The Yarraloola Project consists of two Mining Leases under application, six granted Exploration Licences, one Exploration License under application, two granted Prospecting Licenses and two Prospecting Licenses under application with a total area of 1450km2.
The tenements are located 120km southwest of Karratha and are adjacent to the town of Pannawonica which services the Mesa A and Mesa J Iron-ore Mines which are owned and operated by Rio Tinto Ltd are report a combined annual-production of greater than 30 Mtpa. Current infrastructure on the tenements includes:
- A bitumen-sealed road (Northwest Coastal Highway) traverses the western side of the tenements
- A bitumen-sealed road connects to the town of Pannawonica and traverses the southern part of the tenements.
- Station tracks provide access to many parts of the tenements.
- The Dampier-Bunbury gas pipeline traverses the tenements.
Infrastructure being proposed for the tenements includes:
- A haul-road from Iron-Ore Holdings (ASX:IOH) developing mine at Bungaroo South to a new multi-user port at Cape Preston East.
- A proposed railway for the Australian Premium Iron (API) Joint Venture to Anaketell Port.
Geology and Prospectivity
The Yarraloola tenements cover three major geological domains, each of which is prospective for deposits of iron-ore. The iron-ore prospectivity can be summarized as follows.
- Hamersley Basin sediments host magnetite-mineralization in the Marra Mamba, Brockman and Boolgeeda Iron-Formations, along with occurrences of high-grade (+55% Fe) goethite-haematite mineralization. The iron-formations outcrop over a strike length in excess of 50km.
- Ashburton Trough hosts magnetite-bearing schist and chert which have strongly magnetic units outcropping and sub-cropping over an area of 12km by 1km.
- Carnarvon Basin sediments host detrital or riverine (Channel or CID) deposits and these outcrop extensively across the western part of the tenement.
Exploration targets for iron-ore are subdivided into the following.
- DSO – dig and ship, lumpy, high-grade, ore which can be obtained from the goethite-haematite and CID-styles of mineralization.
- BSO – beneficiation-style ore which requires significant amounts of processing after digging to up-grade the ore to export-quality. The most abundant ore-type on the tenements in this category is the magnetite-rich iron-formations in the Hamersley Basin and Ashburton Trough.
Other prospectivity on the Yarraloola tenements includes the following.
- Gold – about 5km north of Pannawonica hosted by basalts in the Hamersley Basin.
- Copper – associated with major faults cutting the Ashburton Trough in the south-western part of the tenement.
Exploration activities and planned work programmes.
Since taking ownership of the Yarraloola Project, Coziron has completed the following.
- Drill-tested some iron-ore targets identified by Creasy Group in the interval between the Marra Mamba Iron Formation and overlying Wittenoom Dolomite. The drilling failed to identify any significant areas of mineralization at the sites tested.
- Mapped and rock-chipped iron-formations more regionally on the tenements. This process has generated four distinct target types for drill-testing. These include:
A) Channel Iron prospects (CID)
B) High-grade haematite-martite prospects (HGO)
C) Magnetite prospects hosted by the Brockman Iron Formation (BRO)
D) Magnetite prospects hosted by schist in the Ashburton Trough (ASH)
- Soil sampled the Cobblers Gold Prospect to the north of Pannawonica where results have produced a coherent anomaly approximately 1km wide over a strike length of 2km that requires follow-up work.
- Rock-chipped veins in the Ashburton Trough near the historical Cu-occurrences in the in the south-west of the tenements with results showing these are richly manganiferous and sometimes anomalous in gold. Follow-up work is required.