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

Published Jul 15, 2020

What happened?


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 Managing Director of Strike Resources Ltd has provided a statement.
William Johnson
William Johnson
Managing Director, Strike Resources Ltd

“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”.

Download Announcement

View this announcement as well as our full profile on the company.

Comments

Share your thoughts about this announcement...

Around the web
Bulk Buys: Baltimore bridge collapse puts spotlight on coal supplies
Coal markets are on watch for the impact of a shocking bridge collapse blocking the Baltimore port...
via stockhead.com.au
Bulk Buys: BHP lauds cost control as iron ore prices wobble and African supply rush looms
Iron ore prices briefly dipped below US$100/t last week as weak steel fundamentals bite in China B...
via stockhead.com.au
These cashed up juniors are ready for the next move
Amid a tight market to raise cash for new mining and exploration projects, these ASX explorers are s...
via stockhead.com.au
Powered by  
  • Code
    ASX:SRK
View Strike Resources Ltd's Profile

How do I invest?

Considering investing in Strike Resources Ltd?
Here's how to get started.
Low Cost Brokerage ASX Cheapest ASX Trading Platform
  1. 1

    Create account

    Open an account with an online broker of your choice. If you do not have an existing broker, consider Mawson Graham's A$9.50 flat fee platform.

    Sign up now »
  2. 2

    Search for ASX:SRK

    On your online investment platform search for the stock ticker code ASX:SRK to bring up the company's shares.

  3. 3

    Buy shares

    Place your order however you wish. If you need advice on buying or selling, you should seek the assistance of a full service financial adviser experienced in small cap equities.

Up