Sheffield Resources doubles Thunderbird Mineral Resource
THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) has released an updated Mineral Resource for the company’s 100 per cent-owned, world-class Thunderbird mineral sands project, near Derby in northern Western Australia.
The Minerals Resource now stands at 3.23 billion tonnes at 6.9 per cent heavy minerals (HM).
The new Mineral Resource was updated to include 110 infill holes drilled in the up-dip region of the deposit and includes a coherent high-grade zone of 1.05 billion tonnes at 12.2 per cent HM at a 7.5 per cent HM cut-off (Measured, Indicated and Inferred).
This high-grade zone contains 9.7 million tonnes of zircon, 3 million tonnes of high-titanium leucoxene and 35 million tonnes of ilmenite.
Of particular note is the Measured category of the Thunderbird Resource, which has been doubled to 220 million tonnes at 14.5 per cent HM (at a 7.5% HM cut-off) with minimal change in the high in-situ zircon and ilmenite grades of 1.07 per cent and 3.9 per cent respectively.
Sheffield declared the Measured component of the Mineral Resource alone places Thunderbird in the top tier of mineral sands deposits globally, including those currently in production.
“The doubling of tonnes in the highest-confidence Measured Resource category is consistent with the company’s strategy of delivering a high-quality BFS,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.
“The updated Mineral Resource provides a robust platform for comprehensive optimisation studies, mine design and detailed scheduling.
“In conjunction with the BFS update released last week, which outlined material improvements in metallurgical performance, it further highlights the significance of the project on a global scale.
“Thunderbird has a projected mine life of over 40 years and is one of the few Western Australian mining projects that enjoys ‘Lead Agency’ status with the Department of Mines and Petroleum.
“The project is commanding significant interest from both producers and consumers alike, due to its long mine life, zircon-rich mineral assemblage, high-quality products, low-risk jurisdiction and exploration upside including the exciting new Night Train discovery.”
Email: info@sheffieldresources.com.au
Website: www.sheffieldresources.com.au