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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	RLC
Latest Price:	0.11 (0.00%)
52-week High:	0.15
52-week Low:	0.07
Market Cap:	5.35M

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Reedy Lagoon

Reedy Lagoon (ASX: RLC) has projects targeting iron in Western Australia and uranium in Western Australia and the Northern Territory. RLC also has Copper-Uranium-Gold exploration on the Gawler Craton, South Australia.

RLC is exploring for iron-ore at the Bullamine Project in WA, uranium at the Tanami Project in the NT and at the Isabella, Winning Hill and Genoa Projects in WA. The company is also searching for uranium and copper on the Gawler Craton in SA.

Reedy Lagoon encouraged by iron assays at Bullamine, WA

Monday, March 09, 2009

Reedy Lagoon (ASX:RLC) has advised that assay results from selected samples of drill cuttings from the RC drilling conducted at the Cleansweep target in November 2008 show iron content of about 30% with low impurities.

The drilling, reported on 11 December 2008, comprised 13 RC holes each to nominal 60 metres down-hole depth for total 803 metres. All holes were drilled dipping 60 degrees towards 245 degrees azimuth. Outcropping exposures of the target banded iron formations (“BIFs”) generally indicated a steep easterly dip, however modelling of magnetic data after completion of the drilling indicated a steep westerly dip.

Cuttings from selected one metre intervals were submitted for assay. XRF analysis of 157 of these samples detected grades of 20% iron or higher and low phosphorous.

The Company believes the above assay results are sufficiently encouraging to undertake additional sampling to determine the parameters and characteristics of iron concentrates that can be produced.

The Bullamine project is located 70 kilometres northeast of Perth. Exploration is being conducted for near surface iron mineralisation to form the basis for a low cost shallow open cut mining operation for magnetite. Numerous targets, with a combined strike length of 58 kilometres, have been identified within the project area. Banded iron formations, comprised of magnetite and silica layers, can be processed by crushing and magnetic separation, to produce a saleable iron concentrate.

A number of parameters, including presence or otherwise of impurities, volume, grade, depth, crush and liberation characteristics of the mineralisation impact on the cost and therefore viability of producing a concentrate from magnetite mineralisation. The short distance, 90 kilometres, to bulk cargo facilities at Fremantle Ports’ Kwinana facility south of Perth and existing rail link are significant attributes of the project.

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