Sheffield commences fully-funded PFS
THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) has kicked off pre-feasibility, drilling and other exploration work having recently raised $11.5 million.
At the Thunderbird Heavy Mineral Sands deposit, PFS work is underway, including: Port and infrastructure studies; Enhancing metallurgical testwork on bulk sample material using full-scale equipment; Zircon opacity tests; and Regional environmental baseline studies.
Planning for this year’s field season at Thunderbird is also well advanced, with resource drilling, groundwater studies and geotechnical drilling expected to commence late in the second quarter of 2014.
At the Mt Vettel iron project an RC drilling program is expected to commence next week, which will target high-grade hematite mineralisation.
Ground moving loop EM surveys (MLTEM) are in progress at the Red Bull nickel-copper project in the Fraser Range.
These surveys are targeting potential bedrock conductors at the Earlobe and Stud prospects.
Previous aircore drilling by Sheffield has identified a nickel anomalism at Stud and Earlobe, including a best intersection of 5m at 0.73 per cent nickel at Stud.
Sheffield explained it is employing the higher-powered MLTEM system which has the ability to ‘look’ deeper, and potentially identify disseminated as well as massive sulphide bodies.
Auger soil sampling and aircore drilling programs are also planned for the Northern Targets at Red Bull during Q2-Q3 2014.
This will be followed by target definition and ranking, ahead of direct testing with deeper RC/diamond drilling.
The company feels it is generating some momentum following the results it achieved from the Thunderbird scoping study and subsequent capital raising.
“The recently completed $11.5 million capital raising has given us impetus to aggressively pursue our feasibility milestones at Thunderbird, targeting first production in 2017,” Sheffield Resources managing director Bruce McQuitty said in the company’s announcement to the Australian Securities Exchange.
“In addition, we are seeking to unlock value from our other prospective assets.
The Mt Vettel iron and Red Bull nickel-copper projects represent outstanding opportunities for Sheffield to add further shareholder value.”
Email: info@sheffieldresources.com.au
Website: www.sheffieldresources.com.au