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Fe Limited's joint venture partner reveals next exploration steps near DeGrussa

Sandfire Resources is involved in a farm-in with Auris Minerals and Fe Limited.
four puzzle pieces each held by four different hands
Fe has near term news flow

Fe Limited (ASX:FEL) is set to increase news flow from one of Australia's most successful exploration post codes, the Bryah Basin region of Western Australia.

Sandfire Resources NL (ASX:SFR) is involved in a farm-in with Auris Minerals Ltd (ASX:AUR) and Fe at the Morck’s Well Project, located just 22 kilometres from the DeGrussa Copper Mine in Western Australia.

Sandfire has now commenced a reverse circulation drilling program at the project, while air-core drilling will remain ongoing.

Sandire's CEO Karl Simich said: "It’s very early days in terms of the exploration of what is essentially a new and completely untested VMS horizon at Morck’s Well.

"Our goal is to establish the potential for meaningful accumulations of massive sulphide mineralisation as quickly as we can."

The most effective way to do this is to use down-hole geophysics, which has the potential to identify conductive accumulations of sulphides.

Drilling plan

Reverse circulation drilling will provide further geological context and another deep platform for DHEM surveying.

An additional 59 air-core holes have been completed, with data used to inform the interpretation of the prospective sequence and provide first-pass geochemical information to aid targeting.

This will then be followed by additional reverse circulation and diamond drilling as a priority once all relevant permitting and approvals have been received.

Joint venture structure

Sandfire may earn a 70% interest in Morck’s from the definition of at least 50,000 tonnes of copper contained in a declared JORC Resource on which it completes a Feasibility Study.

Fe's strategy in the Bryah Basin

Fe has interests in several highly prospective projects in the Bryah Basin with additional joint venture partners including Alchemy Resources Ltd (ASX:ALY), Independence Group NL (ASX:IGO), Westgold Resources Ltd (ASX:WGX) and Billabong Gold Pty Ltd.

These are all free-carried for Fe with no contributing responsibilities, until a decision to mine.

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