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Strike Resources Ltd.
Summary
| Project: | Burke | |
|---|---|---|
| Deposit: | Burke | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 11/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-11-2017: Strike Resources Ltd. announces a Resource Estimation report for its Burke deposit at the Burke project. Initial mineral resource estimate confirms high grade. Strike Resources Limited (ASX:SRK) (Strike) is pleased to report a maiden Inferred | |
| Resources: | (Resource Inf.): 6.3Mt @ 16.0% TGC for 1Mt contained at project | |
| CP/QP: | [Resources]: Grant louw (CSA Global Pty Ltd.) | |
| ABSTRACT: | Strike Resources Limited (ASX:SRK) (Strike) is pleased to report a maiden Inferred Mineral Resource for its Burke Graphite Project in Queensland (Project). CSA Global were engaged by Strike to complete a Mineral Resource Estimate (MRE) for the Project1 These grades place the Burke deposit as one of the highest-grade deposits of graphite in the world held by an Australian listed company. Based upon the MRE for the Project referred to above, the following Chart illustrates the TGC grades of published Total JORC Resource/Reserves of selected ASX Listed Graphite Projects relative to the Burke Project. Given the above highly favourable project characteristics and with the minimum size of the deposit now confirmed, Strike is planning to further investigate the commercial options and requirements for developing a mining operation of between 40,000 – 60,000 tpa of graphite concentrate (which is typical of the production profiles being considered by many other ASX listed graphite developers), to be followed thereafter by a scoping study CSA Global Pty Ltd (CSA Global) was engaged by Strike to complete a Mineral Resource Estimate (MRE) for graphite mineralisation at the Project. A total of 9 reverse circulation (RC) holes for 618 metres and 1 diamond hole for 117.2 metres have been drilled and assayed for graphite content at the Project. The MRE is based upon data obtained from these drill holes. The mineralisation wireframe was modelled using a nominal lower cut-off grade of 5% TGC. A total of 99.1 metres of diamond core and 420 metres of RC sampling lie within the interpreted mineralisation zone | |
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