Sherwin Iron resource boost underpins 2012 production strategy at Roper River by Proactive Investors
The W Deposit has received a 40% increase in resource estimation to 100 million tonnes at 48.3% Fe, which is one of the six Hodgson Downs Deposits, within the Sherwin Iron (ASX:SHD) Roper River project in the Northern Territory.
The W Deposit now has; an inferred 72mt at 47.7% Fe, and an indicated 28mt at 49.8% Fe.
Of significant importance, Sherwin said 81mt at 57% Fe is possible at the W Deposit, with this grade directly shippable.
This was identified through preliminary metallurgical testwork, which demonstrated that the resource can be upgraded through a low-cost beneficiation process.
The upgrade supports the Sherwin strategic plan for a 2012 production strategy, with Hodgson Downs operating as a stand-alone operation, with reverse circulation and diamond drilling at the nearby X Deposit being finalised, which the company expects to complete by the end of this month.
Reverse circulation and diamond drilling is continuing to further upgrade the resource estimate at W Deposit, and further refine metallurgical test-work for the proposed Hodgson Downs operation.
In parallel to this development, Sherwin will also be exploring larger scale targets across the 3,500km2 Roper River Iron Ore Project, including the previously identified Sherwin Creek / Mt Scott Deposits.
SHD Price at posting:
23.0¢ Sentiment: Buy Disclosure: Not Held
