PLUTON RESOURCES LIMITED - ASX: PLV

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Description

Pluton Resources Limited (ASX:PLV) is a mineral exploration company focusing on iron ore in the Kimberley region of Western Australia, with additional copper, gold and silver projects located in northwestern Tasmania. The company was listed in 2006 and is based in Melbourne, Australia.

The company’s flagship iron ore project is located on Irvine Island, about 130km north of Derby in Western Australia. Irvine Island is one of three islands forming the Kimberley Iron Ore Hub. It is located about 3km from the Cockatoo Island Mine and about 10km from the Koolan Island Mine. Cockatoo Island was the location from which iron ore was first exported in Australia. The iron ore from these three island is typically high grade and low in impurities. The islands boast deep water access. They are located near existing seaways and major Asian customers.

Pluton’s Tasmanian projects are located to the northwest of the state within the highly prospective Mount Read Volcanic (MRV) belt. The MRV is a proven area of poly-metallic mineralisation boasting an extensive history of pioneer exploration and long-standing mining. The MRV is one of the most highly mineralised regions on Earth.

Pluton is a progressive and innovative company. Sturdy relationship, a genuine respect for native title holders, Mayala People and genuine passion for environment have seen the company exceed its stated goals in the past and will continue to see the company develop and propser into the future.

Irvine

* Pluton holds 100% of the mineral tenement on Irvine Island.
* The region includes existing mining and port infrastructure, including operations on Cockatoo Island co-owned by Cliffs in a joint venture with HWE Mining Pty ltd.
* The Tenements are strategically located for Chinese and Indian markets.
* Iron mineralisation on Irvine Island is exposed in two locations; Hardstaff Peninsula and the Isthmus region.
* Phase II drilling has identified an inferred resource of 483Mt at the Hardstaff Peninsula.
* Drilling to define a resource at the Isthmus is ongoing.
* The ore has very low phosphorous, alumina and sulphur in the iron ore.
* CSIRO pilot scale test work has shown that magnetic seperation can produce a concentrate with an iron content of 65.62% Fe and 2.49% SiO2 with an iron recovery of 83.7% from Wonganin sandstones(ASX announcement, February 5, 2010).

Tasmania

Pluton Resources has a secondary focus (apart from Iron Ore) on three tenements prospective for Copper-Gold in Tasmania. The Cethana Magnetic Anomaly, a large 1.5x1km high intensity anomaly is covered by two of these tenements and this project is the short term focus of exploration in Tasmania. Consultant Geologist Greg Corbett concluded that the Cethana Anomaly was a priority exploration target within the Tasmanian portfolio. Cethana lies on a crustal scale lineament thought to be critical for focussing mineralisation.

* Pluton has 100% interest in the Dove River tenement and is earning a 60% interest in the two Cethana tenements.
* The tenements are prospective for porphyry-style copper and gold, and contain a number of historic goldmines.
* These tenements are included within the Mt Read Special Prospectivity Zone (established by the Tasmanian Government to promote investment security in mineralised areas).
* Geophysical data includes a number of areas that have anomalous radiometric, magnetic and electromagnetic responses. This anomalism is consistent with copper-gold porphyry targets.

Mine For

iron ore, copper, gold, silver

Location of operation(s)

Western Australia, Tasmania

Address

Level 4, 468 St Kilda Rd
MELBOURNE, VIC, AUSTRALIA

Phone

(61 3) 9867 8283

Email

Website

http://www.plutonresources.com

Last Updated

12/5/2011