Fairstar jumps on WA iron ore discovery

Shares in Fairstar Resources have surged after the explorer announced a new iron ore discovery within its Kurnalpi-Randalls project in the eastern Goldfields.

More to come...

Part of the announcement is below:

Key Points

- New iron discovery at Jurangie Hill tenement at Kurnalpi-Randalls Project in WA's Eastern Goldfields

- Discovery is only 14 km north of Mahendra's Find iron discovery, discovered mid- 2008, and is located only
37km from the Trans Australian railway

- Company believes this discovery has potential similar to Mahendra's Find

- Host Banded Iron Formation (BIF) is highly folded, weathered, and confined to a major syncline (Steeple Hill
Syncline) and due to paucity of rock outcrops to date only a handful of rock chip samples have been collected

- Further rock chip sampling, geological mapping, analysis of airborne magnetic-radiometric data, and on ground
gravity survey for concealed hematite/hematite-goethite resources to be undertaken followed by drill program
and resource estimation