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Iron South Discovers New Targets and Extensions through High Resolution Ground Magnetic Survey
(via Thenewswire.ca) Iron South Mining Corp. (TSX-V: IS, FSE: OAY1 (WKN: A0RK7E), "Iron Sou...
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":"\nIron South Discovers New Targets and Extensions through High Resolution Ground Magnetic Survey\n\n(via Thenewswire.ca)\n\n \nIron South Mining Corp. (TSX-V: IS, FSE: OAY1 (WKN: A0RK7E), \"Iron South\" or the \"Company\") is pleased to announce that it has completed a program of detailed ground magnetometer surveying covering approximately 6,423 ha on priority target areas at Iron South's 94,796 ha Fierro property in Rio Negro Province, Argentina. The program confirmed the magnetic response of known exposures of iron formation at 300 Zone and Gonzales Target and indicated the possible presence of covered extensions which would significantly increase the size of these zones. Furthermore, the survey outlined six new magnetically anomalous areas that are believed to represent covered extensions of the iron formations.\n\n\n \n300 Zone\n\n\n \nAt the 300 Zone, north striking and east dipping outcrops of iron formation are exposed for 300 m before disappearing beneath post mineral cover. Assays from saw cuts across the outcrops returned 79.2% Fe2O3 over 7 m and 80.1% Fe2O3 over 5 m. The new magnetic data indicate the potential for strike extensions both north and south of the exposed iron formation, for an indicated potential strike length of 900 m.\n\n\n \nGonzales Target\n\n\n \nPreviously, Iron South reported the presence of several sub-cropping iron formation units at Gonzales and the potential for strike extensions under cover for up to 1.5 km. The new magnetic data support this interpretation and indicate the potential for multiple parallel iron formation units.\n\n\n \nNew Targets\n\n\n \nRegionally within the survey area, six other magnetic anomalies were outlined that are believed to represent covered occurrences of iron formation. The targets include Rozales, Loma Hierrada, North, Lomo Roto, Lomo Arranza, and Monchlo (see map at http://www.ironsouthmining.com/i/pdf/2012-08-03_NRM.pdf). These targets will require ground follow-up prospecting, mapping and sampling.\n\n\n \nManagement is reviewing the data in order to prioritize targets and develop a work program that will include initial drill testing of the main targets and follow-up exploration work over the newly defined zones.\n\n\n \nThe Fierro Project is located adjacent to the producing Minera Sierra Grande iron mine, owned by Metallurgical Corporation of China Ltd. T...