BLACK RIDGE MINIGN NL - ASX: BRD

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Description

Black Ridge Mining NL (BRD) transformed from a company firmly ensconced in the biomedical research and development industry, to a mineral exploration company, with a view to assess with an open mind, any and all mineral opportunities presented, with its main focus on enhancing value adding wealth creation, for its shareholders.

Unaly Hill

Centered on the Ferro/vanadium deposit in the mid west region (Unaly Hill), south of Sandstone. The geographical area is well documented historically, with various operators having successfully extracted gold, identified vanadium (Windamurra) and more recently iron ore, to feed into the ever growing demand from China for that commodity. Indeed, the mid west region is being promoted globally, as potentially the next large exporter of iron ore for Western Australia. Both Government and publicly listed companies are investing enormous amount of resources into seeing this become a reality in the medium to long term.

coresample_smallDrilling results and analytical modeling at Unaly Hill indicate that there is potential for a magnetite operation with vanadium credits, subject of course to, a more detailed exploration program being put in place. This is particularly relevant, when the deposit is assessed in concert with neighboring properties, which greatly expands the potential for further exploration and development on a much larger scale.

BRD, in 2009, held discussions with Quest Minerals Ltd. (QNL) in respect of the Unaly Hill tenement and QNL’s Victory Bore tenement immediately north, to investigate the potential for commercially developing the indicated magnetite deposit running through the centre of both companies properties. The strike zone runs for approximately 24 kms over both properties with about 11kms within the Unaly Hill tenement. Whilst there are certain advantages in considering joint approaches, in the immediate future the company decided to concentrate on its own asset for further evaluation. Aeromagnetic analysis and 3D modeling, highlighting certain areas of highest expectations and, a brief diamond drilling program, commenced to establish a path forwards.

Since opening these discussions, a short term diamond drilling program has been completed with major intersections of mineralization encountered, as released to the market on December 18 2009. The company is extremely pleased with these highly prospective assays of magnetite, vanadium and titanium and look forward to further developments in 2010.

A significant step towards increading the size of the resource has been the proposed joint ventrue with Meteoric Resources for their land immediately to the south of Unaly Hill. A decision to proceed with that venture (E57/760) will be made in the second half of 2010.

To help with this programme, it was determined that a more detailed aeromagnetic survey was required and in May 2010, a high resolution airborne magnetic survey was flown with 50m line spacing at a ground clearance of ~30m. The survey area was designed to cover the most magnetic part of the Atley layered intrusive within the exploration tenement and, to include the northern reaches of E57/760 which lies to the south of E57/420; further reference to E57/760 follows in report.

The high definition resolution magnetic data was primarily acquired to help plan a drilling programme aimed at delineating an inferred vanadium/titanium-rich-magnetite resource. As reported on June 1st 2010, the survey was completed with 1,124 line kms flown over both tenements and was then to be used for modeling the proposed drilling programme.

The extent of the survey and location of previous drilling programmes, is highlighted on the embedded graphic with the survey area highlighted by the magenta colour.

Following consultation with both CSA Global and Southern Geoscience, an RC drilling programme commenced in July 2010 designed to achieve areas of inferred resource within E57/420 and at the same time, undertake exploratory holes on E57/760 for initial evaluation.

Mine For

vanadium, titanium, iron ore

Location of operation(s)

Western Australia

Address

Level 1, 47 Ord St
WEST PERTH, WA, Australia

Phone

(61 8) 9322 7822

Email

Website

http://www.blackridgemining.com/

Last Updated

21/04/2011