Midas Resources to drill in anticipated West Pilbara iron ore program

Midas Resources (ASX: MDS) will commence drilling on its West Pilbara iron ore project as early as next week, following approval of its Programme of Work (PoW) by the Department of Mines and Petroleum (DMP).

The approval allows the company to commence drill preparation activities, including clearing of an access track and preparation of sites for drilling on its E08/1997 tenement in the renowned West Pilbara region, Western Australia.

The drill program  will include twenty seven vertical RC holes on a 100m grid to a depth of 60m.

Since the grant of E08/1997 in late February, the company has completed a Heritage survey with the cooperation of the Native Title party, and submitted a PoW to the DMP. Approval of the PoW has now been received.

Midas Managing Director Geoff Balfe said the company had moved quickly from the granting of the tenements into exploration activities.

“The receipt of these approvals now allows us to kick the exploration program into high-gear, with equipment moving to site to prepare the access track and the company’s exploration staff mobilising to site early next week."

"The drilling company has confirmed availability of the drill rig which will also move to site next week,” Balfe said.

Midas is developing a portfolio of four highly prospective iron ore projects in the Pilbara region, which includes projects located in close proximity to operating mines of BHP Billiton and Rio Tinto.

The company said assay results are expected by the end of May, following which Midas is aiming to undertake an initial resource estimate.

Further work could include the drilling of large diameter core samples for bulk density measurements and preliminary metallurgical testwork.

Midas said the core drilling has the potential to upgrade the classification of the initial resource estimate.

http://www.proactiveinvestors.com.au/companies/news/6338/midas-resources-to-drill-in-anticipated-west-pilbara-iron-ore-program-6338.html