PERTH (miningweekly.com) – Iron-ore hopeful Strike Resources has reported a maiden Joint Ore Reserves Committee- (Jorc-) compliant resource of 9.1-million tonnes, at 63.4% iron, at its Paulsens East iron-ore project, in the Pilbara.
The ASX-listed company told shareholders that the mineral resource estimated a near 3-km-long ridge of outcropping hematite conglomerate which extends up to 60 m above the surrounding terrain, which is estimated to contain some two-million tonnes of the high-grade potential direct shipping ore (DSO) material that could be mined with minimal overburden.
“This maiden Jorc inferred mineral resource for Paulsens East confirms the presence of a well-located significant occurrence of the high-grade potentially DSO ore,” said Strike MD William Johnson.
“We believe we can fast-track this asset to development in the next six to nine months, and generate potential significant cash flow in this strong iron-ore price environment.
“At the same time, Strike is also closely looking at ways to generate some additional near-term cash flow and value from its iron-ore assets in Peru, and will update the market on this in due course.”