Spitfire Resources (ASX: SPI) is an emerging Australian resource company focused on the exploration and development of raw materials for the carbon steel and energy sectors.
Spitfire’s flagship asset is the South Woodie Woodie Manganese Project, which covers a total area of 1,800 square kilomeres in Western Australia’s emerging East Pilbara Manganese Province – a region renowned globally as a major source of iron ore and manganese for the Asian steel industry. Spitfire has defined a JORC compliant manganese resource inventory of 2.94Mt @ 7.07% Mn at the Tally-Ho deposit.
Spitfire Resources sees high grade manganese zone boosting South Woodie Woodie project economics
Spitfire Resources (ASX: SPI) has receieved assay results of up to 37.27% manganese (Mn) from drilling at its South Woodie Woodie project, confirming Contact North as a substantial near-surface manganese discovery with a high-grade zone.
The company expects the high-grade zone to provide a significant boost to the economics of the Western Australian project.
Highlights include:
- 20 metres at 23.06% manganese from 51 metres, including:
- 16 metres at 24.26% manganese from 53 metres;
- 5 metres at 29.50% manganese from 57 metres; and
- 2 metres at 34.23% manganese from 57 metres and 37.27% manganese at 58 metres.
Significantly, all reverse circulation drill holes at Contact North intersected mineralisation with assays indicating a manganese layer averaging seven to 20 metres in thickness and grading over 20% manganese from 36 -50 metres.
Drilling at contact has identified mineralisation extending over an area 640 metres by 580 metres remaining open in most directions.
The newly discovered high grade core contains multiple one metre reverse circulation drill assay intersections grading greater than 30%.
John Mackenzie, managing director, said the results “define a large body of mineralisation which remains open in most directions.
The company is looking to resume drilling as soon as possible to define the Contact North mineralisation and lay the foundations for an initial JORC resource.
The exploration will be the largest and most aggressive in the company's history and will aim to rapidly progress its three deposits and to discover others from prospective geological targets identified in the area.
“The next phase of drilling will complete coverage of the Contact deposit, and enable us to commence work immediately on a JORC resource estimate,” Mackenzie added.
Spitfire plans to commence the new drill campaign in September after securing a second drill rig and expects to undertake extensive drilling of up to 20,000 metres in the next 12 months.
The drilling is designed to extend and in-fill Contact North, complete in-fill drilling at the Contact deposit and extend and in-fill the previous Tally-Ho discovery.
The drill campaign will also test several new regional exploration targets to the northwest and southwest of Contact and Contact North.
