Paulsens East Iron Ore Project (Pilbara, Western Australia) (Strike 100%)
The Paulsens East Iron Ore Project (Paulsens East) consists of a single Retention Licence R47/007, of which Strike is the 100% beneficial owner. The tenement is located approximately 140 kilometres west of Tom Price, 8 kilometres from the Paulsens Gold Mine and 233 kilometres by road (of which 210 kilometres is good quality paved roads) from the Port of Onslow and 380 kilometres from the Port of Dampier (refer Figure 1).
A key feature of the Paulsens East Mineral Resource is an approximately 3 kilometre-long ridge of outcropping hematite conglomerate which extends up to 60 metres above the surrounding terrain (refer Figures 2,3,4 & 5). It is estimated that the outcropping portion contains approximately 2 million tonnes of high grade 62% Fe potential DSO material that may be able to be mined with minimal overburden. Such an operation could be undertaken relatively simply using shovels and trucks, with the material then to be crushed and screened on site prior to transport by road to a suitable port facility for export
Maiden JORC Mineral Resource Estimate
Table 1 summarises the JORC Inferred Mineral Resources within the 58% Fe lower grade cut-off wireframe. These resources extend from the surface to 75 metres below the deepest drill intersection on each cross section.
Of the Inferred Mineral Resource referred to above, approximately 2 million tonnes of 62% Fe (with 5.7% SiO2 and 3.0% Al2O3) hematite material occurs above the base of the ridge (as defined by drill hole collars) with minimal overburden.
In addition, there is potential to extend the resource for a strike distance of approximately 2 kms along an arcuate extension of the ridge to the south east. This extension is based on small hematite conglomerate outcrops along the surface and a plus60% Fe drill intersection at a depth of 20 metres at the eastern boundary of the Retention license.
For further background information about Paulsens East, please refer to Strike’s previous ASX market announcements as follows:
- 15 July 2019: maiden JORC Resource of 9.1 Million Tonnes at 63.4%Fe – Paulsens East Iron Ore Project in the Pilbara