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Winmar Resources delivers maiden Indicated Iron Resource at Hamersley

Winmar Resources delivers maiden Indicated Iron Resource at Hamersley

Winmar Resources (ASX: WFE) infill drilling campaign at the Hamersley iron project in the Pilbara region of Western Australia has delivered a maiden Indicated Resource.

Hamersley is located in the Tom Price Region of the Pilbara, in close proximity to Fortescue Metals’ (ASX: FMG) Solomon project and Rio Tinto’s (ASX: RIO) Marandoo and Brockman mines.

The Indicated Resource is 42.6 million tonnes at 55.2% Fe (57.3% CaFe) and was conducted by RungePincockMinarco, with Inferred 300.6 million tonnes at 54.5% iron (58.0% CaFe) for a total Resource of 343.2 million tonnes at 54.5% iron (57.9% CaFe).

Importantly for Winmar is that the Indicated portion of resource is near surface, which opens up the potential for future DSO production, which brings cash flows. The company will now focus on this part of the resource with Pre-Feasibility Studies and infrastructure discussions underway.

Winmar has also outlined that talks are underway with multiple parties to identify and collaborate on strategic infrastructure solutions in line with the project’s development plan. Both road and rail opportunities are being pursued with associated port opportunities.


Joint Venture

Winmar recently satisfied the expenditure requirements of its Farm-In and Joint Venture with a subsidiary of Cazaly Resource (ASX: CAZ) for Hamersley.

The joint venture between Winmar and Cazaly was subsequently formed on 11 February 2013 with respective participating interests of the parties: Winmar 51% and Cazaly 49%. Winmar continues to manage the project.

 

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Winmar Resources Ltd Timeline

Newswire
February 13 2017

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