McCamey’s North (Atlas 100%) is a significant new DSO project located approximately 45km east of Newman and 3km northeast of BHP Billiton’s Jimblebar mine. The project was granted to Warwick Resources in late 2009.

Despite its relatively unexplored status, Atlas intends to commence exploration at McCamey’s North early in the 2010 field season as a result of some extremely encouraging mapping and rock chip sampling results. On 5 November 2009 Warwick Resources announced the results of initial mapping and surface sampling, which outlined several areas of high grade bedded iron enrichment associated with the Boolgeeda Iron Formation – the uppermost unit of the Hamersley Group. Mapping also identified detrital and CID potential within the project area.

A total of 27 rock chip samples taken by Warwick returned an average grade of 62.7% Fe, with a maximum grade of 65.4% Fe. Four sample traverses identified mineralised widths of up to 188m.

Based on these early results, Atlas considers McCamey’s North to have an exploration target range of 20 to 60 million tonnes at 58% to 64% Fe. There is also potential for further BID mineralisation beneath shallow alluvial cover in the northern half of the project area.

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McCamey's North showing mapped enrichment and recent rock chip assays.