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Sheffield Resources Makes New Discoveries South of Thunderbird

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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:

BUCKFAST

NLAC025
46.5 metres at 5.5 per cent heavy minerals (HM) from 57m, including 21m at 9.12 per cent HM from 64.5m;

NLAC023
33m at 4 per cent HM from 61.5m, including 21m at 5.2 per cent HM from 66m; and

NLAC027
37.5m at 5.01 per cent HM from 67.5m, including 25.5m at 5.74 per cent HM from 75m.

BOHEMIA

NLAC018
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.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Sheffield Resources Signs Thunderbird Native Title Agreement

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THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) signed a Native Title Agreement with Traditional Owners regarding the company’s Thunderbird mineral sands project in Western Australia.

Sheffield Resources signed the agreement at an Authorisation Meeting in Broome with the Traditional Owners for the Mt Jowlaenga Polygon #2 Native Title Claimant Application who authorised the Named Applicants to sign the Co-existence Agreement for the Thunderbird project.

The Agreement was negotiated between the Traditional Owner Negotiation Committee (TONC) and Sheffield during July and August 2018.

The signing of the Agreement by the Named Applicants makes the Agreement binding on both Sheffield and the Traditional Owners.

The details of the Agreement are confidential and commercial in nature; however, Sheffield explained the final agreement is in line with the Sheffield Pledge to the Community and contains royalty payments to Traditional Owners, local and Aboriginal employment and business commitments and strong protection for Aboriginal heritage and the environment.

The execution of the agreement will trigger obligations on the company, including cash and equity-based payments following agreement execution and future project milestones, which are payable to the nominated Trustee.

The agreement establishes a framework by which Sheffield can work with the Traditional Owners to protect Aboriginal heritage and the environment and deliver sustainable employment and business outcomes for Traditional Owners and the wider Aboriginal community.

The agreement requires the establishment of an Implementation Committee and the appointment of an Implementation Officer to work with the Company to ensure these outcomes.

“The signing of the agreement will be a fantastic outcome for the Traditional Owners and the wider Aboriginal communities for many decades to come,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“We can now all work together and provide long term employment and business opportunities for everyone.

“Additionally, the signing of the agreement means an Implementation Committee can be established and the company can continue to grow a meaningful, long term relationship with the Traditional Owners by working with that Committee throughout the life of the project.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Sheffield Resources Claims New Minerals Sands Discoveries

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THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) announced drilling results from regional exploration drilling at the Cold Duck, Porphyry Pearl, Cisco and Nomad prospects at the company’s Dampier mineral sands project near Derby in northern Western Australia.

Sheffield Resources explained the Cold Duck, Porphyry Pearl and Cisco prospects to be new discoveries located within 15 kilometres of the company’s world class Thunderbird deposit and near current project infrastructure.

A further prospect, Nomad, which was first drilled in 2015, is located within 5km of the proposed haul road and just 700 metres north of the Great Northern Highway.

These results follow results Sheffield recently released results from the Night Train deposit and relate to 94 aircore drill holes completed in September 2018.

The drilling is part of an extensive regional exploration program that has Sheffield targeting additional large, zircon rich deposits suitable for downstream processing at the Thunderbird project dry mineral separation plant.

Results include:

Cold Duck

DAAC131
37.5 metres at 3.56 per cent heavy minerals (HM) from 1.5m, including 16.5m at 5.49 per cent HM from 21m;

Porphyry Pearl

DAAC141
19.5m at 2.93 per cent HM from 19.5m, including 6m at 5.8 per cent HM from 21m;

Cisco

DAAC149
34.5m at 2.64 per cent HM from 58.5m, including 12m at 3.74 per cent HM from 81m; and

Nomad

DAAC119
7.5m at 5.78 per cent HM from 19.5m, including 6m at 6.94 per cent HM from 19.5m.

Sheffield Resources has now identified eight zones of mineralisation, including Thunderbird and Night Train, along a 100km long highly mineralised trend situated north of the highway and extending from Seagull in the north to Nomad in the south.

The company anticipates receiving remaining drill results from a regional exploration program at Concorde and Buckfast, located south of the highway in the coming weeks.

“The new discoveries along with the zircon-rich Night Train deposit, all located in close proximity to the company’s world class Thunderbird deposit clearly demonstrate the global significance and strategic value of Sheffield’s Dampier Mineral Sands Project,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“These discoveries add to an already exciting time for shareholders as we move forward with the development of Thunderbird, continue to progress our Night Train discovery and unlock the exploration upside of the Canning Basin mineral sands province.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Sheffield Resources Confirms Night Train HM Discovery

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THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) announced results from exploration drilling undertaken at the Night Train prospect at the company’s Dampier mineral sands project near Derby in northern Western Australia.

Night Train is located 20km southeast of Sheffield Resources’ world-class Thunderbird deposit, which forms part of the Dampier project.

Sheffield completed 23 aircore drill holes completed in September as part of an extensive regional exploration drilling program targeting additional large, zircon rich deposits suitable for downstream processing at the Thunderbird Dry Mineral Separation Plant.

Results include:

DAAC114
27 metres at 5.29 per cent HM from 49.5m, including 22.5m at 6.17 per cent HM from 52.5m;

DAAC147
7.5m at 6.46 per cent HM from 27m, including 4.5m at 9.7 per cent HM from 28.5m;

DAAC102
12m at 4.54 per cent HM from 18m, including 7.5m at 6.15 per cent HM from 19.5m; and

DAAC101
6m at 8.92 per cent HM from 12m.

Sheffield said the latest results had extended the broad, high-grade mineralised intervals at Night Train it had previously identified by a single drill traverse.

At one per cent heavy mineral (HM) cut-off the mineralisation has a strike length of over 4.5 kilometres and a width of up to 1.5km.

Within this is a coherent high-grade zone (at 3% HM cutoff) of up to 22.5m thick (average 7.5m).

Sheffield has, to date, outlined the high-grade zone over an area of 4.5 square kilometres that is open along strike and down dip.

The mineralisation thickens to the south-southwest where it again remains open.

Sheffield indicated it would undertake further mineral assemblage testwork ahead of a maiden Mineral Resource estimate, scheduled for completion in Q1 2019.

“The discovery of additional high grade mineralisation containing high-quality zircon in close proximity to Thunderbird is particularly significant because it has potential to contribute to further growth and product flexibility,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“This discovery is further proof that the Canning Basin is emerging as Australia’s next major mineral sands province.

“Our recent regional drilling program was extensive and there are many more results to follow.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Sheffield Resources Signs Native Title Co-Existence Agreement

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THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) signed a Co-existence Agreement (Agreement) in relation to the company’s Thunderbird mineral sands project in northern Western Australia.

Sheffield Resources said the signing follows its recent signing of an in principle and non-binding term sheet with the Traditional Owner Negotiation Committee (TONC) that represents the Mount Jowlaenga Polygon #2 claimant group (Traditional Owners).

Sheffield has worked closely with the TONC and its advisors to formalise the terms of the agreement, which has now been executed and delivered to the Traditional Owners.

This allows the Kimberley Land Council (KLC) to proceed with an Authorisation Meeting, which involves a meeting with a wider group of Traditional Owners to consider authorising the Named Applicants to execute the Agreement.

Sheffield explained that the Authorisation Meeting represents the final step in this process and is currently expected to take place in late October or early November 2018.

“We commend all parties for their efforts in finalising the terms negotiated with the TONC in a timely and conciliatory manner,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“The signing of the Agreement is now binding on Sheffield and provides certainty to the wider group of Traditional Owners in the period leading to the Authorisation Meeting.”

Sheffield indicated it aims to continue to work closely with communities throughout the Kimberley on employment and business opportunities as part of its commitment to the development of Thunderbird.

McFadzean said the company was focussed on its licence to operate with Traditional Owners and the wider Kimberley community and looked forward to working alongside them as the project moves into development.

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Sheffield Resources Receives Favourable Native Title Decision

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THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) received a favourable ruling from the National Native Title Tribunal (NNTT) process for the company’s Thunderbird mineral sands project in the Kimberley region of Western Australia.

Sheffield Resources reported that the NNTT reconsidered the test of good faith, as directed by the Full Federal Court in December 2017, and determined that Sheffield acted in good faith in its negotiations with the Traditional Owners, the Mount Jowlaenga Polygon #2 claimant group.

As a result, the Full Federal Court can now lift the stay on the determination made by the NNTT on 14 June 2017, and the WA Department of Mines, Industry Regulation and Safety can now finalise the grant of the Mining Lease 04/459 for the Thunderbird project, in accordance with standard processes.

Independent of, and in parallel to the NNTT process, Sheffield recently announced agreement of nonbinding and indicative key terms with the Traditional Owners, as a basis for a future Native Title Agreement in relation to Thunderbird.

The company indicated that, following the NNTT determination, it remains committed to concluding a Native Title Agreement in collaboration with Traditional Owners by mid Q4 2018.

“We are pleased with the positive determination made by the National Native Title Tribunal,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“We have received overwhelming support from local communities and Local, State and Federal Governments for the development of Thunderbird.

“It is a world-class, multi-decade project that will create hundreds of local jobs, generate substantial business opportunities and support economic development in the Kimberley.

“We are also very pleased with the collaborative efforts made by both parties in agreeing non-binding and indicative terms ahead of formalisation and authorisation of an Agreement.

“We look forward to working closely with the Traditional Owners and local communities on employment and business opportunities as part of our commitment to the development of Thunderbird.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Thunderbird Zircon Offtake Done: Ilmenite 50 per cent Complete

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THE INSIDE STORY: Sheffield Resources (ASX: SFX) is progressing development of the company’s 100 per cent-owned, Thunderbird mineral sands project, located in north-west Western Australia.

Sheffield Resources is nearing the finishing line of the developmental process at the Thunderbird project, so it can start the next phase, including construction, commissioning, mining and production of zircon and ilmenite related products.

Thunderbird is one of the largest and highest grade mineral sands discoveries in the last 30 years hosting Mineral Resources of 3.23 billion tonnes at 6.9 per cent heavy minerals (HM) (Measured, Indicated and Inferred at 3% HM cut-off).

The Resources includes 18.6 million tonnes of zircon, 5.9 million tonnes of high-titanium leucoxene, 6.5 million tonnes of leucoxene and 61.7 million tonnes of ilmenite as well as a coherent and minable high-grade zone (at 7.5% HM cut-off) of 1,050 million tonnes at 12.2 per cent HM (Measured, Indicated and Inferred) containing 9.7 million tonnes of zircon, 3 million tonnes of high-titanium leucoxene, 2.7 million tonnes of leucoxene and 35 million tonnes of ilmenite.

The high in-situ valuable heavy mineral (VHM) grades for this zone of 0.93 per cent zircon, 0.28 per cent high-titanium leucoxene, 0.26 per cent leucoxene and 3.3 per cent ilmenite places Thunderbird within the top tier of global heavy minerals sands (HMS) deposits.

Sheffield’s Bankable Feasibility Study determined Thunderbird as being a technically minimal risk, modest capex project that will generate strong cash margins from world-class levels of production over its currently forecast exceptionally long mine life of 42 years.

While progress has been made at Thunderbird, Sheffield has also generated two new zircon rich projects located in the Canning Basin of Western Australia and the Eucla Basin of South Australia.

The company’s portfolio of HMS exploration projects now comprises the Dampier and Central Canning projects, located in the Canning Basin of Western Australia, the Eneabba and McCalls projects located in the North Perth Basin of Western Australia, and the Barton project located in the Eucla Basin of South Australia.

Sheffield has outlined an exploration strategy focussed on targeting additional large, high value, zircon rich deposits suitable for downstream processing at the Thunderbird Dry Mineral Separation Plant (MSP).

To that end, Sheffield has resolved to actively pursue and evaluate new mineral sands opportunities in Australia and overseas, with a focus on zircon rich deposits.

“We have commenced new drilling programs at the Thunderbird project with the expectation of establishing new Resources,” Sheffield Resources managing director Bruce Mc Fadzean told The Resources Roadhouse.

“Any increase on Resources or Reserves at Thunderbird could result in pushing the current mine life expectancy out well beyond 50 years.”

Once in production, Thunderbird will generate a high-quality suite of mineral sands products with specifications suited to market requirements.

These products include premium zircon suitable for the ceramic sector and low temperature roast (LTR) Ilmenite, one of the highest-grade sulfate feedstocks available globally and the product is also suitable for use within the high growth chloride slag market.

Sheffield recently announced the signing of a binding zircon offtake agreement with Qingyuan Jinsheng ZR & TI Resources Co. Ltd, for the minimum annual supply of 9,000 tonnes of premium zircon.

The agreement followed an earlier rush of customers signing on for binding offtake agreements that included:

CFM Minerales s.a for minimum annual supply of 4,000 tonnes of premium zircon;

Hainan Wensheng High-Tech Materials Company Limited for a minimum annual supply of 27,000 tonnes of zircon concentrate; and

Nanjing Rzisources International Trading Co Ltd for a minimum annual supply of 15,000 tonnes of premium zircon and 23,000 tonnes of zircon concentrate.

The offtake combination means 100 per cent of both zircon concentrate and premium zircon for Stage 1 of Thunderbird has now been secured under binding agreements.

Sheffield recently secured a maiden binding ilmenite offtake agreement for the future sale of LTR ilmenite from its Thunderbird deposit.

The Agreement, signed with Bengbu Zhongheng New Materials S&T Co., Ltd (Bengbu), is based on a five-year minimum annual supply of 150,000 tonnes of LTR ilmenite. This represents approximately 50 per cent of the estimated total volume of LTR ilmenite to be produced from Stage 1 of Thunderbird

“The Thunderbird LTR ilmenite is a premium feedstock for the sulfate pigment industry, however this agreement clearly shows we are able to also target the high growth chloride slag market,” McFadzean said.

With the zircon side of production covered and 50 per cent of LTR ilmenite under binding contract, over 75 per cent of total forecast Stage 1 revenue is now under binding agreement.

McFadzean explained that due to more stringent environmental requirements the chloride pigment sector, particularly in China, is set to enter a major growth phase which is providing an exciting and growing opportunity for our ilmenite product.

“All of the growth in production in pigment is in the chloride sector – even in China, they’re unlikely to permit any new sulfate plants,” McFadzean continued.

“For us to enter into that sector as a feedstock for chloride slag was a great win and we have received a lot of calls from producers and investors saying that they were impressed that Sheffield was able to break into that sector.

“We have always had the product with the potential to enter the chloride sector – we just never targeted it before.”

Important contractual agreements associated with the development of Thunderbird have continued to progress well, including the recently inked Port Access Agreement with the Shire of Derby-West Kimberley in WA.

The Agreement covers a minimum of 20 years of planned production from Thunderbird and provides long term access to a bulk handling facility and associated infrastructure located at the Port of Derby, from where Sheffield plans to export its mineral sands bulk products including LTR ilmenite, zircon concentrate and titanomagnetite.

Infrastructure at the Port of Derby was previously used for the export of base metal concentrates and is very well suited to the export of mineral sands products.

The company’s involvement with local communities has been integral to the progress made at Thunderbird.

Recently a co-existence agreement was successfully negotiated with the Walalakoo Aboriginal Corporation (WAC), the prescribed body corporate for the Nyikina Mangala native title holders, over miscellaneous licences that secured road access to the Thunderbird project.

The agreement covers the portion of the Thunderbird access road off the Great Northern Highway that coincides with Nyikina Mangala determined land and ensures the Nyikina Mangala people will participate in the development of the project through the receipt of throughput payments, employment, training and business opportunities.

“We were extremely pleased with the outcome of the negotiations with the Nyikina Mangala people,” McFadzean said.

“The resulting agreement recognises the interests of the Nyikina Mangala people and will ensure they play a pivotal role in the future of the Thunderbird project.”

Sheffield’s Thunderbird project is in one of the world’s best mining investment jurisdictions and is well placed to deliver long term, secure supply of high quality products to a range of potential customers.

Subject to permitting activities, the company is targeting initial production in 2020 with the initial planned production profile expected to fill emerging supply gaps in global mineral sands markets.

 

Sheffield Resources Limited (ASX: SFX)
…The Short Story

HEAD OFFICE
Level 2
41-47 Colin Street
West Perth WA 6005

Ph: + 61 8 6555 8777

Email: info@sheffieldresources.com.au
Website: www.sheffieldresources.com.au

DIRECTORS
Will Burbury, Bruce McFadzean, Bruce McQuitty, David Archer

 

Sheffield Resources Commences Regional Drilling at Thunderbird

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THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) has commenced a major exploration drilling program at the company’s Dampier mineral sands project near Derby in northern Western Australia.

Sheffield Resources said the aircore drilling program is targeting multiple prospects along a 160 kilometres long prospective horizon and is expected to take two months and generate assay results.

The campaign has commenced at the high priority Night Train prospect located 20km southeast of Sheffield’s Thunderbird project and within two kilometres of the proposed Thunderbird Access Road.

This company explained the drilling program forms part of an exploration strategy of targeting additional large, zircon rich deposits containing premium ceramic grade zircon suitable for downstream processing at the Thunderbird Dry Mineral Separation Plant.

“We are true believers in the Canning Basin as a significant new mineral sands province. We have a dominant ground position in a highly underexplored region with immense potential,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“We are looking for large zircon rich deposits to complement our Thunderbird Mineral Sands Project, one of the largest and highest-grade mineral sands discoveries in the last 30 years.

“We are planning an extensive drilling program, which could generate significant potential upside for investors.

“With clear long-term supply issues facing the industry and very few recent discoveries, Sheffield remains committed to aggressively growing its inventory of zircon rich Reserves and Resources.

“We will continue to actively pursue and evaluate new mineral sands opportunities in Australia and overseas, with a focus on large zircon rich deposits.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Sheffield Resources Granted Thunderbird Miscellaneous Licences

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THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) advised that it has been granted Miscellaneous Licences 04/82 and 04/83 by the Western Australian Department of Mines, Industry Regulation and Safety.

Sheffield Resources said the grant of the miscellaneous licences follows completion of a coexistence agreement with Walalakoo Aboriginal Corporation (WAC), the prescribed body corporate for the Nyikina Mangala native title holders, securing road access to the company’s Thunderbird mineral sands project.

“The finalisation of the coexistence agreement with the Nyikina Mangala people announced last week provided for the granting of the Miscellaneous Licences today,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“We now have full miscellaneous licence access to the mining lease application area.

Sheffield Resources indicated it will continue to advise the community and shareholders of further developments in relation to Thunderbird.

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Sheffield Resources Signs Thunderbird Ilmenite Take-Off Deal

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THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) announced a maiden binding ilmenite offtake agreement for the future sale of low temperature roast (LTR) ilmenite from the company’s Thunderbird Mineral Sands project in Western Australia.

Sheffield Resources has signed the deal with Bengbu Zhongheng New Materials S&T Co., Ltd.

The agreement is based on a five-year minimum annual supply of 150,000 tonnes of LTR ilmenite.

This represents approximately 50per cent of the estimated total volume of LTR ilmenite to be produced from Stage 1 of Thunderbird.

“We welcome and value the important relationship that we have established with Bengbu and look forward to further growth opportunities in the future,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“This binding offtake agreement further demonstrates the quality of products that Sheffield will export from Thunderbird.

“Through this relationship, we are able to target Thunderbird LTR ilmenite as feedstock for the high growth chloride slag market.

“With this agreement now in place, more than 75 per cent of Stage 1 forecast revenue is contracted under binding offtake agreement, covering 100 per cent of our Stage 1 zircon products and 50 per cent of Stage 1 LTR ilmenite.

“Demand for our products remains very strong and we look forward to providing the community and our shareholders with further offtake and project updates in the future.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au