Hemisphere Resources (ASX: HEM) has found further high grade CID outcrop during sampling work at its Yandicoogina South prospect in the Pilbara, Western Australia.
Located in the heart of the Pilbara Iron Province, Hemisphere Resource's Yandicoogina South Iron Project is a target for premium quality channel iron deposits.
Adjoining major iron ore mines are the world class Rio Tinto (ASX: RIO), BHP Billiton (ASX:BHP) and Fortescue Metal Group's (ASX: FMG) iron ore mines.
Further CID rock chip sampling at Yandicoogina South has confirmed a minimum 700m strike and widths of up to 200m. This confirms the potential for Channel Iron Deposits (CID) within the project area. The recent results confirm the outcrop quality previously reported and suggest a continuance of the CID to the eastern part of the valley.
The potential CID areas were identified by a study of Landsat images as previously announced.
Drilling will commence when all statutory requirements are fulfilled.
Hemisphere shares have climbed from $0.20 in October 2009 to $0.625 since coverage of iron exploration.