The diversified international minerals company Strike Resources Limited has announced an average iron grade of 64.7% Fe from a recently conducted rock chip sampling programme within its 75% owned Paulsens East Project tenements, located approximately 140 kilometres west of Tom Price in the Pilbara region of Western Australia.
The average came from a sample of 55 rock chip samples collected from the Paulsens East Project in April 2008. The highest returned grade was 67.67% Fe. The high grade nature of the iron ore supports a potential DSO lump and fine product capitalising on high prices for premium grade iron ore.
A 3,000 metre RC drilling programme is scheduled to commence this month to determine the grade and extent of mineralisation and delineate a resource for mining. Strike is also in the process of engaging a Consulting Engineering Group to conduct a Scoping Study to support a 1.0 million tonne per annum mining operation.
Subject to satisfactory completion of drilling and Scoping Study, Strike is targeting a one million tonne per annum mining operation from the Paulsens East Project commencing as early as February 2009 with delivery of iron trucked to the shipping ports of either Onslow or Dampier.
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