Strategic Minerals plc "Iron Glen Update"
By Strategic Minerals Plc, PRNEWednesday, June 29, 2011
TOWNSVILLE, Australia, June 30, 2011 -
Strategic Minerals plc (AIM: SML) is pleased to provide the
following project update on its Iron Glen Tenement in Queensland,
located 40km southwest of Townsville’s deep sea harbour port
facilities.
Highlights
- Second phase drilling now underway with the second RC hole
drilled down to 175 meters and the first diamond drill at 100
meters; - Drilling program now expanded to the Lead Belly area of the
tenement following the positive assay results reported on 14 June
2011; and - Access to the Lead Belly area of the tenement now nearing
completion with drill pads for that area under construction.
Strategic Minerals is pleased to report that the second phase
drilling activity is progressing well at Iron Glen, with the second
exploratory RC hole having now been drilled down to 175 meters. In
total the Company plans to drill 30 holes over a 1.3 km area of
interest to delineate fully the extent of the known magnetite and
polymetallic anomaly in that sector.
Separately, further to the positive Lead Belly assay results of
surface rock chip samples reported on 14 July 2011 which indicated
the presence of high grade lead, zinc, copper and silver, the
Company is pleased to report that the drilling program has been
expanded to include 5 drill holes in the Lead Belly area of the
tenement so as to delineate the extent of the polymetallic system
in this new area. To that end, the Lead Belly access road is now
nearing completion with drill pads for that area already under
construction.
The Iron Glen second phase drilling activity follows on from the
initial drilling program completed in October 2010 in which 11
exploration holes were sunk to a maximum depth of 148 metres and
where superior grade magnetite deposits - as well as other
minerals including silver, lead and zinc - were intercepted.
Results from the 2010 activity indicated 30% to 50% iron (up
to 70% magnetite) over 10m -12m down hole widths. Sulphide base and
precious metal mineralisation is associated with the magnetite
skarn. Selected downhole intersections include 28m @ 52 g/t silver,
and 28m @ 0.48% zinc, 76m @ 0.35% zinc, with several other holes
returning 5m to 10m @ 0.5% to 1% zinc.
Pat Griffiths, CEO of Strategic Minerals, commented:
“We are pleased with the excellent progress being made on the
ground with diamond and Reverse Circulation percussion rigs
mobilized on site. We anticipate the second phase drilling
activity to be continued through July and August. Should you be
interested in additional information about the Lead Belly discovery
please go to
strategicminerals.co.uk/images/ts.pdf.
“We will keep shareholders notified of our ongoing progress at
Iron Glen on a regular basis.”
About Strategic Minerals plc
Strategic Minerals is a Queensland-based company incorporated in
the UK on 16 November 2010. The Company’s wholly owned
subsidiary, Iron Glen Pty Ltd, has title to the Iron Glen Tenement
which is located approximately 40 kilometres southwest of
Townsville, Queensland. The Tenement covers an area of 2,100
hectares and lies 10 kms from existing rail and road infrastructure
that links into Townville’s deep water port which has all year
round bulk loading facilities.
For further information please visit the Company’s website at
Follow the exploration site informal discussion:
Company
Strategic Minerals plc +61-755-324-448
Matthew Bonthrone +44-(0)-7730-402-783
Public Relations
Threadneedle Communications
Laurence Read/ Beth Harris +44-(0)-20-7653-9850
Retail Investor Relations
GTH Communications Limited
Toby Hall/Christian Pickel +44-(0)-20-3103-3903
.
