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Sheffield Resources Ltd.
Summary
| Project: | Dampier | |
|---|---|---|
| Deposit: | Night Train | |
| Location: | Australia | |
| Commodities: | Zircon-Leucoxene-Titanium | |
| Date: | 1/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 31-1-2019: Sheffield Resources Ltd. announces a Resource Estimation report for its Night Train deposit at the Dampier project. Initial mineral resource estimate for Night Train deposit. Sheffield Resources Limited (“Sheffield”, “the Company”) (ASX: SFX) t | |
| Resources: | (Resource, Inf.): 130.0Mt @ 3.3% THM for 3.6Mt THM contained at Night Train | |
| CP/QP: | [Resources]: Christine Standing (Optiro Pty Ltd.) | |
| ABSTRACT: | Sheffield Resources Limited (“Sheffield”, “the Company”) (ASX: SFX) today announced a maiden Inferred Mineral Resource of 130 million tonnes (Mt) @ 3.3% heavy mineral (HM), above a 1.2% HM cut-off at its 100% owned Night Train Mineral Sands deposit, on the Dampier Project near Derby in northern Western Australia. This includes a high grade component of 50Mt @ 5.9% HM, above a 2.0% HM cut-off. The deposit is located just 20km south of the world class Thunderbird Mineral Sands deposit and 2km from the recently constructed Thunderbird mine access road. Appendices 1 and 2 and Tables 1, 3 and 4 to this announcement include important information with regard to this Mineral Resource estimate, as required under the JORC Code (2012). In addition, a large Exploration Target of between 80Mt to 100Mt at 3.0% to 4.0% HM has been estimated for the region along strike to the north and south, as well as down-dip to the west of the Inferred Mineral Resource boundaries (Figure 4). The potential quantity and grade of the Exploration Target is conceptual in nature, as there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Mineralisation at Night Train is zircon and leucoxene rich, clean and free of coatings, has a high valuable heavy mineral (VHM) component and contains low levels of trash minerals, oversize and slimes. Sheffield’s Managing Director Bruce McFadzean commented, “The delivery of the maiden Night Train Mineral Resource, just 20km from Thunderbird, is further confirmation of the strategic value of our extensive tenement holding in this emerging world class mineral sand province. “We look forward to growing the Company’s Resource Inventory around Thunderbird and building on our recently announced zircon-rich exploration discoveries. Further discoveries have the potential to extend the already substantial 42-year life of the Thunderbird Operations and will provide greater flexibility for future development” | |
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