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Significant Initial Assay Results received from Hillside

ID: 1551603
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- Anomalous Gold found in rock chips from newly discovered quartz veins with same orientation as nearby historic gold mine;
- Significant base metal grades returned from outcropping cupiferous gossan including the following:
- HS008: 0.185ppm Au, 37.8ppm Ag, 0.46% Zn, 6.36% Cu; and
- Drill targets identified with drilling to commence as soon as possible.

Fe Limited (ASX: FEL) (FEL or the Company) recently entered into an earn in agreement with Macarthur Minerals Limited (Macarthur) in respect of 18 tenements in the Pilbara ranging from south of Nullagine to north of Pilgangoora. The tenure is prospective for lithium, gold, copper, base metals and iron ore with many known deposits within and around the tenure and the eastern Pilbara in general.

Samples from the recent reconnaissance trip were submitted to the lab during the first week of August with a rush order specifically for samples from the Hillside tenement group (Hillside Project). Three of the assays received so far have returned strongly anomalous grades for base metals and gold from three different locations, refer table 2 for all results (table 1 shows sample locations). The base metals result from the gossan outcrop shows similar copper grades to a historical rock chip from a gossan outcrop directly south along strike approximately 6km away. Both outcrops lie within a strong magnetic anomaly identified in a heliborne electromagnetic survey conducted by Macarthur during 2018 (refer figure 1). This gossan will be a high priority drill target in the coming months.

The Company is currently planning field work in the near future including detailed mapping and further chip sampling of the Hillside Project. Preliminary planning for initial drilling is underway with the arrangement of heritage works (if required) and earthworks for logistical and access requirements. Final drill sites will be determined following detailed mapping and ground truthing of targets already identified from desktop aerial mapping that is also underway.

Figure 1 - Hillside Sample Locations over TMI - Hillside Initial Assay Results (220819)PRcom.001.jpeg

Table 1 - Sample Locations

Sample Latitude LongitudeDesctiption Target

HS001 21°49''55119°39''10Quartz vein rock Au, Cu (other
.83"S .06"E chip in situ base

HS002 21°49''55119°39''10qtz vein within Au, Cu (other
.83"S .06"E weathered base
schist metals?)

HS003 21°49''16119°40''48Qtz scree from Au, Cu (other
.33"S .36"E stream base
bed metals?)

HS004 21°48''7.119°39''43Stream bed float Au, base metals
82"S .91"E

HS005 21°48''11119°39''51stream bed rock Au, base metals
.27"S .32"E chip

HS006 21°47''30119°39''45Qtz samples Au,Cu
.15"S .89"E

HS007 21°47''29119°39''50Oxidised qtz reef Au, base metals
.89"S .00"E

HS008 21°45''4.119°39''52Gossan with Au, base metals
92"S .07"E malachite

HS009 21°41''5.119°39''25Qtz reef Au, multi
57"S .53"E

HS010 21°44''3.119°40''41Qtz reef Au, multi
30"S .79"E

HS011 21°44''3.119°40''44Quartz reef Au, Multi
50"S .86"E

Table 2 - Assay results

Rock Chip Assay Results
22 2


ppm ppm ppm ppm ppm % ppm %
HS001 0.008 0.04 21.8 344 1 0.07 63
HS002 0.002 <0.01 1.1 71.3 1.5 <0.01 25
HS003 0.002 0.01 1.3 29 <0.5 <0.01 49
HS004 0.002 0.05 10.7 325 1.5 <0.01 151
HS005 0.005 0.04 1.5 150 0.9 0.01 41
HS006 0.001 <0.01 0.8 6.9 <0.5 <0.01 2
HS007 0.001 0.03 3.1 354 0.6 0.05 623
HS008 0.185 37.8 378 215 254 0.23 4580 6.36
HS009 0.002 0.01 3.1 9.4 <0.5 <0.01 15
HS010 0.024 0.09 10.4 81.3 <0.5 <0.01 19
HS011 0.224 0.17 9.4 94 0.5 <0.01 49

Yours faithfully

Tony Sage
Non-Executive Chairman



The information in this presentation that relates to Exploration Results is based on information compiled by Mr Olaf Frederickson. Mr Frederickson is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Frederickson is a consultant to Fe Limited and consents to the inclusion in the report of the Exploration Results in the form and context in which they appear.

Fe Limited is an Australian domiciled mineral resources exploration and development company.

32 Harrogate St, West Leederville
Western Australia 6007 Australia
Telephone +61 8 6181 9793
Email ir(at)

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Date: 08/22/2019 - 13:07
Language: English
News-ID 1551603
Character count: 2417
Firma: FE Limited
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Stadt: Wien


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