Strike Resources has discovered a new pocket of high-grade hematite rich detrital iron ore at its Paulsens East Iron Ore Project in Western Australia. An exploration program is proposed to begin this month to determine the depth and mineralized area of this find.
The find will add new inventory for the 3km project, which had a previously indicated mineral resource of 9.6mn mt at 61.1pc Fe along with other mineral resources. Strike made the discovery during the August sampling process, where visual inspection established that eroded detrital material extended to at least a 1.5mt in depth along the northern base.
The new sampling program at Paulsens will include up to 120 pits dug to a three-meter depth in a 2,700 meters long and 150 meters wide region totaling 32 acres. The commercial viability of exploiting the detrital materials will be established after further studies are finalized.
Preliminary screening established a weight distribution of 63.7 comprising 60.1pc Fe and a weight distribution of 19.6pc comprising 61.1pc Fe.
The Paulsens East Iron Ore project owned fully by Strike Resources is in Pilbara, Western Australia. The company is launching site extraction in 2021 for an initial mine life of four years and is targeting annual production of 1.5mn mt of lump and direct shipping iron ore fines. The 21-yr mining lease for the Paulsens project was granted in early September.
Strike is finalizing its mining proposal to Australia’s Department of Mines, Industry Regulation and Safety (DMIRS) to carry out full mining operations on the mining lease.