Sheffield extends Thunderbird

/in /by

THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) announced recently-received drilling results from the company’s 100 per cent-owned Thunderbird mineral sands project, located near Derby in northwest Western Australia.

Results of initial assay batches from 37 extension, infill and groundwater monitoring drill holes from the 2014 aircore drilling program have been received, which the company claims to have extended mineralisation in up-dip and down-dip regions of the Thunderbird deposit.

Best results include:

Up-dip Extension

THAC469
30 metres at 8.56 per cent heavy minerals (HM) from 0m, including 21m at 10.9 per cent HM from 0m;

THAC468
33m at 7.74 per cent HM from 0m, including 10.5m at 16 per cent HM from 1.5m; and

THAC465
30m at 7.77 per cent HM from 0m, including 10.5m at 14.3 per cent HM from 0m.

Down-dip Infill & Extension

THAC448
58.5m at 8.33 per cent HM from 58.5m, including 34.5m at 10.5 per cent HM from 60m;

THAC442
52.5m at 8.9 per cent HM from 36m, including 39m at 10.5 per cent HM from 39m; and

THAC445
49.5m at 9.71 per cent HM from 63m, including 42m at 10.9 per cent HM from 69m.

(>3 per cent HM cut-off, including >7.5 per cent HM cut-off).

 

Plan view of Thunderbird deposit 32-year pit shell outline on Mineral
Resource Classifications showing location of recent drill holes. Source:
Company announcement

 

Sheffield said the results from the up-dip drilling had demonstrated continuity of thick, shallow, high-grade mineralisation beyond the current resource envelope.

It declared the results of the down-dip drilling were similar to the up-dip results in that they too extended mineralisation, this time to the southwest while demonstrating a strong continuity of mineralisation within part of the resource currently classified as Inferred.

The company emphasised these drilling results are outside the 32-year life-of-mine (LOM) optimised pit shell, which was used in the April 2014 Scoping Study.

It considers these results may have potential to improve the project’s already impressive economics.

“This is a terrific result, confirming the deposit extends both up-dip and down-dip and remains open,” Sheffield Resources managing director Bruce McQuitty said in the company’s announcement to the Australian Securities Exchange.

“The discovery of additional high-grade mineralisation in the up-dip region is particularly significant because our Scoping Study delivered higher margins in early production years from this region.

“We look forward to further results from recently completed drilling in the remainder of the up-dip region.”

Sheffield said its current Pre-feasibility work is well advanced and is on schedule to be finalised during Q1 2015.

Website: www.sheffieldresources.com.au