BCI Minerals says initial drilling at the Kumina iron ore deposits in Western Australia has confirmed iron ore potential.
Phase 1 drilling program of 67 holes have been completed at the Kumina A deposit with assay results received for the first 42 holes confirming the presence of significant iron ore.
Best intercepts from surface include 38 metres at 58.3% iron ore, 30 metres at 58.9% iron ore and 30 metres at 58.6% iron ore.
The Kumina tenements comprise three granted exploration licences covering an area of approximately 480 square kilometres located approximately 50km north-east of BCI’s Bungaroo South Deposit.
“BCI identified Kumina as a large, under-explored tenement package and successfully acquired it from Mineralogy in 2017,” BCI Managing Director Alwyn Vorster said.
“We are encouraged by exploration work to date, which is supporting the view that Kumina potentially hosts iron ore deposits that can increase the tonnage available to the Buckland Project and improve its development case.”
A maiden Mineral Resource estimate at the Kumina A deposit and other targets planned for second quarter 2018.
Multiple targets have been identified for exploration during 2018.
Shares in BCI Minerals (ASX: BCI) closed Tuesday unchanged at 17c.