What Did the Maiden Drilling Show at the Cane Bore Iron Ore Project for Burley Minerals (ASX:BUR)?

Sonal Goyal

09 October 2026 12:05 AM AEDT

What Did the Maiden Drilling Show at the Cane Bore Iron Ore Project for Burley Minerals (ASX:BUR)?

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Channel iron deposits are shallow, flat-lying iron ore bodies that are typically assessed with short reverse circulation holes. Burley Minerals Ltd (ASX:BUR) reported assays from its maiden RC program at the Cane Bore Iron Ore Project on 6 October 2026.

Company overview

Burley Minerals Ltd (ASX:BUR) is a West Perth-based explorer that owns 100% of the Cane Bore Iron Ore Project near Onslow in Western Australia. The targets are less than 30 kilometres from the sealed Onslow Road and about 90 kilometres from the Port of Ashburton.

Assay results

The maiden program comprised 59 RC holes for 1,009 metres over about 200 hectares across the North and Step-Out Targets, drilled to depths generally of 10 to 20 metres, with some to 30 metres. Assays indicate shallow, consistent iron mineralisation with intercalated horizontal clay layers typical of channel iron deposit (CID) systems. Intercepts included 7 metres at 52.7% Fe (59.4% calcined Fe) from 8 metres in CBRC064, 6 metres at 51.2% Fe from 2 metres in CBRC082, and 8 metres at 50.0% Fe from 3 metres in CBRC053. Mineralisation is open to the south-west and north-east.

The results support earlier South Target results reported on 30 June 2025.

Next steps

Burley is planning diamond drilling for metallurgy, approval for an infill drilling program is pending, and requests for additional heritage surveys are in progress.

Sector backdrop

The Pilbara and Onslow region is established iron ore territory, and proximity to roads and ports affects transport costs. Iron grade is only one measure; CID products are also assessed for silica, alumina and phosphorus.

Risks shareholders should weigh

The intercepts are short, shallow RC results and no Mineral Resource is stated. Grades of about 49% to 53% Fe are lower than high-grade hematite benchmarks, so product specifications and metallurgy matter.

The infill program awaits approval, and heritage survey requests are in progress, so timing may change.

Iron ore prices and funding for further work affect progress.

What’s next

Burley is planning diamond drilling for metallurgical testwork and awaiting infill drilling approval. Shareholders may wish to watch for approvals and metallurgical results.

FAQs

Q: How many holes were drilled at Cane Bore?

A:59 RC holes for 1,009 metres.

Q: What type of deposit is targeted?

A:A channel iron deposit (CID).

Q: What is next?

A:Diamond drilling for metallurgy, infill drilling approval and additional heritage surveys.

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