Radar Iron up on Johnston Range potential

WA explorer Radar Iron's shares jumped afgold fine ore propertiester it said an independent review had identified an iron ore area with a target potential above five billion tonnes. The geophysical review covered the company's Johnston Range iron ore project, in central Yilgarn west of Kalgoorlie, the company said.

Perth-based geophysical consultants Resource Potentials found global target exploration potential for iron mineralisation estimated at 5.83 billion tonnes at 20-65 per cent. It also found magnetite target exploration potential of 5.34 billion tonnes at 20-45 per cent. Exploration was still in its early stages however, and the "potential quantity and grade of iron deposits reported as exploration target potential" was "conceptual", the company conceded. "There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource," it said in a statement...