Sheffield increases iron ore footprint in the Pilbara
· Two additional tenements granted in world class Pilbara iron ore region – both tenements are highly prospective for iron ore
· High grade hematite to 65.3% Fe from initial reconnaissance sampling
· Strategy to grow an iron ore position in the Pilbara, building on management’s successful track record in the region
Bulk minerals explorer Sheffield Resources (“Sheffield”) (ASX:SFX) today announced the grant of two additional iron ore tenements located in the Pilbara region of
The tenements E47/2280 “Three Pools” and E47/2291 “Eagle Pool”, which together constitute the Four Pools project, are located approximately 25km north-northwest of Newman and lie in close proximity to several large iron deposits (see Figure 1).
The granting of these tenements follows a successful ballot and increases
The Pilbara is familiar territory for
Managing Director, Bruce McQuitty said that, despite the strong competition for tenure, one of
“The Pilbara is elephant country for iron ore and familiar territory for
“Iron ore is the second arm of our exploration strategy. We are seeking to grow our iron exploration portfolio to balance a strong position in mineral sands and talc. This will provide our shareholders with leverage to both the current steel feeds cycle and the emerging ceramics-fillers-pigments cycle.”
Four Pools Project
The Three Pools tenement E47/2280 overlies two synclines cored by the Boolgeeda Iron Formation. Preliminary mapping has identified strong iron enrichment associated with both the Boolgeeda Iron Formation and a banded iron formation within the Wongarra Volcanics. The Boolgeeda Iron Formation is known to host several significant iron deposits, including FMG’s Horatio deposit and Atlas Iron’s Hickman and McCamey’s North discoveries.
The Eagle Pool tenement E47/2291 contains channel iron deposit (CID) mineralisation possibly related to the Coondiner Creek CID system. Two samples taken from these occurrences returned assay results of 60.50% Fe and 55.28% Fe respectively.
Further mapping and sampling is planned for the first half of 2011 to fully evaluate the iron potential and to identify targets for initial drilling.