Strike Resources discovers high-grade iron-rich detritals at Paulsens East

Strike Resources Limited (ASX:SRK) has identified high-grade hematite-rich detrital material at the surface at Paulsens East Iron Ore Project in the Pilbara region of Western Australia. Sampling from the surface to a depth of 1.5 metres approximately 100 metres north from the hematite ridge indicated the presence of loose scree dominated by high-grade hematite. High grades Screening and assay results of the samples indicate an average iron grade of 60% with 83% recovery with minor crushing to a top size of 32 millimetres. Several areas having similar surface materials have also been identified, and the company proposes to undertake an exploration program to test the extent of the mineralisation area and depth. The company also plans to dig up to 120 pits over an area of around 2,700 metres having an average width of 120 metres wide and to a depth of up to 3 metres. Detrital material is already broken and reduced in size which usually sees exceptionally low strip ratios and no drilling or blasting in production scenarios which can result in lower operating costs. “Very exciting” Strike managing director William Johnson said: “The presence of such high-grade detrital material is very exciting. “If the existence of significant quantities of this iron ore material are determined as a result of the current exploration program, such material has the potential to deliver additional value for Strike which has not previously been accounted for in our project studies.” Exploration program A review of drill logs from Strike’s previous drilling campaigns along the northern edge of the hematite ridge at Paulsens East has confirmed that a number of drill holes encountered iron-rich loose scree within the first few metres from the surface. Encouraged by initial assay results along with the visual evidence of similar surface materials, the company plans to start an exploration program shortly to test the extent of mineralisation. The project comprises a 3-kilometre-long outcropping ridge of high-grade direct shipping ore.