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Market: ASX
Sector: General Mining
Epic: ZNC
News: Latest news
Web Site: Zinc Co Australia
Other Articles: 19-11-200929-10-2009

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Zinc Co Australia

Zinc Co Australia

Zinc Co listed on the Australian Securities Exchange (ASX) in May 2007 (ASX Code ZNC) with five projects in Western Australia. All of the projects have significant drill intercepts of zinc mineralisation at relatively shallow depth. Western Australia has a history of base metal production from mines in the Kimberley region (Pillara, Cadjebut, Goongewa) and the Yilgarn (Golden Grove, Teutonic Bore, Jaguar).
Thursday, November 19, 2009

Zinc Co reveals more results from Mount Alexander iron ore project in WA

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Zinc Co Australia (ASX: ZNC) has released further positive results from the company’s Mount Alexander iron ore project near the Port of Onslow in the West Pilbara region of Western Australia.

Further rock chip results from the project confirm extent of mineralisation, with an additional 324 surface rock chip assays received.

The average values from all 580 samples to date are 34.0% Fe 48.0% SiO2 0.6% Al2O3 0.1% P 0.0% S.

The sampling shows consistent iron grade and low penalty element content over the 6.5 kilometre of outcrop of the Mount Alexander BIF package, while sampling across strike showed the same consistency over widths up to 400 metres.

News of the results saw the share price of Zinc Co increase 4.3% to 12c.

Zinc co-chairman Gary Comb said the rock chip sampling program had demonstrated the consistent iron grade and low penalty element content over the 6.5 kilometre outcropping section of the Mount Alexander banded iron formation.

"Sampling across strike has shown the same consistency in widths up to 400 metres," Mr Comb said.

"This increases our confidence in that the project has potential for very large tonnages of magnetite iron ore.

"Permitting for drilling to confirm this potential is well advance, with an aboriginal heritage survey scheduled in around three weeks time."

The project is located near the port of Onslow, 260 kilometres south west of Karratha.

In October, the company announced the discovery of a 9.8 km long zone of banded iron formation (BIF) with widths up to 560 metres and reported 265 analyses of BIF rocks.

 

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