Winmar intersects high-grade iron at Hamersley

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THE DRILL SERGEANT: Iron ore exploration company Winmar Resources announced Monday, July 16th that it has intersected high grade iron mineralisation from assay results from its latest phase of drilling at the Hamersley Iron project in the Pilbara region of Western Australia.

The Hamersley project is located in the Tom Price Region of the Pilbara, in close proximity to Fortescue Metal’s Solomon project and Rio Tinto’s Marandoo and Brockman mines.

Winmar completed a 20 hole, 4012m RC drill program and results from the first 11 drill holes have been received with significant intercepts intersected in seven of these holes, with higher grade and thicker zones in the northern part of the deposit.

CID mineralisation was intersected in new drill holes up to 800 metres from the current resource, with the project remaining open in most directions.

High grade intercepts include;

  • 28 metres at 57.03 per cent iron (60.63 per cent calcined iron) in PLRC0145
  • mineralised Channel Intersections Deposits (CID) zones of up to 90 metres at 51.63 per cent iron (55.98 per cent calcined iron) in PLRC0154 on the northern extent of drilling

 

Location of 2010-11 drill holes showing strongest iron grade and thickness. Source: Company announcement

A diamond drilling program has commenced to provide metallurgical samples from the CID material.

Assay results from the remaining nine holes will be released in due course.

“This phase of drilling is designed to deliver a significant resource upgrade, due in the third quarter, which will be used to provide an updated scoping study and in mining plans,” the company explained in its release to the Australian Securities Exchange.

The project’s current JORC Inferred Resource is 241.6 million tonnes at 54.3 per cent iron (which includes a main CID zone of 169.1 million tonnes at 55.6 per cent iron) and an Exploration Target of 350-400 million tonnes at 54-56 per cent iron.