Here is that ref, still hav'nt read in details as yet but have 62-67 % fe in surface sampling
www.strikeresources.com.au
STRIKE RESOURCES LIMITED A.B.N. 94 088 488 724
Level 14, 221 St Georges Terrace, Perth WA 6000
ASX Code: SRK T | (08) 9214 9700 F | (08) 9322 1515 E |
info@strikeresources.com.au
Tuesday, 14 November 2006
MARKET ANNOUNCEMENT
Australian Iron-Ore Update – Paulsens East
Extension of High Grade Mineralisation
The Company refers to its market announcement dated 17 July 2006 titled “Australian
Iron-Ore Update – Paulsens East High Grade Mineralisation”. That announcement referred
to the results of 19 surface samples having been collected across varying points of an
approximate 3,000m long ridge located within its Paulsens East tenement PL 47/1170.
The 19 sampled iron-ore outcrops indicated the presence of iron mineralisation of between
62.59% Fe and 67.05% Fe presenting as hematite conglomerate in hematite matrix.
At that time the Company confirmed that it also held the adjoining Exploration Licence EL
47/1328 and that upon grant of such tenement it would conduct works on the tenement to
establish the relationship between the two tenement areas.
As a consequence of the recent grant of EL 47/1328 the Company is pleased to report that
it has completed a reconnaissance survey and sampling programme in EL 47/1328.
The results of such programme has shown that the high-grade mineralisation previously
reported in PL 47/1170 appears to extend beneath cover for a strike distance of an
additional ~1.7km to the south-east into EL 47/1328 and swing further northwards along
the range for some distance still within EL 47/1328.
Samples collected from the extension are significant in their high-grade – with up to
66.34% Fe having been recorded. This result was obtained from a small outcrop 1.7km
from the previously reported high grade samples in PL 47/1170, along the ridge. This
discovery has the potential to extend the mineralisation reported previously.
20061114 SRK ASX Paulsens East Iron-Ore Project Update
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The illustration below outlines the previously reported sampling work conducted in
P47/1170 and the projected extension of Fe mineralisation from P47/1170 into E47/1328.
The Company is encouraged by this potentially significant extension of mineralisation, both
with respect to the high grades encountered and the potential strike length associated
with the same.
The Company has accordingly just completed a detailed gravity survey of the intervening
area covering the plain stretching between the two sets of outcrops.
The results of the gravity survey will greatly assist the Company in delineating additional
drilling targets within the newly granted EL 47/1328.
Such results are expected shortly and before the start of a drilling programme on the
tenements which is expected to commence in early December 2006 upon release of a
drilling rig on to the tenements.
Further details of the sample results are outlined in the following table:
PAULSENS EAST
Surface Samples of Hematite Conglomerate and Mineralised Iron; October 2006
Sample Fe SiO2 Al2O3 MnO CaO P S
UNITS % % % % % % %
FK54 66.34 2.5 1.41 0.02 0.15 0.072 0.007
FK55 55.78 16.11 2.24 0.03 0.15 0.087 0.006
FK56 62.55 7.39 1.81 -0.01 0.05 0.053 0.025
FK57 63.55 5.49 1.86 0.03 0.31 0.136 0.006
20061114 SRK ASX Paulsens East Iron-Ore Project Update
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The Company will continue to keep the market informed of its progress in advancing this
project.
For further information:
Shanker Madan Victor Ho
Managing Director Company Secretary
T | (08) 9214 9700 T | (08) 9214 9700
E |
smadan@strikeresources.com.au E |
vho@strikeresources.com.au
The information in this market announcement that relates to exploration results has been compiled by Mr Hem
Shanker Madan who is a Member of The Australian Institute of Mining and Metallurgy. Mr Madan is the Managing
Director of the Company. Mr Madan has in excess of 5 years experience which is relevant to the style of
mineralisation under consideration and qualifies as a Competent Person as defined in the 2004 Edition of the
“Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code).” Mr Madan consents
to the inclusion in this market announcement of the matters based on his information in the form and context
in which it appears.