Kogi Iron Limited announce the addition of the Mogul VMS Project, tenement E46/1399, 60km east of Nullagine in Western Australia. The Mogul tenement hosts a cluster of gossans including the Mogul and CEC gossan which were discovered in the 1970's and return highly anomalous Copper results of up to 36% Cu and 11% Zn (WAMEX a6531). Diamond drilling undertaken by Carpentaria Exploration in 1975 return 3.65m @ 3.9 % Cu and 3.12 % Zn from 12.75 -16.4 m and 0.4m @ 4.35 % Cu and 9.45 % Zn from 12 -16m (WAMEX a6531).

A subsequent 8-hole RC drill program by Peninsular Gold beneath the CEC gossan in 1997 returned best copper results of 4m @ 3.11 % Cu and 1.47 % Zn from 12 -16m and best Zinc results of 4m @ 9.52 % Zn from 40-44m (WAMEX a50290). The prospect covers a steeply dipping anticlinal belt of Archean greenstones, metasediments and volcanics, surrounded by younger Archean greywackes, shales, conglomerates, and tuffs. The project is cut by a regional North-South faults with multiple gossans being mapped along the Western strike of the fault.

While assays by previous project operators were limited to inconsistent suites of Cu, Pb, Zn, Au and Ag with no broad multi-element analysis, the tenor of these elements appears to point to a VMS style of mineralisation. The occurrence of multiple gossans being mapped along the strike of the regional North-South fault also points to the potential for multiple clusters of mineralisation, as seen at prominent VMS deposits such as Golden Grove.