodger which returned elevated gold in the oxide zone and with increasing depth, an increase in copper oxide mineralisation.

First phase drilling at Wodger

This first phase of reverse circulation drilling at Wodger located within the Forrest Project included the completion of five holes for 999 metres.

WDRC005 intersected significant oxide copper values at the base of the oxide gold cap.

This included:

- 50 metres at 1.55% copper from 175 metres;
- 41 metres at 0.47 g/t gold from 177 metres; and 
- 59 metres at 5.05 g/t silver from 168 metres.

Mineralisation in WDRC005 consists of extensive zones of malachite and azurite (oxide copper) at the base of a residual gold cap.

The geochemistry of the copper‐gold‐silver mineralisation is consistent with VMS origin.

Assays pending

Laboratory results for holes WDRC001‐004 should be available with the next two weeks.





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