THE BOURSE WHISPERER: Sheffield Resources (ASX:SFX) announced to the Pilbara iron ore mining community it is prepared to participate in resource consolidation to get its ore to market.
“The junior iron ore players in the Eastern Pilbara recognise the need to consolidate resources to achieve infrastructure solutions,” Sheffield Resources managing director Bruce McQuitty said in the company’s announcement to the Australian Securities Exchange.
“Our team has a proven track record in iron ore exploration in the region, and with a growing portfolio of prospective tenements, Sheffield is well placed to participate in the consolidation process.”
McQuitty’s statement follows recent mapping and sampling undertaken by Sheffield’s geologists, which has outlined five new zones of high-grade iron mineralisation and increased the mineralised area at three previously identified prospects.
The discoveries follow the company recently being granted three exploration licences in the North Pilbara and a ballot outcome for exploration licence application E47/2594 in, what the company described to be – the highly prospective and competitive iron ore district to the north of Newman.
Sheffield’s Pilbara iron projects. Source: Company announcement
Four of the new mineralised zones are on Sheffield’s Three Pools and Eagle Pool projects where the company has previously outlined an Exploration Target of 20 to 60 million tonnes at 56 to 60 per cent iron.
These projects are adjacent to Brockman Mining’s (ASX: BCK) Pallas and Castor deposits.
In the North Pilbara, Sheffield has identified zones of iron enrichment at the Panorama and Dead Bullock projects, which are located close to Atlas Iron’s (ASX: AGO) Abydos and Mt Webber mine camps and within potential trucking distance to Port Hedland.