Slide 1: Mt Forrest Iron Project – Interim Drilling Results
Statement to ASX Limited Mt Forrest Iron Project – Interim Drilling Results 24 March 2011 With its Mt Forrest Iron exploration Highlights progressing well, Mindax is putting in place necessary approvals and aligning The last phase of drilling at Mt Forrest is complete with the following infrastructu
Slide 2: Six of the 8 magnetite targets drilled confirm mineralisation persists at depth
In October last year the company released a resource statement that identified 1.01 billion tonnes of beneficiable magnetite ore grading 31 % Fe (JORC Inferred). In the period since October 2010 to mid February 2011, a further 66 drill holes have been completed at Mt Forrest for an advance of 15,476
Slide 3: For more information
For more information: Media: Greg Bromley David Utting Managing Director David Utting Communications Mindax Limited +61 (0) 416 187 462 +61 (0) 8 9485 2600 The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Gregory John Bro
Slide 4: Table 1: Drill Assay Results
Table 1: Drill Assay Results MFC259 to MFC 270, MFC301 to 315, MFC326 to MFC339 using 25% lowercut. Drill Hole From (m) To Down Hole Fe% SiO2% Al203% P% S% LOI% Interval (m) (m) Emu 26 58 32 37.2 42.7 1.6 0.05 0.02 2.2 MFC0259 68 76 8 36.0 42.9 2.1 0.06 0 2.8 86 132 46 36.2 47.4 0.1 0.07 0.05 ‐0.4 1
Slide 5: Table 1: Drill Assay Results (continued)
Drill Hole From (m) To Down Hole Fe% SiO2% Al203% P% S% LOI% Interval (m) (m) 226 236 10 26.2 53.3 1.5 0.06 0.93 1.5 80 92 12 33.5 28.4 10.4 0.04 0.09 1.4 102 112 10 39.5 37.9 2.5 0.05 0.01 0.8 120 140 20 38.2 43.3 0.6 0.04 0.00 0.5 148 178 30 35.5 41.0 3.6 0.05 0.20 0.5 196 198 2 28.7 42.7 5.7 0.04
Slide 6: Table 1: Drill Assay Results (continued)
Drill Hole From (m) To Down Hole Fe% SiO2% Al203% P% S% LOI% Interval (m) (m) 230 320 90 38.0 43.8 0.4 0.07 0.02 ‐0.8 10 24 14 41.6 19.8 14.0 0.03 0.01 8.2 MFC0328 38 58 20 30.2 52.5 1.6 0.03 0.01 2.2 112 136 24 32.7 49.8 1.7 0.07 0.04 ‐0.1 Euro 22 32 10 30.6 28.8 14.1 0.03 0.01 11.2 38 58 20 31.9 4
Slide 7: Table 2: Drillhole Collar Locations
Drill Hole From (m) To Down Hole Fe% SiO2% Al203% P% S% LOI% Interval (m) (m) MFC0266‐ Assays 269 Pending *Diamond Pre Collar Table 2: Drillhole Collar Locations Drill Hole Easting_MGA94 Northing_MGA94 Dip Azimuth Total Depth (m) MFC0259 787027 6816981 54.2 240.0 132 MFC0260 786981 6817123 74.6 260.
Slide 8: Table 3: DTR Testing Results
Drill Hole Easting_MGA94 Northing_MGA94 Dip Azimuth Total Depth (m) MFD0010 789654 6824191 58 90.0 225.6 MFD0011 789880 6824344 50 270.0 357.4 MFD0012 789860 6824516 57.0 250.0 391.7 Table 3: DTR Testing Results (<12.0% SiO2) Down Down % DTR Down hole Head Conc Conc Conc Conc Conc Prospect Hole Numb
Slide 9: Figure 1: Mt Forrest Location Plan
Figure 1: Mt Forrest Location Plan
Slide 10: Figure 1: Mt Forrest Drill Status – March 2011
Figure 1: Mt Forrest Drill Status – March 2011
Slide 11: Figure 3: Mt Forrest Northern Collar Plan – March 2011
Figure 3: Mt Forrest Northern Collar Plan – March 2011
Slide 12: Figure 4: Mt Forrest Southern Collar Plan – March 2011
Figure 4: Mt Forrest Southern Collar Plan – March 2011
Slide 13: Drill Sections with DTR Concentrates
Taree Corre £8050 of complete oxidation a, 69.5% Fe % Fe \% Fe Reson 7] masonette (pasa, @ oxcrePe00y Emu Central - Drill Section with DTR Concentrates @ orcrert0.w, Emu South - Drill Section with DTR Concentrates 2011 03 24 ASXMt Forest Echidna - Drill Section with Primary Fe Grades Dingo - Drill S
Slide 14: Echidna - Drill Section with Primary Fe & SiO2 Grades
MFC 0303 MFC 0302 12m @ 36.5% Fe Fe 46.3% SiO O2 12m @ 33.5% Fe F 28.4% SiO2 28 8m @ 38.9% Fe 10m @ 39.5% % Fe 37.9% SiO22 20m @ 38 8.2% Fe 43.3% SiO O2 10m @ 29.2% Fe 30m @ 35.5% Fe 41.0% SiO SiO2 51.3% SiO2 12m @ 31.1 1% Fe Fe 49.5% % SiO2 26m @ 36.0% Fe F 44.2% S Metres RL Regolith Magnetite 18m