THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) announced a trifecta of discoveries from regional exploration drilling undertaken at the Buckfast, Bohemia and Concorde prospects at the company’s Dampier mineral sands project near Derby in northern Western Australia.
Sheffield Resources claimed the three new discoveries saying they are located between 40km and 55km south of the company’s world class Thunderbird mineral sands project.
The latest results from the drilling include the following broad, high-grade intervals:
46.5 metres at 5.5 per cent heavy minerals (HM) from 57m, including 21m at 9.12 per cent HM from 64.5m;
33m at 4 per cent HM from 61.5m, including 21m at 5.2 per cent HM from 66m; and
37.5m at 5.01 per cent HM from 67.5m, including 25.5m at 5.74 per cent HM from 75m.
43.5m at 2.35 per cent HM from 16.5m, including 10.5m at 4.25 per cent HM from 25.5m.
Sheffield explained these results conclude its 2018 regional exploration drilling program and follow the recently announced discoveries at the zircon-rich Night Train deposit and the Cold Duck, Porphyry Pearl, Cisco and Nomad prospects.
The drilling program targeted additional large, zircon-rich deposits suitable for downstream processing at the Thunderbird Dry Mineral Separation Plant.
Sheffield has now identified fourteen zones of mineralisation along a 160km long highly mineralised trend which extends from Seagull in the north to Runaway in the south.
This includes the Thunderbird deposit which has a Mineral Resource of 3.23 billion tonnes at 6.9 percent HM above a 3 per cent HM cut-off (Measured, Indicated and Inferred), including a high-grade component of 1.05 billion tonnes at 12.2 per cent HM above 7.5 per cent HM cut-off (Measured, Indicated and Inferred).
“The outstanding results received from this year’s regional drilling program have exceeded expectations,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.
“Our recent low-cost exploration program has delivered multiple mineral sands discoveries within a 160km long underexplored and highly fertile region controlled by Sheffield.
“These new discoveries, including the zircon-rich Night Train deposit, are all located in close proximity to the world class Thunderbird deposit, adding to the growing global significance and strategic value of the Dampier Mineral Sands Project.
“As we close in on development of the world class Thunderbird project, we will continue to progress all funding options including ongoing discussions with potential strategic partners.”