- Reedy Lagoon (RLC) receives initial modelling results from its collaboration with CSIRO, which seeks to develop a method of evaluating magnetite resources
- Using petrophysically constrained magnetic modelling, the research will guide Reedy’s drilling work to determine a mineral resource for the Burracoppin magnetite deposit
- Initial results have been presented to Reedy and its consultants, H&S Consultants, with the first modelling being “most encouraging”
- Reedy is now planning a drilling campaign with the initial holes designed to investigate the CSIRO model
- On the market, Reedy is up 2.7 per cent and trading at 3.8 cents per share
Reedy Lagoon (RLC) has received initial modelling results from its collaboration with CSIRO, which seeks to develop a method of evaluating magnetite resources.
Last year, the company teamed up with CSIRO to conduct research for its Burracoppin Iron Project, located between Perth and Kalgoorlie. Using petrophysically constrained magnetic modelling, this research will guide Reedy’s drilling work to determine a mineral resource for the Burracoppin magnetite deposit.
So far, the work completed by CSIRO includes sub-sampling of intervals of core to obtain
petrophysical data which were used to calculate relationships between iron grade, magnetic susceptibility and density.
Initial results have been presented to Reedy and its consultants, H&S Consultants, with the first modelling being “most encouraging.”
Further assay data is expected later this month and will be included into the model
once available.
“The CSIRO model has potential to significantly assist the company’s planned drilling,” Reedy told the market today.
Reedy is now planning a drilling campaign with the initial holes designed to investigate the CSIRO model.
This drilling will commence once the heritage surveys are completed.
On the market, Reedy Lagoon was up 2.7 per cent and is trading at 3.8 cents per share at 11:47 am AEDT.