logo-loader

Winmar Resources hits thickest intersection to date at Hamersley Iron Ore Project

Published: 15:55 25 Aug 2011 AEST

no_picture_pai

Winmar Resources (ASX: WFE) is already eyeing a resource upgrade from the Winmar Deposit at the Hamersley Iron Ore Project, after a string of high grade intersections.

The project lies approximately 50 kilometres north east of the Tom Price township in the Pilbara Region of Western Australia.  It is located existing infrastructure and lies immediately south of Fortescue Metal's (ASX:FMG) Solomon project.

The company hit the thickest recorded intersection to date, a broad 92 metres at 54.2% iron.

Importantly - the company is positioned for a future upgrade to last months Inferred Resource of 241.6 million tonnes at 54.3% iron, due to the latest results falling outside of the resource model.

These highlights include; 84 metres at 54.8% iron, 40 metres at 56.2% iron, and 36 metres at 56.2% iron. The assays continue to confirm high grade intersections of high quality bedded and channel iron mineralisation.

Another plus is the mineralisation remains open.

With this in mind, the company has a revised project Exploration Target of 350 to 400 million tonnes at 54% to 56% iron.

The Hamersley Iron Ore Project is a joint venture with Cazaly Resources (ASX: CAZ), with Winmar earning an initial 51%.

Pathfinder Resources' Shannon Green charts return to ASX following Argentina...

Pathfinder Resources Ltd's (ASX:WFE) executive chairman Shannon Green speaks to Proactive's Andrew Scott following last week's AGM in which shareholders voted to change the company's name from Winmar Resources. ''Our primary focus is the very high grade King Tut gold project in Argentina which...

on 7/9/20