Overview

The objective of the Apurimac Iron Ore Project is development of a mine producing up to 20Mt of product per year.

Key project features:

•  Concessions totalling 59,000 hectares in the Southern Highlands of Peru.
• JORC Resource of 269Mt of iron ore at Opaban of 57.3% Fe (142 Mt Indicated at 57.84% Fe and 127 Mt Inferred at 56.7% Fe).
• Mineralisation predominantly high-grade, coarse-grained magnetite providing  comparatively high mass recoveries (>60%) at coarse grind size (>500 microns).
• Excellent exploration potential within current concessions with several targets containing ironstones grading >60%Fe in similar geological settings to Opaban.
• Base case of 15 – 20Mtpa of concentrate produced by open pit mining and processing 20 – 27Mtpa of ore with transport of the high grade (>66%Fe) product to the coast via a slurry pipeline for drying and shipment to customers.
• Estimated capital expenditure (2010) of US$ 2.6 – 2.9 billion, competitive with other major iron ore projects.
• Attractive life-of-mine operating expenses (2010) of US$ 17 – 20 per tonne of product
• Undulating topography at project mine site.
• Consolidation opportunities. 

Overview

he objective within the Cusco Project is to establish a stand-alone iron ore operation based on the Apurimac Ferrum and Cuervo Resources concessions covering approximately 27,000 hectares. Exploration programs are focussed on outlining sufficient resources to support a 15 – 20 Mtpa operation or the alternative of long term ore feed for the Apurimac project.

Copper/Gold Potential

The AF and Cuervo concessions lie within the Andahuaylas-Yauri Belt, a major copper and gold province which hosts several major deposits including the Las Bambas project and the Tintaya copper operation both owned by Xstrata. Exploration for copper and gold mineralisation forms a secondary but important element of the Company’s forward programs. 

Overview

(100%, East Kalimantan, Indonesia)

Due to a dispute with the partner, legal options are being considered.

The project concessions totalling 5,000 hectares are located 40 kilometres south-west of Tanjung Redeb (Berau) (the capital of the Berau Regency) and 350 kilometres north of Balikpapan, East Kalimantan.

The Paulsens East Project tenements in West Pilbara, Western Australia are located approximately 140 kilometres west of Tom Price and eight kilometres east-northeast of the Paulsens Gold mine in the northwest of Western Australia. In November 2009 Strike executed a farm-out agreement for this project with Process Minerals International Pty Ltd (“PMI”), a subsidiary of ASX-listed Mineral Resources Limited.

Under the farm-out agreement PMI has exclusive rights to explore for and mine iron ore from Paulsens East. Strike retains the rights to other minerals. If PMI mines iron ore at this project it will pay Strike a royalty of A$ 3.20 per tonne, subject to variations in line with movements in an iron ore benchmark price. PMI has advised that it intends to conduct a desktop pre-feasibility study to assess the development options for the project.