Hazelwood Resources (ASX: HAZ) is an emerging ferroalloy producer, with a majority interest in the largest, most advanced ferrotungsten plant outside of China.
Significant tungsten mineralisation for Hazelwood Resources at Big Hill
Hazelwood Resources (ASX:HAZ) has advised that all outstanding assays from the recent drilling program at the Company’s wholly owned Big Hill Tungsten Deposit have now been received.
Modeling is in progress and a maiden Mineral Resource estimate will soon be available.
Intensive evaluation programs by the Company have revealed the Big Hill Tungsten Deposit "to be significantly more extensive than the company originally thought:
- The outcropping mineralised host sequence increases in thickness at depth, showing extensive coarse grained scheelite mineralisation that still remains open at depth.
- Step out drilling has now demonstrated that significant tungsten mineralisation continues along strike, extending the deposit to the east by more than 500 metres.
- Many significant tungsten intercepts have been returned from the overlying hangingwall sequence, which was previously thought to be barren.
- Recent success in preliminary x-ray sorting testwork suggests a potential for the bulk mining and processing of the entire mineralised sequence. Material of low tungsten concentration can be significantly pre-concentrated ahead of milling and beneficiation.
- Metallurgical variability testwork is continuing, to allow finalisation of the prefeasibility
process flowsheet.
- With continued drilling, the project could emerge as a world-class deposit in terms of scale, building on its already favourable geometry and processing characteristics.
- Chinese tungsten concentrate prices have shown slight improvement compared to the recent lows of December 2008. Prices for 65% WO3 concentrates are reported as $US 139 to $US 146 per metric tonne unit.
