Business
Brazil Iron Ore Project
Brazil Iron Ore Project.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n Templar Minerals Limited 24 August 2009 \n \n \n24 August 2009 \nFOR IMMEDIATE RELEASE\nTemplar Minerals Ltd\n('Templar' or 'the Company')\nInitial Drill Results - Brazil Iron Ore Project\n\nTemplar Minerals Limited (AIM: TMP) is pleased to announce initial drilling and exploration results at the 390 square kilometre Rio Paranaiba project in the Brazilian State of Minas Gerais ('the Project'). \nThe Project represents a new iron ore discovery in the Brazilian State of Minas Gerais. It is located 210km from the city of Divinopolis, a key manufacturing hub and steel production centre. The Project is 90km on paved road from the township of Patos De Minas and has excellent infrastructure including power and water access.\nThe Company's Consultant, Mr L.D.S. Winter, P.Geo. Reports that:\nThe 390 square kilometre Rio Paranaiba Project Area in Minas Gerais, Brazil is within the Tocantins Geotectonic Province of the Brasilia Fold Belt. This area is the type locality for the Araxa, Ibian and Canastra Groups of Neo Proterozoic age and they are now present as three stacked thrust sheets. The Lower Thrust Sheet hosts the Canastra Group metasedimentary sequence which in turn contains the iron-bearing units of interest. The iron-rich unit (or hematite-rich unit) is a hematite-rich phyllite which in turn rests on a quartzite horizon.\n\nThe work to date has indicated the presence of hematite-rich sediments over an east-west distance of approximately 40 km, a significant distance, and with thicknesses up to at least 40 m in surface exposures in a newly identified area. \n\nSampling by the Company at 20 locations,, within the Project area have been analyzed at the SGS Geosol Laboratory in Belo Horizonte. These samples gave iron (\"Fe\") grades in the range from 17% to over 65% with an average of 43% with low phosphorous grades in the 0.05% range. Thirty-two samples taken by A.L. Fleming averaged 65.2% Fe, 0.07% Phosphorous and <0.01% Sulphur. \n\nA preliminary drilling program has been carried out through late June and July 2009. A number of significant intercepts have already been recorded, with drill hole Number 8 at the Corr...