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Coziron Resources pinpoints broad gold anomaly in Pilbara  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 07/11/2012

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(MENAFN - ProactiveInvestors - Australia) Coziron Resources (ASX: CZR) has uncovered a 2 kilometre long and 1 kilometre wide gold anomaly with a peak value of 1.75 grams per tonne (g/t) gold from soil sampling at the Cobblers Prospect, part of the Yarraloola Iron Ore Project in the West Pilbara, Western Australia.

The soil-based gold anomaly overlies a sequence of pillow-basalts within more massive units of the Fortescue Basalts on the eastern part of the Yarraloola Project area.

Continued assaying of reverse circulation drill samples from the May-June program, which intersected graphitic and sulphidic shales, indicates widespread gold and base metal anomalism.


Iron ore focus

Coziron recently acquired a 1450 square kilometre tenement package that comprises seven exploration leases and two prospecting licences located 150 kilometres southwest of Karratha.

The tenements cover part of the iron-ore rich Hamersley Basin, as well as part of the gold and base-metal bearing Ashburton Trough.

The tenements are located adjacent to Rio Tinto's (ASX: RIO) Mesa A and Mesa J iron-ore mines, in a region that is highly prospective for iron ore mineralisation.

Exploration by Coziron is focused on assessing haematite and magnetite mineralisation in Hamersley Group sediments " Marra Mamba and Brockman iron formations " which outcrop over a strike length of about 50 kilometres, as well as younger channel-iron deposits.

In addition to the iron-ore, ongoing exploration has identified prospectivity for gold, copper and associated base metals.

During September, Coziron completed a three week field program including mapping and rock chip sampling of different units identified by magnetic responses in the Marra Mamba, Brockman and Boolgeeda iron formations.

The company also undertook reconnaissance soil sampling and mapping over a historical gold occurrence, and infill and extensional sampling of graphitic and sulphidic shales with anomalous gold and associated pathfinder elements from the reverse circulation drilling program completed in June.

 






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