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Sheffield Resources Ltd.
Summary
| Project: | Dampier | |
|---|---|---|
| Deposit: | Thunderbird | |
| Location: | Australia | |
| Commodities: | Zircon-Leucoxene-Titanium | |
| Date: | 3/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 16-3-2017: Sheffield Resources Ltd. announces a Resource Estimation report for its Thunderbird deposit at the Dampier project. Updated Ore Reserve Estimate for Thunderbird. Sheffield Resources Limited (“Sheffield” “the Company”) (ASX:SFX) is pleased to an | |
| Resources: | (Reserve, P+P): 680.5Mt @ 11.3% HM at Thunderbird | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Sheffield Resources Limited (“Sheffield” “the Company”) (ASX:SFX) is pleased to announce an updated Ore Reserve for its world-class Thunderbird Mineral Sands Project, near Derby in northern Western Australia. The Ore Reserve forms the basis for the Bankable Feasibility Study (BFS) due for release by the end of this month. The Ore Reserve estimate was prepared by Entech Pty Ltd, an experienced and prominent mining engineering consultancy with appropriate mineral sands experience and is based on the current, July 2016 Thunderbird Mineral Resource estimate, announced to the ASX on 5 July 2016 (Appendix B). Measured and Indicated Mineral Resources were converted to Proved and Probable Ore Reserves respectively, subject to mine designs, modifying factors and economic evaluation. Sheffield’s Managing Director Bruce McFadzean said the large, high grade Ore Reserve demonstrates the global significance of the Thunderbird Project. “In terms of confidence, grade and tonnage, this Ore Reserve ranks amongst the top tier of mineral sands ore reserves in the world, including those associated with operating mines.” “The fact the Project is located in one of the world’s best mining jurisdictions, with proximity to quality infrastructure, further enhances Thunderbird as a world class asset.” “In the early stages of any mine development you need certainty and confidence. With 97% of the first 10 years of production, and more than one-third of the new Ore Reserve in the highest Proved category, this Ore Reserve delivers that confidence.” “Final touches are being made to the BFS which will be released on schedule by the end of this month,” Mr McFadzean concluded. | |
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