Yerecoin Iron Ore Project – (Giralia 100%)

Giralia's 100% owned Yerecoin project is located 10 kilometres east of New Norcia and 150 kilometres north of Perth, within 1 kilometre of existing rail access.  Outcropping banded iron formations of the Archaean Jimperding Metamorphic Belt occur within the tenement area, and significant extensions beneath laterite cover are inferred from aeromagnetic interpretation.

Banded Iron Formation in the area is strongly deformed and high grade metamorphic in nature. Fresher outcrop shows excellent banded magnetite and coarse silica, which may prove to be amenable to magnetic separation of the iron and silica products.  Exposure is poor and locally there is laterite development on top of the banded iron that may be several metres thick in places.

Reconnaissance mapping and sampling confirms interpreted occurrences of magnetite Banded Iron Formation in the area with a moderately east dipping BIF outcropping over a strike length of approximately 1.5 kilometres.  Strike length under cover could be up to 5 kilometres with possible parallel structures.  Widths may be up to 30-50 metres.

Excellent results were received for Davis Tube metallurgical testwork on a surface rock sample to estimate magnetite recoveries. From head grade of 48.2% Fe 30.6 % Si02, a grade of 70.1 % Fe was recovered with 2.58% Si02. The average weight recovery was 34.4%.