FOLLOWING a successful infill drilling program at the Pilbara Iron Ore Project (PIOP) Flinders Mines is using a specialized track-mounted RC rig for a drilling program in the hills around the project. This program will test for further high grade mineralization adjoining the Blackjack resource and other PIOP targets.

The final assays for the infill program at Blackjack reinforce previous recent company announcements that high grade, low contaminant iron mineralization exists outside the current inferred resource boundary and outside existing pit designs as defined during the pre-feasibility study.

Significant intersections are: 30 metres from 34 metres @ 58.2% iron; 38 metres from 12 metres @ 59.4%, including 20 metres from 30 metres @ 61.9%; and 10 metres from 4 metres @ 57.9%.
Geological modelling of Blackjack has been completed and an updated mineral resource estimate is expected shortly.

Infill drilling has also been completed at the Paragon deposit with high grade Detrital Iron Deposit (DID) and Bedded Iron Deposit (BID) mineralization intersected with significantly low levels of silica and alumina. As a consequence of the infill nature of this drilling, these results are consistent with the current geological model for Paragon.

Significant intersections are: 28 metres from 20 metres @ 61.1% iron, including 8 metres from 34 metres @ 62.8%; 32 metres from 38 metres @ 58.2%, including 12 metres from 52 metres @ 61.4%; 26 metres from 44 metres @ 60.6%, including 16 metres from 52 metres @ 60.8%; and 24 metres from 6 metres @ 59.9%, including 8 metres from 6 metres @ 63.5%.

The PIOP infill program also included a significant amount of new drilling at the Champion deposit which resulted in an updated resource estimate. Champion now contains 202.1 million tonnes @ 55.7% iron with a significant proportion of 199.5 million tonnes @ 55.7% now in the indicated category.

This resource comprises 48.4 million tonnes of BID @ 55.9%, 133.7 million tonnes of DID @ 55.8% and 20 million tonnes of Channel Iron Deposit (CID) @ 54.9%. The previous Champion resource was 173.5 million tonnes @ 55.3%. The increase is due to the discovery of predominantly high quality DID and BID mineralization via infill drilling in the central part of the deposit.

Flinders says this resource update, when combined with those of the other deposits across the PIOP, including Blackjack and Paragon, will culminate in an update to the PIOP global resource and will be integrated into the bankable feasibility study which is due for completion by the end of June 2015.

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