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Additional Information
Market:ASX
Sector:General Mining
EPIC:III
Latest Price: 0.00  (0.00%)
52-week High:0.10
52-week Low:0.07
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Icon Resources

Icon Resources (ASX: III) is a diversified metals explorer focussed on Eastern Australia. It has advanced projects in gold and tin in NSW. It also holds strategic areas in northwest Qld prospective for zinc, copper-gold and nickel with gold and copper prospects in NSW and Qld. The company is currently concentrating on its flagship project, the old Mt Carbine tungsten mine in north Queensland.

 

 

Icon Resources' tungsten target at Mt Carbine increases to 55 million tonnes

Friday, July 03, 2009
Icon Resources' tungsten target at Mt Carbine increases to 55 million tonnes

Investors in tungsten developer Icon Resources (ASX: III) have received a major boost with resource target at Mt Carbine prospect increasing to 55 million tonnes at 0.07- 0.09% WO3.

Previously announced Inferred Resource at Mt Carbine Prospect was 9.6Mt at an estimated grade of 0.2% WO3.

The reason for the increase? Independent consultant Geostat has revised the geological model for the tungsten mineralisation below the open cut, using an existing core library of 8,222m from 39 drillholes.

This target tonnage excludes the exploration potential in the hill abutting the north wall of the pit which contains numerous historical workings and identified mineralised zones. The company will focus on this area to double the target tonnage.

By all measures, Mt Carbine is developing into a world class resource and the scoping study underway will now incorporate the potential for block caving these new mineralised zones below the pit as well as extending the open cut.

Interestingly, Icon is in discussions with a number of parties with tungsten projects in North Queensland as well as potential international partners, providing upside in news pipeline for investors.

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