Winmar Resources releases Hamersley assay results

THE DRILL SERGEANT: Winmar Resources (ASX: WFE) has released more high-grade intersections of iron mineralisation from the latest phase of drilling completed at the company’s Hamersley iron project in the Pilbara region of Western Australia.

Winmar completed a 13 hole RC drilling program at the Hamersley project in November 2012 and has now received all assay results, which include encouraging shallow high-grade intercepts of:

–    64 metres at 58.12 per cent iron (59.33 per cent Calcined iron) from 28 metres, within a broader Channel Iron Deposit (CID) zone of 116 metres at 56.33 iron;
 
–    46m at 59.05 per cent iron (60.28 per cent Calcined iron) from 28m; and

–    26m at 59.95 per cent iron (61.11 per cent Calcined iron) from 26m.

In addition, CID intercepts were returned from seven of the remaining 10 target depth holes.

These included:

–    142m at 52.46 per cent iron (54.77 per cent Calcined irone) from 26m; and

–    34m at 57.33 per cent iron (58.58 per cent Calcined iron) from 26m.

Winmar explained that the zone of CID and high grade detrital material in the south west of the project area will be the initial focus of development, which the company considers may provide an early pathway to Direct Shipping Ore (DSO) and production of beneficiated material.

 

Location of Winmar’s Hamersley iron ore project. Source: Company announcement

 

“The most recent phase of drilling was designed to define the full extent of shallow high-grade mineralisation in the south western area of the deposit,” Winmar Resources said in its ASX announcement.

“This area was targeted based on results from the previous phase of drilling, June 2012, which included highlight results of an outstanding high grade intercept of: 74 metres at 59.15 per cent iron (60.47 per cent Calcined iron) from 28m within a CID zone of 102 metres thickness.

“Average depth of drilling was approximately 100 metres with initial drill spacing 100 metres by 125 metres.

“Interpretation and assessment of all assay results from this phase of drilling is now complete, and work has commenced on the resource evaluation.”

Winmar said it intends to use the assay results to remodel the project’s current JORC Inferred Resource of 368.4 million tonnes at 54.7 per cent iron (which includes a main CID zone of 343.3Mt at 55.3 per cent iron).

The company anticipates this will facilitate conversion of a portion of the current Resource at the Hamersley iron project to an Indicated Mineral Resource estimate (according to JORC Guidelines) and reinforce the project’s 350 to 400Mt at 54 to 56 per cent iron exploration target.