Sign up Australia
Proactive Investors - Run By Investors For Investors

Winmar Resources increases stake in Hamersley

Winmar Resources increases stake in Hamersley

Winmar Resources (ASX:WFE) has increased its interest in the Hamersley Iron Project in Western Australia to 70% from 51% under the joint venture agreement with Lockett FE Pty Ltd.

In addition, Lockett has agreed to transfer to Winmar its full participating interest in the northern portion of the Exploration Licence 47/1617.

Hamersley is an advanced exploration target with major exploration upside and development potential.

In November 2014, the company was granted Mining Lease 47/1450 over the Winmar Deposit, which has a Resource of 343.2 million tonnes at 54.5% iron.

Previous drilling programs within the Mining Lease confirm that the mineralisation remains open in most directions, particularly to the north.

The company plans to conduct infill and extensional drilling of the Deposit to further understand the characteristics of the ore body and upgrade the deposit.

In addition, the mine gate scoping study indicates that mine infrastructure and camps will be located adjacent to the deposit and within the boundaries of the Mining Lease.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full WFE profile View Profile

Winmar Resources Ltd Timeline

December 07 2017
February 13 2017

Related Articles

August 24 2018
American Manganese is blazing a trail in the recovery of metals from scrap cathode material rejected by battery manufacturers
March 28 2018
In January this year, shares in the materials group began trading on Nasdaq First North Stockholm
April 12 2018
The Silver Cloud project lies on one of the world's richest gold belts

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use