Transit Holdings defines haematite targets at Johnston Range Project, WA September 2, 2010

Transit Holdings (ASX: TRH) advises that fieldwork is continuing at the Johnston Range Project where the Company holds over 200km2 of Exploration Licences which contain a 35km long sequence of multiple banded iron formation (BIF) units.

Highlights:

• Ongoing assessment of magnetite and haematite potential at Johnston Range Project
• 17 Haematite mineralisation targets defined to date

The fieldwork is part of Transit’s Yilgarn Iron Ore Strategy.

Transit Holdings Iron Ore CEO Jonathan Lea said that the Company was committed to fast-track the assessment of the value of its iron ore assets.

“The field work programme has been designed to assess the potential extent of both magnetite and haematite mineralisation,” Mr Lea said.

“Initially we are announcing results collated to date on the haematite potential. However, the on-going field work focused on the magnetite potential will also be reported to the market in coming weeks.”

Click here to view the full announcement.

For further information, please contact:

Richard Monti
Executive Director
rmonti@transitholdings.com.au
Tel: +61 8 9482 0515

Morgan Barron
Company Secretary
mbarron@transitholdings.com.au
Tel: +61 8 9482 0515

Media:
Fortbridge Consulting
Tel: +61 2 9331 0655
Luke Dean
luke.dean@fortbridge.com
Mob: +61 414 535 433