Broad Flat Well Iron Project

The Broad Flat Well Project is located approximately 115 km from Karratha (see Figure 1), in the Pilbara of WA. Broad Flat Well lies within the Hamersley Province, renowned for iron ore deposits, operating mines and sophisticated transport infrastructure.

Figure 1: Broad Flat Well Location Plan.

The Broad Flat Well tenement (E 47/4580) lies within 10 km of the sealed Munuwarra Red Dog Highway, leading to the Northwest Coastal Highway and ports at Cape Preston, Dampier, Point Samson and Port Hedland.  The tenement covers an area of approximately 223km2, with the basement geology dominated by mafic to intermediate volcanics and sediments of the Maddina and Jerrinah Formations, which occur within the Fortescue Group. Significantly there are numerous remnants of mid-Miocene Channel Iron Deposits (CID) related to the Fortescue River palaeo-drainage system located within the tenement area.

CID mineralisation occurs as scattered, dissected outcrops along the Fortescue River valley. The eroded outcrops are remnants of an extensive network of CID deposits, which are found in tributary channels of the ancestral Fortescue River (see Figure 2).

Figure 2: CID Mineralisation Outlines and Sample Locations at Broad Flat Well.

Rock Chip Sampling

A reconnaissance program comprising mapping and surface sampling (rock chips) was completed in 2023. Thirty-six (36) rock chip samples were collected from the tops of mesa-form hills which are interpreted as remnant mid-Miocene Channel Iron Deposits (CID) related to the Fortescue River palaeo-drainage system.

The target areas were selected based on paucity of historical sampling and the interpreted mesa-form physiography.  Sampling was conducted on traverses spaced 400 m apart, and sampling along the traverses at approximately 50m spacing, orthogonal to the main trend of the palaeo-drainage systems.  At each location, samples were collected within a radius of approximately 5 to 10 m at each location and randomly sampled (reflecting typical outcrop or sub-cropping CID mineralisation within the sampling radius).

The Company selected areas that were interpreted to possibly comprise higher iron grades, topographically higher, and that have not yet been sampled.

The Company’s sampling program was conducted over a total length of 3.9 km of mesa-form CID deposits with widths ranging from 50m to 200m and averaging over 100m. The combined area of CID outcrop/sub-crop sampled by the Company totals 49 hectares. Including the area sampled by API, the combined area of CID deposits totals 66 hectares (660,000 m2, see Figure 3).

Figure 3: CID Sampling Locations (Detail) at Broad Flat Well

Observations made during the program suggest that the CID deposits could be approximately 5 metres in vertical thickness, on average, based on the observed thicknesses (2-10 m) and aerial extent of the mesa-form CID outcrop and sub-crop sampled. The dry bulk density for CID material averages 2.6 t/m3, which is the average minimum bulk density for CID iron ore deposits in the Pilbara, based on recent publications[1]. The grade range is between 52% to 59% Fe; the grades were projected using assay results for all rock chip sampling conducted with the combined CID outline areas.

The Company cautions that the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Historical drilling nearest to the area being explored intercepted 2 m at an average grade of 52.6% Fe, from surface (drill hole FRC001). That drill hole is located within the westernmost occurrence of the outcropping Area 1 West CID (Figure 2; This is the thinnest area sampled by the Company and the least prominent topographically.

Notably, API Management Pty Ltd (API) obtained higher Fe grades from one of these mesa-form, topographically higher CID outcrops, which were not subsequently drill tested by Forge Resources Swan Pty Ltd (Figure 3). Significantly, the results of Burley’s sampling align with those obtained by API on the mesa-form CID outcrop designated in the attached figures as Area 1 East (Figure 3).

Historical Exploration

API Management Pty Ltd (API) 2006-2009

API Management Pty Ltd (API) carried out exploration activities in the region, including within the current tenement boundary of the Company’s E 47/4580. API managed the Australian Premium Iron Joint Venture (Iron only), De Beers Australia Exploration Limited (diamonds only) and Aquila Resources Limited (all other minerals) (WAMEX A85993).

Historical rock-chip sampling conducted by API, returned iron (Fe) results typical of those obtained from surface sampling of CID throughout the Pilbara with results as high as 61.5% Fe[2].   Within the Project tenement, 191 rock chip samples were taken by API during 2006-2009. API sampled select CID prospective areas at nominal sample spacing of 100 metres on traverses spaced variably between 100 to 500m apart. API’s sampling off the CID outcrop designated as Area 1 East was spaced approximately 100 metres apart along the length of the outcrop.

Forge Resources Swan Pty Ltd (Forge), 2018

In mid-2018, Forge completed a program of RC drilling, 60 drillholes completed for 2,024 metres targeting CID mineralisation in two main areas (WAMEX A A119101).  In the western sector of E 47/4580, drilling was completed on an approximate 1200m x 100m grid with results proving disappointing. Only thin (less than 5m thickness) CID was intersected grading typically less than 50% Fe.  Drilling in the southern part of E 47/4580 was completed in two areas on an approximate 600m x 50m grid where mapped GSWA CID was present. Results revealed only thin CID of marginal grade (less than 50% Fe).  The historical drill sites were visited by the Company to gauge the relationship between historical rock chip sampling and drill results. It was observed that Forge’s drilling carried out within E 47/4580 was restricted to the more readily accessible and topographically lower areas, which had returned variable results from historical rock chip sampling. Generally, in these areas, the CID appears to be thinner and closer to basement rock units.


[1] Refer to Cullen Resources (ASX: CUL) announcement dated 8 December 2016, Mineral Resources (ASX: MIN) announcement dated 22 September 2023 and BC Iron (ASX: BCI) announcement dated 30 August 2016.
[2] Refer ASX BUR announcement dated 23rd September 2021

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