Burley’s Cane Bore Drilling Highlights Surface Mineralisation but Resource Still Uncertain

Maiden Drilling Validates Surface Mineralisation

Burley Minerals Limited (ASX – BUR) has delivered its first assay results from the maiden reverse circulation drilling programme at the Cane Bore South Target, part of its 100%-owned Cane Bore Iron Project in Western Australia's Pilbara Province. The programme, completed in late April 2025, comprised 28 drill holes totalling 1,020 metres and tested a substantial 80-hectare area along 2.3 kilometres of strike.

The assay results confirm the presence of Channel Iron Deposit (CID) mineralisation at surface, extending down to around nine metres in the central part of the South Target. Notably, several intercepts returned iron grades exceeding 50% Fe, with the highest grade reaching 54% Fe (62.2% calcined Fe), reinforcing earlier encouraging rock-chip sampling results.

Strategic Location and Geological Context

Cane Bore is strategically located less than 100 kilometres by sealed road from Onslow and the Port of Ashburton, positioning it favourably for future development. The project lies adjacent to the sealed Northwest Coastal Highway, intersecting the Onslow Road, facilitating access and logistics.

The geology is dominated by mid-to-late Miocene CID formations, typical of the Pilbara's world-class iron ore province. These deposits occur as palaeochannel alluvial sediments, with mineralisation hosted in ferruginous sandstone and conglomerate mesa-forms rising over 20 metres above the surrounding terrain.

Next Steps – Expanding Exploration and Heritage Surveys

Burley Minerals is advancing its exploration with a heritage survey scheduled for July 2025 at the North and Step-Out Targets, which together cover more than 290 hectares and extend the CID mineralisation over a five-kilometre strike. Following heritage clearance, the company plans to mobilise a drill rig for a maiden drilling programme at these targets in August, aiming to delineate the depth and extent of mineralisation.

These targets represent a significant expansion beyond the South Target, which itself accounts for less than a quarter of the total permitted exploration area of over 370 hectares. The company has already tested 22% of this area, indicating substantial scope for resource growth.

Commitment to Heritage and Environmental Management

Burley Minerals emphasises its commitment to protecting Aboriginal heritage and minimising environmental impacts. The company holds Heritage Protection Agreements with local Indigenous groups, including the Pinikura People and the Robe River Kuruma Aboriginal Corporation, ensuring exploration activities proceed with cultural sensitivity and regulatory compliance.

Managing Director Stewart McCallion highlighted the encouraging nature of the results, noting the potential for mineralisation at depth and the strategic importance of the larger targets to the northeast. The upcoming heritage surveys and drilling campaigns will be critical in advancing the project towards resource definition.