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Strike Resources Ltd.
Summary
| Project: | Paulsens East | |
|---|---|---|
| Deposit: | Paulsens East | |
| Location: | Australia | |
| Commodities: | Iron-Silica-Aluminium-Phosphorus-Sulphur | |
| Date: | 9/4/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-9-2019: Strike Resources Ltd. announces a Resource Estimation report for its Paulsens East deposit at the Paulsens East project. Upgraded mineral resource estimate at project. Strike Resources Limited (ASX:SRK) (Strike) is pleased to report that the Mai | |
| Resources: | (Resource, Ind.): 9.6Mt @ 61.1% Fe, 6.0% SiO2, 3.6% Al2O3 | |
| CP/QP: | [Resources]: Philip Jones (Independent) | |
| ABSTRACT: | Strike Resources Limited (ASX:SRK) (Strike) is pleased to report that the Maiden JORC Mineral Resource1 for its Paulsens East Iron Ore Project (Strike:100%) located in the Pilbara, Western Australia has now been upgraded from JORC Inferred to a JORC Indicated Mineral Resource of 9.6 Million tonnes at 61.1 % Fe, 6.0% SiO2 and 3.6% Al2O3. This upgrade is as a result of a programme of surveying and sampling recently completed at the Project, which was undertaken to increase the confidence in the iron ore mineralisation and to enable a detailed mine plan and economic model to be developed. As previously reported, a key feature of the Paulsens East Mineral Resource is an approximately 3 kilometre-long ridge of outcropping hematite conglomerate which extends up to 60 metres above the surrounding terrain (refer Figures 1 and 7). Strike is pleased to report that, as a consequence of the recently completed field programme, the estimate of potential DSO material that may be able to be mined with minimal overburden from the outcropping portion of the ridge has increased by 50%, from 2 million tonnes to 3 million tonnes at 61% Fe. Such an operation could be undertaken relatively simply using shovels and trucks, with the material then to be crushed and screened on site prior to transport by road to a suitable port facility for export. The Indicated Mineral Resource estimate is based upon data derived from two drilling campaigns undertaken by Strike (comprising a total of 66 reverse circulation (RC) holes for 3,537 metres drilled) together with extensive rock chip sampling and recently completed precision drone survey, mapping and sampling programmes. | |
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