Royal Resources commences drilling at Razorback Iron Project

Royal Resources (ASX: ROY) has commenced a maiden drilling programme on the potentially massive Razorback Iron Project in South Australia.

The first phase of drilling will be undertaken on two adjoining prospects, Razorback Ridge and Iron Peak.

Razorback Ridge has previously been the subject of a mapping, drilling, bulk sampling, and metallurgical testing programme by the South Australian state government in the late 1960s.

That programme resulted in the definition of magnetite mineralisation that Royal aims to convert into an Inferred Resource.

Philip Crabb, Chairman, commented “the excessive and unseasonal rains during February and March 2010 in the Razorback area have delayed the start up of our drilling. We have now embarked on a resource definition programme that is set to change Royal’s standing in the iron ore industry."

The neighbouring Iron Peak prospect to the east of Razorback Ridge has never been drilled in any effective or systematic fashion. Based on outcropping geology and surface sampling, Iron Peak has a mineralisation potential similar to that seen at Razorback Ridge.

Drilling in these two areas, as well as more regional reconnaissance exploration areas, is being guided by both the recently collected high resolution aeromagnetic data and geological mapping completed in January 2010.

Approximately 12,000 metres of drilling, using RC and diamond drilling rigs, will be completed over the next three months.

Up to 120 holes, averaging 100 metres each, are planned initially. The company expects that geochemical assay results will be available around two months from the completion of drilling and Davis Tube Recovery data some time after that.
Royal Resources shares rose 8% to 19 cents in trading today.

http://www.proactiveinvestors.com.au/companies/news/6262/royal-resources-commences-drilling-at-razorback-iron-project-6262.html