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Sheffield Resources Ltd. — Capital/Financing Update 2012
Aug 13, 2012
44780_rns_2012-08-13_bcd41181-e0d7-4ef0-bc6c-1b0ec57b4944.pdf
Capital/Financing Update
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ASX and Media Release
14 August 2012
HIGH GRADE DRILL RESULTS AT ENEABBA HMS PROJECT
KEY POINTS
-
Infill drilling confirms continuity of high grade mineralisation at Yandanooka deposit
-
New mineralised zone discovered on eastern margin of the deposit
-
Resource upgrade commenced
Mineral sands explorer Sheffield Resources (“Sheffield”) (ASX:SFX) today announced high grade results from recent drilling at the Yandanooka Heavy Mineral Sands (HMS) deposit within Sheffield’s Eneabba Project in Western Australia’s Mid-West region.
The drilling intersected mineralised intervals of up to 19.5m in width, typically from surface, including:
-
6.0m @ 11.8% HM from surface (YAAC168),
-
6.0m @ 8.34% HM from surface (YAAC334),
-
7.5m @ 7.43% HM from surface (YAAC314),
-
7.5m @ 7.03% HM from surface (YAAC336),
-
7.5m @ 6.80% HM from surface (YAAC167),
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7.5m @ 6.74% HM from surface (YAAC190),
-
9.0m @ 5.81% HM from surface (YAAC296),
-
12.0m @ 5.30% HM from surface (YAAC245), and
-
19.5m @ 2.84% HM from 1.5m depth (YAAC248)
(Refer to Table 1 for full details).
The results from Sheffield’s second drilling programme at Yandanooka follow a successful 2011 programme that delivered a Mineral Resource of 71.75Mt @ 2.6% HM (Indicated and Inferred) (see ASX release 16 August 2011). Yandanooka has a high value mineral assemblage comprising 11.5% zircon, 6.9% rutile, 10.2% leucoxene and 61.9% ilmenite.
The results demonstrate strong continuity of both the grade and width of mineralisation and confirm or improve upon the predicted grades in the current resource model (Figure 1).
In addition, a new zone of mineralisation measuring 1.6km long x 420m wide has been discovered on the eastern edge of the deposit (Figure 1). It occurs from surface and ranges from 3-12m thick (average 6m) and remains open to the east.
An updated Mineral Resource estimate, incorporating the latest drilling results, has commenced and will be completed later in Q3 2012.
Managing Director, Bruce McQuitty said the drill results were expected to further improve the economics of the Eneabba project.
“These drill results demonstrate the robust nature of the Yandanooka deposit which is the most advanced of several prospects we are evaluating within the Eneabba Project.”
“We expect the Eneabba project economics to be further enhanced given the high grades and excellent continuity demonstrated by these drill results and we look forward to reporting an updated Mineral Resource estimate.”
Sheffield Resources Ltd ACN 125 811 083 14 Prowse Street West Perth WA 6005 T: +61(0) 8 6424 8440 F: +61(0) 8 9321 1710
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The 2012 programme at Yandanooka comprised 263 aircore drill holes for a total 4,518m and consisted of both infill and step-out drilling, designed to increase the amount of resource in the Indicated classification. The drilling pattern over the deposit now approximates 200m x 120m.
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Figure 1: Yandanooka drill hole plan and current resource model. The new drilling either confirms or improves on the predicted model grade.
- 3 -
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Figure 2: Cross section 7753200mN through the Yandanooka deposit showing the broad mineralised zones and lack of overburden
Further work
A Mineral Resource update is in progress, and will include the results of the latest drilling plus additional mineral assemblage testwork based on composite samples collated from the drilling. The work is due to be completed late in Q3 2012.
Prefeasibility work on the Eneabba project is progressing well. Primary concentration testwork on an 8 tonne bulk sample from the Yandanooka deposit is expected to be completed in the near future and will be followed by mineral separation testwork to determine the quality of the mineral products.
Resource estimation work on the Durack prospect, located 20km south of Yandanooka, is nearing completion, with the results expected in the near future.
Assay results from drilling at the Drummond Crossing and Irwin prospects are still pending and will be released as they are received.
==> picture [285 x 387] intentionally omitted <==
Figure 3: Location of Yandanooka within the Eneabba Project
- 4 -
Results Tabulation
Results of heavy liquid separation (HLS) are tabulated below. HLS using TBE, screen sizes: slimes -53µm, oversize +1mm. Coordinates used throughout are MGA Zone 50 (GDA94), all holes drilled vertically.
Table 1: Yandanooka 2012 aircore drill results. Intervals calculated using >0.9% HM, <35% Slimes cut off, 3m minimum width, maximum 1.5m internal waste.
| Depth From (m) |
Depth To (m) |
Interval Width (m) |
HM wt% |
Slimes wt% |
Osize wt% |
|||
| Hole ID | Easting | Northing | ||||||
| YAAC133 | 358047 | 6751502 | 3.0 | 6.0 | 3.0 | 1.10 | 27.8 | 13.5 |
| YAAC134 | 358286 | 6751503 | 3.0 | 6.0 | 3.0 | 2.77 | 18.7 | 25.4 |
| YAAC135 | 358168 | 6751501 | 0.0 | 7.5 | 7.5 | 1.36 | 19.0 | 16.3 |
| YAAC136 | 358166 | 6751896 | 0.0 | 3.0 | 3.0 | 1.09 | 16.8 | 20.4 |
| YAAC143 | 358289 | 6751902 | 0.0 | 3.0 | 3.0 | 1.73 | 20.9 | 15.2 |
| YAAC148 | 358898 | 6752302 | 0.0 | 3.0 | 3.0 | 1.08 | 20.7 | 16.1 |
| YAAC152 | 359521 | 6751898 | 1.5 | 4.5 | 3.0 | 1.08 | 17.6 | 9.9 |
| YAAC154 | 359200 | 6752698 | 3.0 | 6.0 | 3.0 | 1.01 | 12.7 | 12.6 |
| YAAC156 | 358961 | 6752698 | 0.0 | 4.5 | 4.5 | 1.47 | 17.7 | 8.6 |
| YAAC157 | 358980 | 6753199 | 0.0 | 6.0 | 6.0 | 1.10 | 20.5 | 12.5 |
| YAAC158 | 359098 | 6753199 | 3.0 | 6.0 | 3.0 | 1.01 | 15.6 | 6.6 |
| YAAC159 | 359220 | 6753199 | 1.5 | 7.5 | 6.0 | 1.05 | 15.3 | 12.4 |
| YAAC163 | 358857 | 6753196 | 0.0 | 4.5 | 4.5 | 1.17 | 18.6 | 14.4 |
| YAAC164 | 358719 | 6752699 | 0.0 | 4.5 | 4.5 | 2.40 | 19.8 | 16.8 |
| YAAC165 | 358601 | 6752700 | 0.0 | 4.5 | 4.5 | 3.38 | 23.2 | 17.5 |
| YAAC166 | 358480 | 6752701 | 0.0 | 4.5 | 4.5 | 5.30 | 18.0 | 15.1 |
| YAAC167 | 358361 | 6752700 | 0.0 | 7.5 | 7.5 | 6.80 | 20.4 | 12.6 |
| YAAC168 | 358241 | 6752699 | 0.0 | 7.5 | 7.5 | 9.70 | 18.7 | 10.8 |
| including: | 0.0 | 6.0 | 6.0 | 11.8 | 16.5 | 8.3 | ||
| YAAC169 | 358121 | 6752699 | 0.0 | 6.0 | 6.0 | 4.44 | 19.6 | 14.2 |
| YAAC170 | 358001 | 6752700 | 0.0 | 4.5 | 4.5 | 3.50 | 16.7 | 12.4 |
| YAAC171 | 357881 | 6752700 | 0.0 | 6.0 | 6.0 | 1.93 | 21.9 | 8.3 |
| including: | 3.0 | 6.0 | 3.0 | 2.08 | 25.7 | 10.5 | ||
| YAAC172 | 357760 | 6752700 | 0.0 | 6.0 | 6.0 | 1.93 | 23.8 | 14.3 |
| including: | 1.5 | 4.5 | 3.0 | 2.19 | 28.0 | 10.7 | ||
| YAAC183 | 357299 | 6753201 | 3.0 | 6.0 | 3.0 | 1.33 | 11.7 | 8.5 |
| YAAC184 | 357420 | 6753198 | 1.5 | 6.0 | 4.5 | 1.33 | 11.1 | 8.5 |
| YAAC186 | 357661 | 6753201 | 0.0 | 7.5 | 7.5 | 3.26 | 19.2 | 19.7 |
| YAAC187 | 357780 | 6753202 | 0.0 | 6.0 | 6.0 | 2.67 | 20.6 | 15.9 |
| including: | 0.0 | 4.5 | 4.5 | 3.04 | 18.7 | 13.6 | ||
| YAAC188 | 357899 | 6753202 | 0.0 | 6.0 | 6.0 | 2.95 | 21.1 | 11.8 |
| YAAC189 | 358020 | 6753201 | 0.0 | 6.0 | 6.0 | 3.63 | 21.2 | 13.5 |
| YAAC190 | 358139 | 6753200 | 0.0 | 7.5 | 7.5 | 6.74 | 16.2 | 14.6 |
| YAAC191 | 358260 | 6753199 | 0.0 | 6.0 | 6.0 | 6.02 | 23.6 | 17.3 |
| YAAC192 | 358379 | 6753198 | 0.0 | 6.0 | 6.0 | 4.61 | 22.7 | 18.4 |
- 5 -
| Depth From (m) |
Depth To (m) |
Interval Width (m) |
HM wt% |
Slimes wt% |
Osize wt% |
|||
| Hole ID | Easting | Northing | ||||||
| including: | 0.0 | 4.5 | 4.5 | 5.82 | 22.8 | 15.7 | ||
| YAAC193 | 358499 | 6753199 | 0.0 | 4.5 | 4.5 | 4.95 | 22.3 | 17.6 |
| YAAC194 | 358620 | 6753200 | 0.0 | 6.0 | 6.0 | 3.25 | 20.3 | 19.3 |
| including: | 0.0 | 4.5 | 4.5 | 3.85 | 19.8 | 16.9 | ||
| YAAC195 | 358740 | 6753199 | 0.0 | 3.0 | 3.0 | 2.56 | 19.5 | 9.7 |
| YAAC196 | 358856 | 6753800 | 0.0 | 4.5 | 4.5 | 0.96 | 16.1 | 5.1 |
| YAAC197 | 358977 | 6753800 | 0.0 | 7.5 | 7.5 | 1.49 | 9.9 | 4.2 |
| YAAC198 | 359098 | 6753797 | 9.0 | 12.0 | 3.0 | 1.15 | 8.5 | 4.4 |
| YAAC199 | 358942 | 6754102 | 0.0 | 6.0 | 6.0 | 1.83 | 14.2 | 9.8 |
| including: | 1.5 | 4.5 | 3.0 | 2.38 | 13.4 | 7.4 | ||
| YAAC200 | 359066 | 6754098 | 1.5 | 9.0 | 7.5 | 1.62 | 11.0 | 6.2 |
| YAAC201 | 358839 | 6754100 | 0.0 | 4.5 | 4.5 | 1.65 | 15.4 | 11.5 |
| YAAC203 | 358544 | 6753919 | 0.0 | 6.0 | 6.0 | 1.07 | 18.4 | 7.9 |
| YAAC204 | 358423 | 6753895 | 0.0 | 6.0 | 6.0 | 1.41 | 17.1 | 8.4 |
| YAAC205 | 358303 | 6753870 | 0.0 | 4.5 | 4.5 | 2.44 | 19.1 | 10.9 |
| YAAC206 | 358187 | 6753845 | 0.0 | 4.5 | 4.5 | 2.95 | 20.1 | 16.3 |
| including: | 0.0 | 3.0 | 3.0 | 3.79 | 17.0 | 12.3 | ||
| YAAC207 | 358069 | 6753818 | 0.0 | 6.0 | 6.0 | 3.21 | 22.0 | 14.6 |
| including: | 0.0 | 4.5 | 4.5 | 3.92 | 22.2 | 11.1 | ||
| YAAC208 | 357945 | 6753786 | 0.0 | 4.5 | 4.5 | 3.05 | 23.8 | 16.1 |
| including: | 0.0 | 3.0 | 3.0 | 3.84 | 22.6 | 13.6 | ||
| YAAC209 | 357837 | 6753762 | 0.0 | 6.0 | 6.0 | 3.21 | 24.0 | 14.8 |
| including: | 0.0 | 4.5 | 4.5 | 3.97 | 23.3 | 11.7 | ||
| YAAC210 | 357718 | 6753737 | 0.0 | 4.5 | 4.5 | 3.16 | 24.2 | 16.7 |
| including: | 0.0 | 3.0 | 3.0 | 3.79 | 23.3 | 10.5 | ||
| YAAC211 | 357600 | 6753706 | 0.0 | 6.0 | 6.0 | 3.34 | 16.8 | 17.9 |
| including: | 0.0 | 4.5 | 4.5 | 3.97 | 17.5 | 13.6 | ||
| YAAC212 | 357485 | 6753679 | 0.0 | 4.5 | 4.5 | 1.71 | 18.8 | 13.3 |
| YAAC221 | 357409 | 6753907 | 0.0 | 3.0 | 3.0 | 1.47 | 16.2 | 11.6 |
| YAAC222 | 357529 | 6753907 | 0.0 | 3.0 | 3.0 | 2.08 | 19.1 | 12.9 |
| YAAC225 | 357139 | 6754299 | 1.5 | 4.5 | 3.0 | 1.07 | 17.8 | 9.3 |
| YAAC226 | 357260 | 6754300 | 1.5 | 4.5 | 3.0 | 1.00 | 14.3 | 11.3 |
| YAAC227 | 357382 | 6754300 | 0.0 | 4.5 | 4.5 | 1.98 | 14.0 | 8.9 |
| YAAC228 | 357497 | 6754302 | 0.0 | 4.5 | 4.5 | 3.89 | 19.9 | 8.1 |
| YAAC229 | 357617 | 6754300 | 0.0 | 6.0 | 6.0 | 4.82 | 17.8 | 5.5 |
| YAAC230 | 357738 | 6754299 | 0.0 | 7.5 | 7.5 | 3.96 | 17.8 | 8.3 |
| YAAC231 | 358220 | 6754299 | 0.0 | 12.0 | 12.0 | 1.77 | 10.6 | 6.5 |
| including: | 4.5 | 7.5 | 3.0 | 2.31 | 11.7 | 4.8 | ||
| YAAC232 | 358339 | 6754299 | 0.0 | 9.0 | 9.0 | 1.74 | 11.3 | 5.1 |
| including: | 4.5 | 7.5 | 3.0 | 2.23 | 11.8 | 4.7 | ||
| YAAC233 | 358460 | 6754299 | 1.5 | 4.5 | 3.0 | 0.98 | 25.2 | 15.1 |
- 6 -
| Depth From (m) |
Depth To (m) |
Interval Width (m) |
HM wt% |
Slimes wt% |
Osize wt% |
|||
| Hole ID | Easting | Northing | ||||||
| YAAC235 | 358577 | 6754500 | 0.0 | 3.0 | 3.0 | 1.54 | 17.4 | 6.1 |
| YAAC236 | 358706 | 6754501 | 0.0 | 7.5 | 7.5 | 1.50 | 13.5 | 5.2 |
| YAAC237 | 358692 | 6754751 | 1.5 | 7.5 | 6.0 | 1.13 | 11.8 | 3.4 |
| YAAC238 | 358582 | 6754751 | 0.0 | 9.0 | 9.0 | 1.47 | 9.3 | 5.5 |
| YAAC239 | 358453 | 6754750 | 0.0 | 6.0 | 6.0 | 1.94 | 15.0 | 9.3 |
| including: | 1.5 | 4.5 | 3.0 | 2.26 | 14.6 | 6.3 | ||
| YAAC241 | 358326 | 6755000 | 1.5 | 4.5 | 3.0 | 1.55 | 15.8 | 2.9 |
| YAAC242 | 358196 | 6754997 | 1.5 | 7.5 | 6.0 | 1.18 | 14.4 | 4.2 |
| YAAC243 | 358080 | 6754998 | 0.0 | 10.5 | 10.5 | 2.54 | 11.1 | 3.3 |
| including: | 1.5 | 10.5 | 9.0 | 2.72 | 11.3 | 3.6 | ||
| YAAC244 | 357956 | 6755000 | 0.0 | 12.0 | 12.0 | 3.76 | 12.2 | 7.4 |
| including: | 1.5 | 10.5 | 9.0 | 4.41 | 11.7 | 5.2 | ||
| YAAC245 | 357833 | 6754999 | 0.0 | 13.5 | 13.5 | 4.88 | 11.8 | 8.0 |
| including: | 0.0 | 12.0 | 12.0 | 5.30 | 10.5 | 5.4 | ||
| YAAC246 | 357717 | 6755000 | 0.0 | 15.0 | 15.0 | 2.97 | 11.3 | 8.1 |
| including: | 3.0 | 13.5 | 10.5 | 3.53 | 10.5 | 7.1 | ||
| YAAC247 | 357597 | 6755000 | 0.0 | 18.0 | 18.0 | 2.84 | 10.2 | 7.6 |
| including: | 4.5 | 16.5 | 12.0 | 3.51 | 9.1 | 5.7 | ||
| YAAC248 | 357475 | 6755001 | 1.5 | 21.0 | 19.5 | 2.84 | 11.7 | 10.4 |
| including: | 7.5 | 18.0 | 10.5 | 4.12 | 9.6 | 7.3 | ||
| YAAC249 | 357357 | 6755000 | 4.5 | 16.5 | 12.0 | 1.89 | 12.0 | 7.1 |
| including: | 13.5 | 16.5 | 3.0 | 3.50 | 11.5 | 9.2 | ||
| YAAC250 | 357239 | 6754999 | 4.5 | 16.5 | 12.0 | 2.11 | 12.0 | 6.2 |
| including: | 12.0 | 15.0 | 3.0 | 4.34 | 7.6 | 5.6 | ||
| YAAC251 | 357118 | 6755000 | 7.5 | 13.5 | 6.0 | 1.37 | 8.2 | 3.6 |
| YAAC252 | 356998 | 6755000 | 6.0 | 13.5 | 7.5 | 1.07 | 9.1 | 4.1 |
| YAAC255 | 357155 | 6755501 | 6.0 | 10.5 | 4.5 | 1.16 | 14.4 | 11.8 |
| YAAC256 | 357278 | 6755501 | 1.5 | 10.5 | 9.0 | 1.75 | 13.8 | 5.9 |
| including: | 6.0 | 9.0 | 3.0 | 2.25 | 11.2 | 4.6 | ||
| YAAC257 | 357396 | 6755501 | 0.0 | 10.5 | 10.5 | 2.53 | 13.1 | 7.0 |
| including: | 1.5 | 9.0 | 7.5 | 2.95 | 12.3 | 3.9 | ||
| YAAC258 | 357516 | 6755501 | 0.0 | 10.5 | 10.5 | 2.91 | 15.1 | 7.7 |
| including: | 1.5 | 9.0 | 7.5 | 3.52 | 15.0 | 4.5 | ||
| YAAC259 | 357634 | 6755500 | 0.0 | 10.5 | 10.5 | 2.27 | 12.4 | 7.4 |
| including: | 4.5 | 10.5 | 6.0 | 2.72 | 12.7 | 10.9 | ||
| YAAC260 | 357754 | 6755501 | 4.5 | 13.5 | 9.0 | 1.81 | 10.6 | 4.2 |
| YAAC261 | 357855 | 6755501 | 4.5 | 13.5 | 9.0 | 1.74 | 11.9 | 6.3 |
| including: | 10.5 | 13.5 | 3.0 | 2.54 | 8.0 | 9.3 | ||
| YAAC262 | 357976 | 6755501 | 7.5 | 13.5 | 6.0 | 1.16 | 12.0 | 13.5 |
| YAAC263 | 358098 | 6755500 | 6.0 | 12.0 | 6.0 | 0.97 | 16.7 | 9.3 |
| YAAC268 | 358566 | 6755000 | 1.5 | 4.5 | 3.0 | 1.44 | 14.0 | 8.5 |
| YAAC269 | 358686 | 6755001 | 0.0 | 4.5 | 4.5 | 2.60 | 12.0 | 6.7 |
- 7 -
| Depth From (m) |
Depth To (m) |
Interval Width (m) |
HM wt% |
Slimes wt% |
Osize wt% |
|||
| Hole ID | Easting | Northing | ||||||
| YAAC270 | 358814 | 6754750 | 0.0 | 9.0 | 9.0 | 1.87 | 6.9 | 3.3 |
| including: | 6.0 | 9.0 | 3.0 | 2.65 | 7.1 | 4.8 | ||
| YAAC271 | 358821 | 6754501 | 0.0 | 7.5 | 7.5 | 1.76 | 9.1 | 4.0 |
| including: | 4.5 | 7.5 | 3.0 | 2.21 | 10.0 | 6.1 | ||
| YAAC272 | 358938 | 6754500 | 0.0 | 12.0 | 12.0 | 2.06 | 7.9 | 3.5 |
| including: | 4.5 | 12.0 | 7.5 | 2.43 | 8.2 | 4.6 | ||
| YAAC273 | 359460 | 6753199 | 0.0 | 7.5 | 7.5 | 1.64 | 9.2 | 8.4 |
| YAAC289 | 357976 | 6754498 | 0.0 | 13.0 | 13.0 | 4.13 | 8.9 | 18.4 |
| including: | 0.5 | 3.5 | 3.0 | 3.68 | 10.5 | 4.3 | ||
| 5.5 | 10.5 | 5.0 | 7.35 | 5.2 | 11.9 | |||
| YAAC290 | 357957 | 6754498 | 0.0 | 10.5 | 10.5 | 4.07 | 8.5 | 14.4 |
| YAAC291 | 357938 | 6754498 | 0.0 | 10.5 | 10.5 | 4.82 | 11.1 | 14.2 |
| YAAC292 | 357918 | 6754499 | 0.0 | 10.5 | 10.5 | 4.77 | 9.3 | 10.8 |
| including: | 0.0 | 9.0 | 9.0 | 5.37 | 7.9 | 9.1 | ||
| YAAC293 | 357896 | 6754499 | 0.0 | 10.5 | 10.5 | 3.84 | 9.8 | 13.1 |
| including: | 0.0 | 9.0 | 9.0 | 4.16 | 7.9 | 10.1 | ||
| YAAC294 | 357878 | 6754499 | 0.0 | 9.0 | 9.0 | 5.45 | 10.3 | 12.2 |
| YAAC295 | 357858 | 6754499 | 0.0 | 8.5 | 8.5 | 3.43 | 9.2 | 16.2 |
| YAAC296 | 357838 | 6754499 | 0.0 | 9.0 | 9.0 | 5.81 | 10.8 | 15.5 |
| YAAC297 | 357817 | 6754499 | 0.0 | 9.0 | 9.0 | 4.10 | 11.9 | 11.7 |
| YAAC298 | 357798 | 6754499 | 0.0 | 9.0 | 9.0 | 3.89 | 11.9 | 11.2 |
| including: | 0.0 | 7.5 | 7.5 | 4.40 | 10.3 | 8.8 | ||
| YAAC299 | 357779 | 6754500 | 0.0 | 9.0 | 9.0 | 3.58 | 12.2 | 17.1 |
| including: | 0.0 | 7.5 | 7.5 | 4.07 | 10.3 | 14.8 | ||
| YAAC300 | 357758 | 6754500 | 0.0 | 9.0 | 9.0 | 3.65 | 13.3 | 12.5 |
| including: | 0.0 | 7.5 | 7.5 | 4.17 | 11.1 | 9.8 | ||
| YAAC301 | 357738 | 6754500 | 0.0 | 8.0 | 8.0 | 5.03 | 11.8 | 8.6 |
| YAAC302 | 357739 | 6754625 | 0.0 | 6.0 | 6.0 | 3.50 | 19.3 | 8.0 |
| YAAC303 | 357758 | 6754625 | 0.0 | 6.0 | 6.0 | 3.08 | 19.0 | 8.0 |
| including: | 0.0 | 4.5 | 4.5 | 3.44 | 17.6 | 3.9 | ||
| YAAC304 | 357779 | 6754625 | 0.0 | 6.0 | 6.0 | 3.02 | 19.0 | 10.3 |
| including: | 0.0 | 4.5 | 4.5 | 3.50 | 17.8 | 4.4 | ||
| YAAC305 | 357800 | 6754624 | 0.0 | 7.5 | 7.5 | 3.15 | 17.2 | 14.5 |
| including: | 0.0 | 6.0 | 6.0 | 3.67 | 17.9 | 10.4 | ||
| YAAC306 | 357819 | 6754624 | 0.0 | 6.0 | 6.0 | 4.10 | 16.4 | 13.0 |
| including: | 0.0 | 4.5 | 4.5 | 4.89 | 17.6 | 5.1 | ||
| YAAC307 | 357838 | 6754624 | 0.0 | 7.5 | 7.5 | 5.42 | 19.2 | 12.3 |
| YAAC308 | 357858 | 6754624 | 0.0 | 7.5 | 7.5 | 5.86 | 16.3 | 11.6 |
| YAAC309 | 357879 | 6754624 | 0.0 | 7.5 | 7.5 | 6.15 | 14.1 | 11.7 |
| YAAC310 | 357899 | 6754624 | 0.0 | 6.0 | 6.0 | 6.06 | 13.8 | 9.1 |
| YAAC311 | 357920 | 6754623 | 0.0 | 7.5 | 7.5 | 6.35 | 14.4 | 11.7 |
| including: | 0.0 | 6.0 | 6.0 | 7.64 | 13.6 | 7.0 |
- 8 -
| Depth From (m) |
Depth To (m) |
Interval Width (m) |
HM wt% |
Slimes wt% |
Osize wt% |
|||
| Hole ID | Easting | Northing | ||||||
| YAAC312 | 357938 | 6754623 | 0.0 | 7.5 | 7.5 | 6.48 | 12.7 | 12.5 |
| YAAC313 | 357958 | 6754623 | 0.0 | 9.0 | 9.0 | 5.58 | 11.6 | 15.6 |
| including: | 0.0 | 7.5 | 7.5 | 6.34 | 10.3 | 12.3 | ||
| YAAC314 | 357977 | 6754623 | 0.0 | 7.5 | 7.5 | 7.43 | 9.8 | 11.3 |
| YAAC315 | 357978 | 6754750 | 0.0 | 7.0 | 7.0 | 4.13 | 17.9 | 12.2 |
| including: | 0.0 | 6.0 | 6.0 | 4.66 | 18.5 | 8.5 | ||
| YAAC316 | 357961 | 6754750 | 0.0 | 7.5 | 7.5 | 3.93 | 20.1 | 11.1 |
| including: | 0.0 | 6.0 | 6.0 | 4.55 | 19.1 | 7.6 | ||
| YAAC317 | 357941 | 6754750 | 0.0 | 7.5 | 7.5 | 3.67 | 18.4 | 12.5 |
| including: | 0.0 | 6.0 | 6.0 | 4.29 | 18.0 | 8.4 | ||
| YAAC318 | 357921 | 6754750 | 0.0 | 6.0 | 6.0 | 3.70 | 20.9 | 8.5 |
| YAAC319 | 357900 | 6754750 | 0.0 | 6.0 | 6.0 | 3.45 | 20.4 | 11.1 |
| including: | 0.0 | 4.5 | 4.5 | 4.26 | 19.2 | 6.2 | ||
| YAAC320 | 357876 | 6754749 | 0.0 | 6.0 | 6.0 | 3.34 | 21.1 | 11.8 |
| including: | 0.0 | 4.5 | 4.5 | 4.12 | 19.7 | 7.5 | ||
| YAAC321 | 357858 | 6754749 | 0.0 | 5.5 | 5.5 | 3.71 | 19.9 | 11.8 |
| including: | 0.0 | 4.5 | 4.5 | 4.29 | 18.7 | 8.4 | ||
| YAAC322 | 357838 | 6754749 | 0.0 | 4.5 | 4.5 | 3.94 | 19.7 | 8.5 |
| YAAC323 | 357819 | 6754749 | 0.0 | 6.0 | 6.0 | 2.85 | 19.4 | 12.1 |
| including: | 0.0 | 4.5 | 4.5 | 3.39 | 18.7 | 8.0 | ||
| YAAC324 | 357799 | 6754749 | 0.0 | 4.5 | 4.5 | 2.79 | 18.0 | 6.2 |
| including: | 1.5 | 4.5 | 3.0 | 3.21 | 19.7 | 7.8 | ||
| YAAC325 | 357779 | 6754749 | 0.0 | 6.0 | 6.0 | 2.36 | 17.4 | 9.3 |
| including: | 1.5 | 6.0 | 4.5 | 2.53 | 18.9 | 11.8 | ||
| YAAC326 | 357760 | 6754749 | 0.0 | 6.0 | 6.0 | 2.25 | 16.6 | 9.4 |
| including: | 1.5 | 6.0 | 4.5 | 2.39 | 18.4 | 11.9 | ||
| YAAC327 | 357740 | 6754748 | 0.0 | 7.5 | 7.5 | 2.49 | 16.8 | 12.8 |
| including: | 1.0 | 5.5 | 4.5 | 3.10 | 17.0 | 7.6 | ||
| YAAC328 | 357858 | 6754727 | 0.0 | 6.0 | 6.0 | 3.48 | 20.9 | 18.2 |
| including: | 0.0 | 4.5 | 4.5 | 4.18 | 19.0 | 13.5 | ||
| YAAC329 | 357858 | 6754710 | 0.0 | 6.0 | 6.0 | 4.11 | 18.5 | 14.4 |
| YAAC330 | 357858 | 6754687 | 0.0 | 4.5 | 4.5 | 4.68 | 18.6 | 10.1 |
| YAAC331 | 357858 | 6754667 | 0.0 | 4.5 | 4.5 | 5.00 | 18.1 | 9.8 |
| YAAC332 | 357858 | 6754647 | 0.0 | 6.0 | 6.0 | 4.54 | 17.7 | 13.6 |
| including: | 0.0 | 4.5 | 4.5 | 5.49 | 19.5 | 7.5 | ||
| YAAC333 | 357858 | 6754605 | 0.0 | 7.5 | 7.5 | 5.92 | 16.5 | 11.2 |
| including: | 0.0 | 6.0 | 6.0 | 7.00 | 15.5 | 7.2 | ||
| YAAC334 | 357858 | 6754583 | 0.0 | 7.5 | 7.5 | 6.88 | 13.5 | 11.6 |
| including: | 0.0 | 6.0 | 6.0 | 8.34 | 12.8 | 6.5 | ||
| YAAC335 | 357858 | 6754562 | 0.0 | 7.5 | 7.5 | 6.39 | 14.0 | 11.2 |
| YAAC336 | 357858 | 6754542 | 0.0 | 7.5 | 7.5 | 7.03 | 12.2 | 8.9 |
| YAAC337 | 357858 | 6754522 | 0.0 | 7.5 | 7.5 | 6.95 | 11.6 | 7.9 |
- 9 -
| Depth From (m) |
Depth To (m) |
Interval Width (m) |
HM wt% |
Slimes wt% |
Osize wt% |
|||
| Hole ID | Easting | Northing | ||||||
| YAAC345 | 357071 | 6756004 | 7.5 | 10.5 | 3.0 | 1.15 | 12.6 | 11.4 |
| YAAC346 | 357195 | 6756004 | 1.5 | 10.5 | 9.0 | 1.95 | 13.1 | 6.8 |
| including: | 7.5 | 10.5 | 3.0 | 3.02 | 10.2 | 8.8 | ||
| YAAC347 | 357313 | 6756001 | 3.0 | 12.0 | 9.0 | 1.30 | 10.6 | 11.6 |
| YAAC348 | 357429 | 6756000 | 0.0 | 9.0 | 9.0 | 2.05 | 12.5 | 6.5 |
| including: | 4.5 | 9.0 | 4.5 | 2.74 | 11.3 | 8.6 | ||
| YAAC349 | 357547 | 6756000 | 1.5 | 9.0 | 7.5 | 1.21 | 12.3 | 4.2 |
| YAAC350 | 357666 | 6756000 | 7.5 | 10.5 | 3.0 | 1.26 | 9.7 | 10.6 |
| YAAC356 | 357434 | 6756298 | 4.5 | 7.5 | 3.0 | 1.10 | 18.6 | 13.5 |
| YAAC358 | 357197 | 6756299 | 3.0 | 12.0 | 9.0 | 1.43 | 11.9 | 13.2 |
| YAAC359 | 357073 | 6756299 | 6.0 | 9.0 | 3.0 | 1.03 | 12.2 | 11.8 |
ENDS
For further information please contact:
Bruce McQuitty Media: Annette Ellis Managing Director Purple Communications Tel: 0409 929 121 Tel: 08 6314 6300 [email protected] [email protected]
Website: www.sheffieldresources.com.au
COMPETENT PERSONS’ STATEMENT
The information in this announcement that relates to exploration results is based on information compiled by David Boyd. Mr Boyd is a full time employee of the Company. Mr Boyd is a Member of the Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity to which they are undertaking to qualify as Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“JORC Code”)’. Mr Boyd consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
FORWARD LOOKING AND EXPLORATION TARGET STATEMENTS
Some statements in this announcement regarding estimates or future events are forward-looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forwardlooking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook, target sizes and mineralised material estimates. They include statements preceded by words such as “expected”, “planned”, “target”, “scheduled”, “prospective”, and similar expressions.
- 10 -
ABOUT SHEFFIELD RESOURCES
Sheffield Resources Limited ( Sheffield ) is a rapidly emerging heavy mineral sands (HMS) company.
| ASX Code – SFX | Market Cap @ 40.5cps - $38.4m |
|---|---|
| Issued shares* – 94.9m | Cash - $9.3m |
The Company has over 6,000km[2] of highly prospective tenure, all situated within the state of Western Australia.
HEAVY MINERAL SANDS
The Dampier project, located near Derby in WA’s Kimberley region has the potential to become Sheffield’s flagship HMS project. It contains a large zircon-rich HMS deposit formerly explored by Rio Tinto.
Sheffield’s Eneabba Project contains six advanced exploration prospects: West Mine North, Ellengail, Yandanooka, Durack, Drummond Crossing and Irwin which are located near Eneabba. The Project is close to existing mineral sands operations and to a network of highways and railway lines connecting to the Geraldton and Fremantle/Kwinana ports. Sheffield’s strategy is, subject to exploration success, to develop multiple HMS deposits capable of supporting a flexible mobile mining operation.
Sheffield is also evaluating the large McCalls chloride ilmenite project, located near Gingin.
IRON
Sheffield’s iron strategy is to target hematite mineralisation adjacent to infrastructure in the world class Pilbara iron province and build up consolidated tenement holdings over time. To date, high grade iron mineralisation has been identified on three of the Company’s tenements.
TALC
Sheffield has 1,152km[2] of tenure over the 175km-long Moora Talc Belt which represents a dominant ground position over a region that has, for the last 50 years, been exclusively controlled by major mining companies.
The Moora Talc Belt includes the large Three Springs mine which is owned by Imerys subsidiary Luzenac Australia Pty Ltd. Three Springs is renowned for producing high purity talc and is a relatively simple “dig-and-deliver” operation.
Sheffield’s large tenement holding contains numerous talc occurrences and has the potential to become a strategic talc asset. Sheffield therefore represents a unique opportunity for investors to gain exposure to one of the few high-grade talc explorers in the world.