Kangaroo Metals confirms Mt Ruby iron ore extension plan
September 19th, 2008 | by mantrionline |ABC News reported that Kangaroo Metals Limited has identified further north and south extensions to its Mt Ruby magnetite deposit. Close spaced geophysical data over KML tenement EPM14880 collected by KML Geoscience has been fully processed and followed up by field investigations of the significant features directly around Mt Ruby.
Samples of magnetite float were identified overlying the magnetic highs that appear to be extensions of the intense Mt Ruby magnetic signature. Results from previous float sample analyses tested through ALS in Townsville show that Fe content is in excess of 68%. The combination of geophysical and surface samples suggests that the magnetite body centered on Mt Ruby may extend over 1 kilometers north and south. Although the width of the body has not been determined along its entire length, magnetite outcrops over a width greater than 80 meters at Mt Ruby itself.
Exploration at Mt Ruby conducted by other parties determined that magnetite extended to depths greater than 60 meters as drilling did not penetrate the base of iron mineralization.
Additional magnetic anomalies also identified in the geophysical survey have yet to be fully rationalized and further field investigations are planned. Diamond drilling of the extensions to Mt Ruby within the anomaly on KML tenement EPM14880 are planned to commence before year’s end to determine the full dimensions of magnetite mineralization.
