Sign up Australia
Proactive Investors - Run By Investors For Investors

Strike Resources associate firms up magnetite mineralisation at Peru iron ore project

Strike Resources associate firms up magnetite mineralisation at Peru iron ore project

Strike Resources’ (ASX: SRK) associate Cuervo Resources (CNSX: FE) has intersected massive magnetite mineralisation over at least 1,400 metres of strike at the Bob 1 target zone in the Cerro Ccopane iron ore project, Peru.

Peak results from drilling include:

-    127 metres at 54.1% iron from 83.1 metres;
-    84.6 metres at 33.8% iron from 25.7 metres; and
-    65.1 metres at 40.9% iron from 18.3 metres.

Strike added the mineralisation remains open in all directions and that an initial resource estimate is expected in late February 2013.

The Bob 1 magnetic and gravity target extends over a total strike length of about 3 kilometres with extensive outcrops of massive magnetite present along the bulk of the length of the target.

All drill holes completed to date have intersected zones of magnetite-rich rocks, with several intervals of massive magnetite interspersed with relatively narrow intervals of intermediate composition intrusives.

Strike has advanced Cuervo C$5.25 million (A$5.07 million) for the current (Stage 1) program and, in return, was granted warrants that can be converted into about 33% of Cuervo’s shares, on an undiluted basis.


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.

Register here to be notified of future SRK Company articles
View full SRK profile View Profile

Strike Resources Timeline

Related Articles

November 18 2016
Anglesey is the owner of the Parys Mountain underground zinc-copper-lead-silver-gold deposit in Wales, where it is updating earlier scoping and economic studies.
May 19 2017
Strategic Minerals has a diversity of assets, including the Cobre magnetite operation in New Mexico and the Redmoor tin and tungsten project in Cornwall
picture of steel mine
April 07 2017
Company has just agreed to spend the best part of £12mln on the Vametco vanadium mine next door to the company’s own deposit at Brits

© Proactive Investors 2017

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