Drilling continues at Peak Hill where Aurium has the enticing DSO target of 10Mt to 55Mt at 55% to 58% iron. A dozen holes have now been completed in the latest program, with pre-collaring having commenced for diamond drilling.
You need the Flash Player version 8.0.0.0 or higher and a JavaScript enabled browser to view this content
Proactiveinvestors Australia
GLOBAL NAVIGATION
Aurium Resources
www.aurium.com.au/Aurium Resources (ASX: AGU) is targeting iron ore through the Peak Hill joint venture with Padbury mining (ASX: PDY).
The Peak Hill joint venture is located in the Mid-West region of Western Australia, and hosts an Inferred JORC Resource of 850 million tonnes at 27.3% iron.
In-Depth Aurium Resources Articles
Archive-
-
07/09/2011
Aurium Resources eyes iron ore JORC Resource boost in new drilling at Peak Hill
With the JORC Resource of 850 million tonnes at 27.3% iron defined from just 4 kilometres of a 10 kilometre strike length, the new diamond and reverse circulation drilling campaign at Peak Hill is one to keep an eye on.
-
29/03/2011
Aurium Resources defines a JORC Resource at Peak Hill
With only 40% of the 10 kilometre strike length tested at Telecom Hill and today's milestone 850Mt at 27.3% iron resource larger than expected, Aurium Resources' valuation would appear to have upside relative to peers based on exploration target.
Aurium Resources News
Archive19/03/12
Aurium Resources increases direct shipping ore iron ore deposits at Peak Hill21/02/12
Aurium Resources works towards next stage of development at Peak Hill Iron project20/02/12
Aurium Resources: drills 29m at 62.8% iron and delivers DSO mineralisation at Telecom Hill16/02/12
Aurium Resources: completion of diamond drilling a step toward Peak Hill Pre-Feasibility Study17/01/12
Aurium Resources restarts drilling at Peak Hill
Presentations & Company Media
No documents available.
Related Research & Media
No documents available.
Company Statement:
850MT Maiden Inferred Resource Aurium Resources (asx:AGU) IS very pleased to announce a maiden JORC Inferred Resource for the Telecom Hill Deposit at their Peak Hill Iron Project Joint Venture (“JV” or “Project”). The Maiden Mineral Resource comprises 850Mt at 27.3% Fe, 46.2% SiO2, 3.4% Al2O3, 0.14% P and 6.52% LOI hosted by magnetite‐bearing banded iron formation (BIF) units.
Initial Davis Tube Recovery (DTR) test work shows the magnetite ‐bearing BIFs can produce high‐grade concentrates :Read more http://www.asx.com.au/asxpdf/20110329/pdf/41xq2sy79l45fx.pdf
Exploration target is for 3.5 to 5 Bt of Magnatite at somewhere between 25-35% and for +50mt of Hematite/DSO
Current Operations:
Projects Overview
The Peak Hill Joint Venture (the JV) has been formed between Aurium Resources Ltd and Padbury Mining Ltd (the JV Partners) to explore the highly prospective Robinson Range area of the Padbury-Bryah Basin in Western Australia for iron ore resources and other commodities. The project comprises a large group of tenements (see Figure 1) covering a substantial 60km strike length of the Robinson Range Formation banded iron formation(BIF) and granular iron formation (GIF) stratigraphy.
Initial work on the project has delineated areas with potential for both hematite – goethite direct shipping ore (DSO) and magnetite beneficiation feed ore (BFO) deposits. Additionally the tenements contain significant potential for gold and base metal mineralisation in the areas adjacent to the Robinson Range.
The JV partners in the Peak Hill joint venture are committed to increasing shareholder value by actively exploring and delineating large iron ore resources. The three year vision is to delineate a magnetite resource large enough to underpin a sustainable and profitable mining operation for a 30 year mine life, and develop a project pipeline of additional projects that add value to the company.
Peak Hill Joint Venture
Aurium and its Peak Hill joint venture partner Padbury Mining Ltd resolved on the 20th February 2009 to vary the terms of the Peak Hill Joint Venture as follows:
• The joint venture area has been extended to also include 4 exploration licences and 2 applications for exploration licences at Mt Padbury near Peak Hill covering a total of approximately 871 sq kms.
• The joint venture has been extended to exploring and exploiting all minerals and commodities (excepting manganese) instead of being limited to gold and uranium.
• The participating interests of the companies shall now be 70%Padbury and 30% Aurium Resources.
• The term of the joint venture has been extended to 31 March 2016.
• Aurium has met all its obligations as per the variation.
• Aurium issued 35,000,000 shares to Padbury in consideration of the variation to the joint venture.
These new Peak Hill Joint Venture arrangements give both companies the opportunity to exploit this highly prospective area and the focus is the directly on the Iron Ore prospectivity.
Management
Directors
Eddy Saunders (Non Executive Chairman)
Terry Quinn (Managing Director)
Brenton Lewis (Non Executive Director)
Major Shareholders
Top 20 shareholders currently hold 47% of the 302m shares on issue.
Contact Information
AURIUM RESOURCES LTD
ASX CODE (AGU)
15 Colin Street
West Perth WA 6005
Tel : +61 (0)8 6460 0250
Fax : +61 (0)8 6460 0254
W : www.aurium.com.au
E: info@aurium.com.au
Corporate Information
302m shares on issue
108m options ex @3.5c and expiry sept 2012
top 20 hold 47% of shares on issue
+$2.6m at bank
