Burley Minerals Hits 52.7% Iron From 8m at Cane Bore Near Mineral Resources Mines
Key Takeaways
- Burley's headline intercept at Cane Bore is 7.0m at 52.7% Fe (59.4% calcined Fe) from 8m in CBRC064, from a maiden programme of 59 holes for 1,009m.
- Assays at a 47% Fe cut-off show a weighted average of 50.6% Fe and 57.1% calcined Fe, with average Al2O3 of 4.2% and SiO2 of 10.0%.
- The North and Step-Out Targets are contiguous, covering more than 290 hectares over more than 5km of strike, and mineralisation remains open to the south-west and north-east.
- No Mineral Resource has been estimated, so the milestones to watch are nine approved diamond metallurgy holes and an infill drilling Program of Works that may be approved next quarter.
- The project sits less than 30km from the sealed Onslow Road and within 50km of Mineral Resources' Ken's Bore and Upper Cane mines, which Burley says likely offers a capital and operating cost advantage.
Cane Bore assays confirm shallow CID iron mineralisation across North and Step-Out Targets
Assays from the maiden reverse circulation (RC) drilling programme at the 100%-owned Cane Bore Iron Project have confirmed Channel Iron Deposit (CID) mineralisation across the North and Step-Out Targets. Burley Minerals drilled 59 holes for 1,009m, and the headline intercept was 7.0m at 52.7% Fe (59.4% calcined Fe) from 8m in hole CBRC064.
The announcement says CID mineralisation remains open to the south-west (SW) and north-east (NE). The results also support earlier South Target results (ASX announcement of 30 June 2025).
Shallow, consistent grades across a large footprint matter because they point to ground worth evaluating further. The company says the current drill spacing is not sufficient for Mineral Resource estimation, so this is exploration data, not a resource.
Stewart McCallion, Managing Director and CEO
“The assay results from the maiden drilling programme at Cane Bore’s North and Step-Out Targets are very encouraging. There is consistent CID iron mineralisation throughout the area, aligning with earlier rock-chip sampling and with what was revealed at the South Target…”
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Drilling results at a glance
Significant intercepts
The table below lists the significant intercepts reported in the highlights. Calcined Fe is a calculated figure, not a measured one.
| Hole ID | From (m) | Width (m) | Fe % | Calcined Fe % |
|---|---|---|---|---|
| CBRC064 | 8 | 7.0 | 52.7 | 59.4 |
| CBRC082 | 2 | 6.0 | 51.2 | 58.0 |
| CBRC059 | 2 | 5.0 | 52.0 | 57.6 |
| CBRC053 | 3 | 8.0 | 50.0 | 56.4 |
| CBRC034 | 3 | 3.0 | 49.5 | 55.0 |
| CBRC046 | Surface | 4.0 | 49.0 | 55.4 |
| CBRC052 | 13 | 3.0 | 50.9 | 57.5 |
| CBRC074 | 5 | 2.0 | 52.5 | 59.5 |
| CBRC087 | 5 | 3.0 | 51.3 | 58.0 |
CBRC046 starts from surface, which tells you the mineralisation can sit right at ground level. CBRC052 starts deeper, at 13m.
The overall assay summary, reported at a 47% Fe cut-off grade, shows:
- Maximum Fe of 55.9%
- Weighted average Fe of 50.6%
- Average calcined Fe of 57.1%
- Average Al2O3 of 4.2%
- Average SiO2 of 10.0%
Programme scope
The programme details give a sense of how much ground was tested:
- Drilling was completed in August and included most of the approved Programme of Work RC drilling.
- It covered an area of approximately 200 hectares.
- Holes were generally 10m to 20m deep, with several drilled to 30m.
- 348 samples were assayed at ALS Laboratories in Wangara.
- Assays indicate mineralisation zones extending to approximately 15m, with intercalated layers of lower grade material, typical of CID systems.
What is a Channel Iron Deposit and why does location matter?
Channel Iron Deposits are alluvial deposits associated with palaeo-drainage systems, meaning ancient river systems. According to the announcement, they are eroded iron-rich fragments deposited in river channels, with clasts typically composed of goethite and hematite. Where they outcrop, they can form topographically inverted ridges, and the North and Step-Out Targets form a mesa-form ridge.
Location matters because distance to infrastructure can influence costs. The company says the proximity to the sealed Onslow Road is “likely providing a significant advantage in terms of capital and operating costs.” That is the company’s view, not a proven outcome.
Key scale and location facts include:
- The North and Step-Out Targets are contiguous, with a combined area of more than 290 hectares over more than 5km of strike.
- More than 800 hectares of surface mineralisation were mapped and sampled over more than 18km of strike, with 126 rock chip samples collected.
- The targets are less than 30km from the sealed Onslow Road, about 90km from there to the Port of Ashburton, and within 50km of Ken’s Bore and Upper Cane mines, currently being mined by Mineral Resources Ltd.
Burley also holds newly granted adjacent licence E08/3755, which the company says has potential for resource extension to the north-east of the CID identified within E08/3424.
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What are the next steps: approvals, diamond drilling and infill?
The company outlined the following next steps:
- Planning is underway for diamond drilling for metallurgy, with approval received for nine (9) diamond holes proposed to be “twinned” adjacent to existing RC holes.
- Approval for the infill drilling programme is pending.
- Heritage surveys will be required for infill drilling, and Burley will formally request them next quarter.
- About 30 RC holes remain in the approved Program of Works (PoW).
Burley has submitted a Reserve Activity Management Plan to the Department of Biodiversity Conservation and Attractions. Once approved, it must seek drilling approval from the Department of Mines Petroleum and Exploration through a PoW application, and an approved PoW may be expected next quarter.
The stated purpose of infill drilling is to improve resource confidence. For you as an investor, the key point is that no Mineral Resource has been estimated for Cane Bore, so approvals and further drilling are the milestones to watch.
Burley holds Heritage Protection Agreements with the Buurabalayji Thalanyji People, the Puutu Kunti Kurrama People and Pinikura People #1 and #2, and The Robe River Kuruma Aboriginal Corporation. The company’s portfolio also includes the Broad Flat Well Iron Project and the Chubb Lithium Project.
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