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BASE RESOURCES LIMITED - ASX: BSE
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Description
Base Iron is a next-generation iron ore company focused on the Mid West, Australia's fast-emerging, alternative iron ore region. With a portfolio of highly prospective early stage projects, Base Iron is well positioned to capitalize on the timeframes for the development of the Mid West and the resurgence of the iron ore sector in the medium to long term. The development outlook for the Mid West continues to be positive. Increasing direct foreign industry investment reflects both the region's strategic value to steel producers and the longer term expectations for iron ore demand.
Base Iron has secured 6 projects (2 fully granted and 4 subject to application) that are located near existing or planned infrastructure and known significant iron deposits in the Mid West of Western Australia. They are also considered to be in the right geological settings to potentially host significant iron deposits.
Poon East Project
The Poona East project, composed of 3 exploration licence applications covering 282 square kilometres, is located in the Murchison mineral field 10 kilometres south of the Weld Range. The Tenements host the westward extension of some of the structures and granite pegmatites of the Poona rare earth element (REE) occurrence. This is a complex structure and may have significant potential for base metals, gold and REE minerals beneath cover. The eastern side of the land holding contains complex folds in BIF units. Although limited in size and scattered, it is believed that the structure of the area is a fold system that repeats some of the BIF units. The magnetic maps show elevated and intense responses in the central part of the tenement set mainly within the E20/673 and E20/674 tenements. These responses are probably due to folded and repeated BIF horizons (Targets 1-3). Target area 2 is estimated to be 5 kilometres long by about 2kilometres wide. There is also similar structure in the most NW part of the tenement E20/674. The BIF-type magnetic responses are similar to that of the area surrounding Poona and may be repeat or "mirror" structures.
Murgoo Project
The Murgoo Project (exploration licence application E59/1448 and E59/1556) lies between two well known greenstone belts at Yalgoo and Dalgaranga. While much of the Tenement is under thin transported cover, there exists an outcrop of mafic volcanics and sediments including BIF in the North of the Tenement. Strong magnetic responses in the NE portion of the tenement are not associated with radiometric anomalies and have a linear, folded pattern similar to that of BIF. These occur beneath cover and at least 3 targets are present and take form of repeated acurate folds and seperated fold limbs. Another area in the central west of the tenement has similar magnetic intensity and may be another isolated area of BIF. A magnetic high in the NW of the tenement lies within the main alluvial drainage and the diffuse pattern suggest that it is related to surface deposits.
Tallering South Project
The tenements overlie folded rocks of the southern flank of a large antiform structure centred on the well-known Tallering Peak iron ore deposits. The 3 mtpa Tallering Peak hematite operation of Mt Gibson Iron Limited lies 4 kilometres to the north.
Iron Hill South Project
The Iron Hill South Project is located in the Mt Gibson iron field in the Mid West of Western Australia, approximately 200 kilometres south of Mt Magnet. The Mt Gibson area has a long history of iron production from magnetite and hematite-bearing Banded Iron Formations (BIF). It contains a range of significant previously mined and current advanced projects including Iron Hill, Mt Gibson and the proposed 5 million tonne per annum (mtpa) Extension Hill magnetite operation, which lie some 2 kilometres to the north. Despite this, it would appear that no thorough regional exploration program has been undertaken after the initial discovery of economic iron deposits. The Iron Hill South Project comprises a fully granted exploration licence of 5 blocks (15.5 square kilometres) and two prospecting licences, P59/1721 and P59/1722. These Tenements are considered prospective for secondary detrital/channel fill deposits related to the Mt Gibson field with possible buried BIF in 3 locations.
Mine For
iron ore
Location of operation(s)
Western Australia
Address
Level 1 50 Kings Park Road
WEST PERTH, WA, AUSTRALIA
Phone
08 9322 8910
Website
Last Updated
21/07/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.