Pluton Resources (ASX: PLV) has proven the presence and worth of very high grade and quality DSO iron ore with current drill hole results grading 69.1% iron and with low contaminants at its main iron ore operation at Cockatoo Island.
The Seawall Hematite also assayed very low impurity values for SiO2, Al2O3, P and S, a product that steel mills would find extremely useful.
Drilling the Stage 5 Expansion of its Cockatoo Island operations in Western Australia saw the maiden hole intersecting 40.61 metres at 69.1% iron.
The diamond core has been logged, assayed and will be used to provide additional geological, geotechnical, metallurgical and technical data.
This data will be used to further examine the seawall operations that were considered in the Concept Study.
Pluton has completed the study in late August 2013 to assess the potential to expand the existing Stage 1 to Stage 3 seawall further to the south by about 100 metres to access additional high grade iron ore mineralisation from the Seawall Hematite which is currently being mined, crushed and exported.
A number of seawall construction methods and configurations were examined in the Concept Study.
Based on the positive outcomes of the Concept Study, a resource definition diamond drilling program comprising an initial five drill holes was designed to test the along strike and down dip extensions to the Seawall Hematite in Stages 2 and 3.
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