Fe Limited (ASX:FEL) (FRA:B4T) will investigate the potential for intrusion-related shear-hosted gold at its Pippingarra tenements along shear from the recent gold discoveries of De Grey Mining Limited (ASX:DEG) (OTCMKTS: DGMLF) which have drawn global focus to the Pilbara region of WA.
Suspected sheared mafic intrusions have been identified at Pippingarra with this area of interest directly along shear to the northeast of De Greys recent discoveries including Brierly, Hemi and others.
FELs tenement has a similar geological environment to that hosting the Hemi project which hosts in excess of 2.2 million ounces and the company will immediately begin exploration.
“Most exciting area for gold exploration”[hhmc]
FEL chairman Tony Sage said: “Although the main focus of the company is getting our two near-term iron ore deposits into production, we should not pass up the opportunity to investigate the gold potential of these tenements.
"Its the most exciting area for gold exploration in Australia at the moment so work will start immediately.”
With a strong iron ore market and encouraging future prospects, along with high gold prices, FEL is well-placed to progress work in both sectors simultaneously.
Optimistic about prospectivity[hhmc]
Based on recent gold discoveries in the region and along trend in similarly sheared intrusion-related geology, the company is optimistic about the gold prospectivity and intends to initiate detailed field mapping and exploration activities as soon as possible.
The Pippingarra tenements are approximately 38 kilometres southeast of Port Hedland.
A recent review of government geological and geophysical information resulted in the identification of suspected mafic intrusions proximal to the district-scale Indee Fault which tracks directly through the centre of the tenement.
The Indee Fault continues southwest into the De Grey tenure containing the recRead More – Source