Atlas Iron Limited (ASX: AGO)
ASX RELEASE
21
MAY 2009
NEW DSO DISCOVERY AT MT WEBBER
Atlas
Iron Limited [ASX Code: AGO] is pleased to announce initial results from
RC drilling at its Mt Webber DSO project. Mt Webber (Atlas 100% Fe Rights) is
located 150km southeast of Port Hedland in the Pilbara of Western Australia.
Highlights
of the drilling, from the first 25 holes, include:
66 metres at 58.5% Fe, 4.3% SiO2, 1.9% Al2O3,
0.09% P and 0.02% S from surface in MWRC008;
44 metres at 60.1% Fe, 4.9% SiO2, 1.3% Al2O3,
0.09% P and 0.01% S from surface in MWRC016, including 26 metres
at 61.6% Fe;
30 metres at 60.1% Fe, 4.4% SiO2, 1.4% Al2O3,
0.06% P and 0.01% S from surface in MWRC022;
32 metres at 59.9% Fe, 3.1% SiO2, 1.3% Al2O3,
0.08% P and 0.02% S from 16m in MWRC020, including 8 metres
at 61.1% Fe;
26 metres at 60.8% Fe, 3.8% SiO2, 1.5% Al2O3,
0.06% P and 0.01% S from surface in MWRC023, including 20 metres
at 62.1% Fe;
42 metres at 58.8% Fe, 4.8% SiO2, 2.4% Al2O3,
0.06% P and 0.03% S from 10m in MWRC002, including 10 metres
at 61.4% Fe, and
49 metres at 58.7% Fe, 4.1% SiO2, 1.8% Al2O3,
0.11% P and 0.03% S from surface in MWRC003, including 14 metres
at 60.8% Fe.
This
is a very good discovery and we look forward to completing the rest of the
drilling programme and reporting resources later in
the year, commented David Flanagan, Atlas Managing Director. Our initial reconnaissance
and mapping indicated that this project had potential to be the next major
pillar of Atlas expansion plans, and these drill results certainly back that up.
To
date Atlas has drilled approximately 65 RC holes into the first prospect at Mt
Webber on an 80m line spacing. Exploration work is
continuing, with the goal of having sufficient coverage to estimate an inferred
resource on all the main prospects prior to the end of 2009.
Full
details of the results are contained in Appendix 1, attached.
Background
Atlas Iron Limited
Atlas
is mining at its 100%-owned Pardoo Iron Ore Project, located 75 kilometres by
road from Port Hedland, in the Pilbara region of Western Australia and
completed its first shipment of Pardoo Direct
Shipping Ore in early December 2008. Atlas is planning to export 1 million tonnes during its first 12 months of operations at the Pardoo Project, growing to 3 Mtpa
following commissioning of the Utah Point port facility. When combined with
additional export tonnages from its Abydos and Wodgina
DSO Projects, the Company is targeting exports at an annualised
rate of 6 Mtpa in 2010, growing to 12 Mtpa by 2012.
For
further information please contact
David
Flanagan, Managing Director
Andrew
Paterson, Geology Manager
Tel
(08) 9476 7900
APPENDIX 1: SIGNIFICANT INTERCEPTS
|
Hole ID
|
Easting (GDA94)
|
Northing (GDA94)
|
Dip��
|
Azimuth (GDA94)
|
Hole
Depth
|
From
|
To
|
Int
Width (m)
|
Fe
%
|
SiO��
%
|
Al��O�� %
|
P
%
|
S
%
|
LOI
%
|
|
MW01
|
|
MWRC001
|
737180
|
7616560
|
-60
|
300
|
69
|
14
|
30
|
16
|
58.1
|
5.4
|
0.8
|
0.07
|
0.03
|
10.2
|
|
|
|
|
|
|
|
34
|
66
|
32
|
59.9
|
2.8
|
0.8
|
0.11
|
0.01
|
10.2
|
|
|
|
|
|
|
includes
|
38
|
54
|
16
|
60.4
|
2.3
|
0.7
|
0.11
|
0.01
|
10.3
|
|
|
|
|
|
|
and
|
58
|
64
|
6
|
60.3
|
2.0
|
1.0
|
0.14
|
0.01
|
10.3
|
|
MWRC002
|
737215
|
7616540
|
-60
|
300
|
84
|
10
|
52
|
42
|
58.8
|
4.8
|
2.4
|
0.06
|
0.03
|
7.8
|
|
|
|
|
|
|
includes
|
16
|
26
|
10
|
61.4
|
4.3
|
2.0
|
0.05
|
0.03
|
5.3
|
|
MWRC003
|
737249
|
7616520
|
-60
|
120
|
57
|
8
|
57
|
49
|
58.7
|
4.1
|
1.8
|
0.11
|
0.03
|
8.8
|
|
|
|
|
|
|
and
|
32
|
46
|
14
|
60.8
|
2.7
|
1.2
|
0.12
|
0.02
|
7.9
|
|
MWRC004
|
737122
|
7616778
|
-60
|
300
|
48
|
18
|
26
|
8
|
58.7
|
3.5
|
1.3
|
0.06
|
0.04
|
10.7
|
|
MWRC005
|
737156
|
7616758
|
-60
|
300
|
54
|
8
|
12
|
4
|
55.8
|
7.9
|
2.4
|
0.02
|
0.05
|
9.3
|
|
|
|
|
|
|
|
16
|
30
|
14
|
56.9
|
6.2
|
1.2
|
0.05
|
0.03
|
10.2
|
|
MWRC006
|
737191
|
7616738
|
-60
|
300
|
51
|
6
|
10
|
4
|
56.1
|
6.5
|
3.1
|
0.05
|
0.06
|
9.5
|
|
MWRC007
|
737225
|
7616718
|
-60
|
300
|
39
|
10
|
30
|
20
|
57.4
|
7.4
|
2.4
|
0.03
|
0.03
|
7.6
|
|
|
|
|
|
|
|
26
|
30
|
4
|
61.3
|
2.6
|
1.4
|
0.02
|
0.03
|
8.0
|
|
MWRC008
|
737260
|
7616698
|
-60
|
300
|
78
|
0
|
66
|
66
|
58.5
|
4.3
|
1.9
|
0.09
|
0.02
|
8.9
|
|
|
|
|
|
|
and
|
56
|
64
|
8
|
60.2
|
1.8
|
1.0
|
0.11
|
0.01
|
10.5
|
|
MWRC010
|
737100
|
7616421
|
-60
|
300
|
45
|
4
|
20
|
16
|
59.4
|
4.9
|
1.1
|
0.15
|
0.02
|
8.2
|
|
|
|
|
|
|
|
16
|
20
|
4
|
62.3
|
2.7
|
0.6
|
0.10
|
0.02
|
7.2
|
|
MWRC011
|
737135
|
7616401
|
-60
|
300
|
78
|
0
|
26
|
26
|
59.7
|
4.5
|
0.7
|
0.11
|
0.01
|
8.4
|
|
|
|
|
|
|
|
6
|
22
|
16
|
61.6
|
3.1
|
0.4
|
0.12
|
0.01
|
7.9
|
|
MWRC012
|
736748
|
7616532
|
-60
|
300
|
54
|
0
|
4
|
4
|
57.1
|
8.5
|
4.4
|
0.06
|
0.02
|
4.2
|
|
MWRC014
|
736818
|
7616492
|
-60
|
300
|
36
|
16
|
20
|
4
|
57.0
|
6.3
|
1.2
|
0.10
|
0.01
|
10.5
|
|
MWRC015
|
736644
|
7616592
|
-60
|
300
|
76
|
0
|
6
|
6
|
56.8
|
5.4
|
2.6
|
0.06
|
0.04
|
10.2
|
|
MWRC016
|
736679
|
7616572
|
-60
|
300
|
58
|
12
|
38
|
26
|
56.6
|
7.6
|
2.4
|
0.09
|
0.02
|
8.4
|
|
|
|
|
|
|
includes
|
24
|
28
|
4
|
61.3
|
3.4
|
1.5
|
0.11
|
0.01
|
7.0
|
|
|
|
|
|
|
and
|
32
|
36
|
4
|
60.8
|
4.0
|
0.8
|
0.10
|
0.01
|
7.7
|
|
MWRC017
|
736714
|
7616552
|
-60
|
300
|
82
|
0
|
44
|
44
|
60.1
|
4.9
|
1.3
|
0.09
|
0.01
|
7.5
|
|
|
|
|
|
|
and
|
8
|
34
|
26
|
61.6
|
3.6
|
1.1
|
0.07
|
0.01
|
6.8
|
|
|
|
|
|
|
|
48
|
52
|
4
|
56.9
|
7.1
|
1.0
|
0.20
|
0.01
|
9.7
|
|
MWRC019
|
736759
|
7616711
|
-60
|
300
|
40
|
8
|
28
|
20
|
57.5
|
6.7
|
1.9
|
0.06
|
0.04
|
8.7
|
|
MWRC020
|
736794
|
7616691
|
-60
|
300
|
58
|
6
|
10
|
4
|
56.5
|
8.6
|
1.6
|
0.02
|
0.03
|
8.2
|
|
|
|
|
|
|
|
16
|
48
|
32
|
59.9
|
3.1
|
1.3
|
0.08
|
0.02
|
9.2
|
|
|
|
|
|
|
includes
|
24
|
32
|
8
|
61.1
|
2.1
|
1.2
|
0.04
|
0.02
|
8.8
|
|
|
|
|
|
|
and
|
36
|
46
|
10
|
60.9
|
1.8
|
0.9
|
0.13
|
0.01
|
9.4
|
|
MWRC021
|
736828
|
7616671
|
-60
|
300
|
46
|
10
|
32
|
22
|
59.4
|
3.4
|
1.0
|
0.03
|
0.02
|
10.2
|
|
|
|
|
|
|
includes
|
18
|
26
|
8
|
60.5
|
2.2
|
0.8
|
0.01
|
0.01
|
10.4
|
|
MWRC022
|
736967
|
7616591
|
-60
|
300
|
52
|
0
|
30
|
30
|
60.1
|
4.4
|
1.4
|
0.06
|
0.01
|
7.9
|
|
|
|
|
|
|
includes
|
10
|
26
|
16
|
62.1
|
3.0
|
0.9
|
0.06
|
0.00
|
7.0
|
|
|
|
|
|
|
|
40
|
44
|
4
|
55.6
|
9.1
|
1.2
|
0.11
|
0.00
|
9.4
|
|
MWRC023
|
736898
|
7616631
|
-60
|
300
|
58
|
0
|
26
|
26
|
60.8
|
3.8
|
1.5
|
0.06
|
0.01
|
7.2
|
|
|
|
|
|
|
includes
|
6
|
26
|
20
|
62.1
|
3.1
|
0.7
|
0.07
|
0.00
|
6.9
|
|
MWRC024
|
736932
|
7616611
|
-60
|
300
|
58
|
0
|
8
|
8
|
58.4
|
5.7
|
1.6
|
0.04
|
0.01
|
8.8
|
|
|
|
|
|
|
|
14
|
30
|
16
|
55.5
|
8.7
|
1.5
|
0.13
|
0.00
|
9.9
|
|
MWRC025
|
737002
|
7616571
|
-60
|
300
|
46
|
0
|
4
|
4
|
55.4
|
6.9
|
3.6
|
0.07
|
0.02
|
9.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Table 1:
Significant intercepts from the first 25 holes at Mt Webber. Only intercepts greater than 2m
at 55% Fe have been chosen for inclusion.
Note: 2m composite samples, cone split sampling,
55.0% Fe lower cut, no upper cut, maximum internal waste of 2 m, analysis by
X-Ray Fluorescence Spectrometry Method with Loss on Ignition (LOI) determined
using Thermo-Gravimetric Analyses.
|
COMPETENT
PERSON STATEMENT
Exploration Results ? Mt Webber
The information in this report that relates to exploration results is
based on information compiled by Mr Hamish Pescini who is a member of the Australasian Institute of
Mining and Metallurgy. Hamish Pescini is a full time
employee of Atlas Iron Limited. Hamish Pescini has
sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity which he has
undertaken to qualify as a Competent Person as defined in the 2004 Edition of
the ��Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves��. Hamish Pescini consents to the
inclusion in the report of the matters based on his information in the form and
context in which it appears.