South Australian minerals explorer Southern Uranium Ltd says it has identified iron ore potential at its Jungle Dam prospect on the Eyre Peninsula in South Australia.
"Of a total of nine Acacia and Southern Uranium holes with complete assays and considered to be proximal to modelled magnetic bodies, six achieved iron intersections of significant width and grades of more than 30 per cent Fe (iron)," the company said on Wednesday. "The potential for substantial thicknesses of iron mineralisation is indicated by broad or adjacent intersections at the original Jungle Dam prospect," it said.
The metals division of Shell drilled at Jungle Dam in 1985 while Acacia Resources drilled there in 1996. Southern Uranium itself did some target drilling in 2008 and 2009.
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