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TRANSIT HOLDINGS LIMITED - ASX: TRH
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Description
Paradox Basin Potash Project
Transit’s Paradox Basin Potash Project covers approximately 89,000 acres in the Paradox Basin in South Eastern Utah strategically located close to existing road and rail infrastructure.
The Paradox Basin Potash Project is located close to the key agricultural regions of the United States and as such is ideally situated to supply fertiliser manufacturers and agricultural cooperatives in the western and south-western United States. The project also has export potential given its excellent proximity to key US rail infrastructure. Transit’s Paradox Basin Potash Project comprises potash mineralisation in two beds of interest, Potash 13 and Potash 18, ranging in depth from approximately 1,000 to 2,000 meters below the surface.
The Exploration Target range for Potash 13 is 0.9 to 1.3 billion tonnes of sylvinite (KCl-rich potash ore) at an average grade of 16 to 24% KCl.
The Exploration Target range for Potash 18 is 1.6 to 2.5 billion tonnes of sylvinite at an average grade of 21% to 30% KCl.
This amounts to an overall Exploration Target range for the two Potash beds of 2.5 to 3.8 billion tonnes of sylvinite at an average grade of 19 to 28% KCl (12 to 18% K2O).
Transit’s Iron Ore projects are located in the Marda-Diemals area, 100 kilometres north from the Great Eastern Highway and the town of Southern Cross. The area contains the Koolyanobbing Iron Operations owned by Cliffs Natural Resources which produces approximately 8 Mtpa of direct shipping haematite ore from the Koolyanobbing, Mt Jackson and Windarling mines.
Transit has a significant landholding in the Marda-Diemals greenstone belt, north of southern cross in the Central Yilgarn of Western Australia. The Company’s main projects are the Johnston Range and Copper Bore Projects.
The Johnston Range (Transit100%) project is located within the centre of the project area and contains extensive areas of banded iron formation marked by strong aeromagnetic anomalism, along the eastern flank of the Watch Bore syncline and including the structurally complex fold nose closure of the Horse Well anticline. These iron-rich geological units also extend into Transits adjoining Copper Bore project (Tranist 57%) and total over 35 kilometres strike length.
Sampling and subsequent drilling In 2007 and 2008 revealed areas of high grade hematite cap and sporadic hematite mineralization at depth. Further sampling in 2008 revealed further areas of high grade hematite that have not yet been drilled.
The Company also continues to hold the iron ore rights on the Die Hardy, Evanston and Muddarning Hill projects.
Mine For
iron ore, gold
Location of operation(s)
Western Australia, Utah
Address
Se 2, 12 Parliament Pl
WEST PERTH, WA, AUSTRALIA
Phone
(61 8) 9482 0515
Website
http://www.transitholdings.com.au
Last Updated
22/02/2010
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.