Atlas Iron Limited - Announces Two Direct Shipping Ore Discoveries In The Southeast Pilbara

09:25 AEST Oct 20, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.

Perth, Australia (ABN Newswire) - Atlas Iron Limited (ASX: AGO) is pleased to announce excellent results from first pass drilling programmes at its 100% owned Hickman and McCamey's North DSO Projects. The projects are located 40km north of Newman and 40km east of Newman respectively in the southeast Pilbara region of Western Australia. Better results include:

McCamey's North

- 78 metres at 60.5% Fe from 16 metres in JMRC058
- 44 metres at 61.1% Fe from 18 metres in JMRC052
- 30 metres at 60.7% Fe from 14 metres in JMRC026
- 48 metres at 59.3% Fe from 38 metres in JMRC044
- 38 metres at 59.2% Fe from 28 metres in JMRC023

Hickman

- 34 metres at 59.8% Fe from 18 metres in HKRC005
- 22 metres at 59.8% Fe from 32 metres in HKRC006
- 32 metres at 58.4% Fe from 8 metres in HKRC002
- 36 metres at 58.4% Fe from 40 metres in HKRC009

These discoveries are the result of first-pass drilling at both projects. Further drilling will be conducted in the coming months to enable the Company to determine the significance of these exciting new discoveries.

'These results are from the first holes ever drilled on the projects and we are very pleased' commented David Flanagan, Atlas Iron Managing Director. 'Clearly both projects have enormous potential. We've only just started scratching the surface and this further demonstrates the quality of our ground and the potential to discover and deliver new mining centres throughout the Pilbara'.

McCamey's North was acquired through the merger with Warwick Resources Limited in December 2010. Atlas' southeast Pilbara tenements are considered highly prospective for large high quality iron ore deposits.


For the complete Atlas Iron announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63986-ASX-AGO-510329.pdf


About Atlas Iron Limited:

Atlas Iron Limited (ASX:AGO) is mining and exporting from its 100%-owned Pardoo and Wodgina Iron Ore projects, located 75 kilometres and 110km by road from Port Hedland in the Pilbara region of Western Australia. In the 2009/10 financial year Atlas shipped over 1.2 million tonnes of Pardoo Direct Shipping Ore (DSO). Atlas is expanding its production from its Wodgina and Pardoo DSO mines following the commissioning of the Utah Point port facility and is targeting exports at an annualised rate of 6 million tonnes by the end of 2010. When combined with additional export tonnages from its Abydos & Mt Webber DSO Projects, the Company is targeting exports at an annualised rate of 12 million tonnes during 2012.


Contact:

David Flanagan, Managing Director
Andrew Paterson, General Manager Geology
Atlas Iron Limited
Tel: +61-8-9476-7900
http://www.atlasiron.com.au