Strike Resources Ltd - High-Grade Rock Chip Samples Confirm Resource Upside Potential
Strike Resources Ltd (ASX:SRK)

High-Grade Rock Chip Samples Confirm Resource Upside Potential

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Highlights

What's happened?

Strike Resources Ltd (ASX:SRK) have released the results of recent field work which confirms the extension of high grade iron ore mineralisation along strike to its existing Paulsens East Iron Ore deposit (containing a JORC Indicated Mineral Resource of 9.6Mt at 61.1% Fe.)

What are the key highlights?

  1. Multiple high grade rock chip results ranging from 64.4% - 66.2% Fe from sampled iron ore outcrops occurring over a length of approximately 300 metres, extending from the southeast tenement boundary towards the eastern edge of the hematite ridge
  2. These results strengthen Strike’s confidence that the existing iron ore mineralisation the subject of the current JORC Indicated Resource continues below cover for a further 1.6 kilometres from the eastern edge of the outcropping hematite ridge towards the southeast.

file

For further information, please refer to the announcement linked below.

Managing Director's Summary

William Johnson

“The recent Revised Scoping Study undertaken by the Company confirms that Paulsens East has the potential to be a very attractive project over an initial four-year mine life, targeting in the first instance six million tonnes of easily accessible outcropping and shallow iron ore at the ridge. In addition, there is a further three million tonnes of JORC Indicated Mineral Resource at depth, which may be mined should market conditions remain favourable and which would allow for an extended mine life. The potential for a significant extension of high-grade iron ore mineralisation along strike to the south east offers additional opportunity to enhance the Project value. The Company is continuing to advance the development of Paulsens East towards development, with native title and mining licence applications and off-take discussions progressing well”.

William Johnson
Managing Director, Strike Resources Ltd
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