- Santa Fe Minerals (SFM) wraps up drilling at its Watsons Well vanadium-titanium-iron target in Western Australia
- The company drilled 10 reverse circulation holes to test the thicker central area along the Watsons Well high magnetic zone
- Each of the 10 holes intersected broad zones of strong magnetite, with results expected to be returned within 12 weeks
- Meanwhile, SFM also completed an ultrafine soil sampling program on the Mt Murray base metal project, which had previously been delayed due to unseasonal wet weather
- Santa Fe Minerals last traded at 8.5 cents at 2:41 pm AEDT
Santa Fe Minerals (SFM) has wrapped up drilling at its Watsons Well vanadium-titanium-iron target in Western Australia.
The company drilled 10 reverse circulation holes, for 1492 metres, to test the thicker central area along the Watsons Well high magnetic zone.
Each of the 10 holes intersected broad zones of strong magnetite, which is associated with vanadium, titanium and iron mineralisation.
Strong magnetite downhole intervals in the area ranged from one to two metres, through to 35 metres, with multiple zones in each drillhole.
All samples have been delivered to a laboratory for analysis, with results expected within 12 weeks.
Meanwhile, the company also completed an ultrafine soil sampling program on the Mt Murray base metal project, which had previously been delayed due to unseasonal wet weather and the availability of a field sampling team.
The Mt Murray project covers a nine-kilometre zone of polymetallic copper-lead-zinc-silver-gold mineralisation.
A total of 1221 samples were collected, which will now be processed using an ultrafine fraction technique. These results are also expected to be returned within 12 weeks.
Santa Fe Minerals last traded at 8.5 cents at 2:41 pm AEDT.