The Company conducted an exploratory drilling programme of 17 drill holes in 2007, and in 2008 has drilled a further 49 drill holes for a total of 7,700m during the two drilling seasons. To date the drilling programme has focused on 30% of the area of the magnetic anomaly and, based on geological logging and assay data from approximately 50% of the drilling to date, a resource estimate of between 250Mt and 300Mt is likely to be achievable.
Some of the best intersections obtained included drill holes with cumulative thicknesses of between 67m, 98m and 110m.
The mineralisation is essentially of two different types:
- High-grade (+60% Fe) blanket hematite mineralisation, which is low in impurities and close to surface; and
- Relatively lower grade magnetite (generally averaging +50% Fe). This latter type mineralisation generally produces a very high grade product with low levels of impurities.
Davis Tube test work on representative diamond core samples from the magnetite mineralisation has confirmed product grades of between 65.2% Fe and 70.2% Fe, at an average of 67.9% Fe with average weight recovery of 73.35%. Most common gangue minerals associated with this mineralisation are generally soft silicates such as chlorite, epidote and some calcite and sulphur as pyrite, all of which are soft and powder or crush easily leading to low crushing and grinding costs.
After simple magnetic separation it has also been determined that impurities and gangue minerals are easily removed with average sulphur after first pass magnetic separation in the product to be 0.13% S.
These results were obtained at a coarse grain size of 100% passing 75 micron by simple magnetic separation without any floatation. The product grades are expected to improve further at a finer grain size of 80% passing 45% microns with sulphur content likely to be reducing even further.
Cuzco Lump Project Update (Stage 1)
The Company is conducting a scoping study on the mining and transportation of initially 1.2Mt tonnes, expandable to 2Mt per annum of high-grade (+60% Fe) lump iron ore from its Cuzco mine through to Matarani port commencing in late 2009. Preliminary findings indicate that the ore will be trucked 275 kilometres through to a railhead near the town of Imata. From there it will be loaded onto trains and railed 312 kilometres through to the existing port of Matarani using a third party contractor, Peru Rail.
Strike Resources has commenced base line environmental monitoring at the Cuzco project as a precursor for the Environmental Impact Assessment which is due to be awarded to a preferred consultant by the end of July 2008.
Two 456kg bulk samples (mined to a depth of 8 metres) and core samples from the last diamond drilling campaign are currently undergoing lump iron ore metallurgical testing in Australia with results expected in August 2008.
The Type C environmental approvals have been granted for a further 296 hole drilling campaign by the Ministry of Mines. Stage 1 drilling seeks to define a near surface JORC resource to support the Stage 1 Lump operation. Subsequent drilling campaigns will also seek to define a JORC resource at depth to support Strike’s proposed Stage 3, 20 Mtpa operation from the Cuzco Project area.
All community approvals have been granted for the drilling of these additional 296 holes and drilling will commence in August 2008.
Print Page
Text Only