Winmar scores big results at Hamersley Iron project

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THE DRILL SERGEANT: Winmar Resources has received assay results from the remaining nine holes from the latest phase of drilling at the company’s Hamersley Iron project in the Pilbara region of Western Australia.

Winmar recently completed a 20 hole, 4012 metre RC drilling program at the Hamersley project, which included one diamond pre-collar.

 

Location of significant intercepts from the 2012 drill program. Source: Company announcement

The recently received assay results include a shallow high-grade intercept (from 28 metres) of:

–   74 metres at 59.14 per cent iron (60.47 per cent calcined iron), within a broader Channel Iron Deposit (CID) zone of 102 metres at 56.00 per cent iron (58.33 per cent calcined iron).

“The results of this phase of drilling are designed to deliver a significant Resource upgrade, due later in quarter three, which will be used to provide an updated scoping study and as input for potential mining plans,” Winmar Resources explained in its ASX announcement.

“The majority of holes on the program intersected CID material with the higher grade and thicker zones occurring on the Northern side of the deposit, and 13 holes returned significant intercepts. The project remains open in most directions.”

Winmar said CID intercepts were returned from six of the remaining eight target depth holes.

These included:

–    28m at 57.62 per cent iron (60.21 per cent Calcined iron); and

–    32m at 56.81 per cent iron (60.57 per cent Calcined iron).

According to the company the latest assay results also returned results from overlying detrital material in three of the holes from the southwest portion of the deposit.

These results included:

–    26m at 55.01 per cent iron (56.36 per cent Calcined iron), from 34m.

Winmar has a large diameter Bauer rig due on site in the next week to collect metallurgical samples of the detrital material.

The south western zone of CID and high grade detrital material will be the initial focus of Winmar’s development plans for the deposit.

The company said this may provide an early pathway to production of beneficiated material and Direct Shipping Ore.