Iron Ore
Moorarie
Uranium Equities (‘UEQ’) has identified a strong target for hematite iron ore within the Northern Yilgarn Craton of
Located 120 km northwest of Meekatharra, the Moorarie Project area comprises 5 Exploration Licences and applications held in a joint venture with Independence Group NL. UEQ, as operator, is earning 60% interest by spending $1.0m within the first 4 years and may earn an additional 10% by spending $1.0m within a further 2 years.
The Moorarie tenements cover magnetic trends related to Banded Iron Formations (‘BIF’) in two major trends which form splays off the regionally significant Cargarah Shear Zone. These trends are geologically similar to that which host the recently developed Jack Hills Iron Ore Deposit some 20-30 km to the West. (
Outcrop is sparse within the tenement areas, but reconnaissance mapping and rock chip sampling has confirmed the presence of an extensive, sparsely outcropping, BIF sequence and has located anomalous iron ore values up to 46% Fe.
Detailed airborne magnetic surveys have identified the regional BIF trends and reconnaissance gravity surveys have identified a significant residual gravity anomaly (+8 mgal). The gravity anomaly is co-incident with a demagnetised zone within the South Western trend, a potential indicator of hematite ore. Other interpreted demagnetised zones are present, but not yet covered by gravity surveys.
A significant uranium radiometric anomaly has also been identified. Analysis of the airborne data together with reconnaissance sampling results suggests that this anomaly may be derived from a deep seated basement source and not surficial calcrete, as is commonly the case in the Yilgarn Craton.
Figure 1: Moorarie tenements showing magnetic features and gravity and radiometric anomalies
Modeling of the gravity and magnetic data has inferred an exploration target comprising a 2km x 300m dense, non-magnetic body which could equate to over 100 m t of hematite at shallow depth.
Figure 2: Gravity contours overlying magnetic trends and showing the location of the potential hematite target.
Drill testing of the anomaly is planned for August 2008 as soon as the appropriate heritage clearances are obtained from the Traditional Owners.
Other WA Proje
Uranium exploration is the focus of other exploration projects in
Three Springs
At Three Springs Southern Uranium Ltd is earning a 50% equity by funding the first $458,000 in four ELs within the Three Springs area south east of Geraldton. The land package covers the western margin of the Yilgarn Craton where uranium-rich gneisses may act as sources of uranium for transport to potential sandstone, calcrete host rocks and other structures. The project comprises four tenements over an area of 1,374Km2.
Previous exploration in the 1970s investigated the water bores and springs within the project area after a radiometric response was reported when testing groundwater with a hand-held scintillometer. Subsequent analyses returned values of 28 to 360 ppb uranium against a background of approximately 1ppb uranium.
The Rudall River and
[1] Ref: Murchison Metals Ltd Jack Hills DSO Resource Update 8th June 2008 http://www.mml.net.au/images/murchison---yerae.pdf