NT Minerals (ASX:NTM) Reveals Significant Iron Ore Potential at Twin Peaks Project
Exploration Target
NT Minerals Limited (ASX:NTM) has identified an initial JORC-compliant exploration target for magnetite mineralisation within the Woolbung BIF sequence at the Twin Peaks Project. The target ranges from 230 to 770 million tonnes with an iron grade between 20% and 35%. Geological mapping and aeromagnetic imagery revealed 23.5 kilometres of BIF units, with magnetite mineralisation starting 50 metres below the surface and extending vertically up to 150 metres.
Historical Exploration
Historical drilling by Trafford Resources Limited between 2012 and 2015 focused on Fe-ore potential within the Woolbung BIF. Significant intercepts include 18 metres at 43.94% Fe from drillhole 13TPRC017 and 46 metres at 34.75% Fe from drillhole 13TPRC018. These findings support the interpretation of structurally controlled magnetite-rich BIF units.
Recent Exploration
Recent field reconnaissance by NT Minerals involved collecting 15 rock chip samples from the Big Lunch and Pleiades prospects. Results showed iron grades up to 63.42%, with two samples exceeding 60% Fe. This high-grade material confirms the potential of the interpreted magnetite target trend lines.
Next Steps
The Company plans to advance its exploration efforts by identifying new areas of interest, initiating planning and approvals for future drill programs, and conducting preliminary metallurgical tests. These actions aim to further assess the Fe-ore potential and validate the magnetite concentrate grade.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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