Iron confirmed at Mt Garnet site
EXPLORATION company InterMet Resources says magnetic surveys have confirmed earlier sampling results of a significant iron ore body on a prospect near Mt Garnet.
The ground survey of the Paddy lease, 15km west of Mt Garnet, reported an iron mineralisation zone 1km long and 15km wide.
In November InterMet, which has set up an office at Mareeba, reported sampling had confirmed high-grade iron from surface outcrops.
This week, the South Australian company's managing director Gary Ferris said the magnetic survey results "show we may have a significant ore body".
Mr Ferris said the survey would be used to pinpoint drill locations which will test the thickness of the magnetite deposit at the Paddy prospect as well as its Jessie lease, about 10km further northwest, where copper mineralisation had been detected.
It plans also to extend the ground magnetic survey to fully assess the extent of the Paddy deposit.
The company had hoped to drill in January and February but wet weather and the shortage of drilling rigs because of heavy demand had delayed this until March.
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