Strike Resources Ltd. upgraded the maiden JORC 2012-compliant inferred mineral resource at its Paulsens East iron ore project in Western Australia to the indicated category.
The project hosts an indicated mineral resource of 9.6 million tonnes at 61.1% iron, 6.0% silica and 3.6% aluminum oxide using a 58% iron cutoff. Its maiden resource indicated the potential for high grade direct shipping ore.
The upgrade was achieved on the back of a recently completed surveying and sampling program carried out to increase the resource category and enable development of a detailed mine plan and economic model. It used data from 66 reverse circulation drilling holes for a total of 3,537 meters, as well as rock chip sampling and a drone survey.
The company said Sept. 4 it expects to outline capital and operating costs for the Paulsens East project within the next four to six weeks.
