- Strandline Resources (STA) receives “strong” results from infill drilling at the Amy South Mineral Resource within the Coburn project in WA
- The air core drilling program reportedly returned significant mineral sands intersections, and broad, continuous, shallow zones of mineralisation
- Intersections included 13 metres at 2.8 per cent Total Heavy Mineral (THM) from 21 metres and 11 metres at 2.9 per cent THM from 23 metres
- The results will be used to upgrade and optimise the mine plan prior to the commencement of mining scheduled for next year
- Shares have been trading flat at 19.5 cents at 3:33 pm AEST
Strandline Resources (STA) has received the results from resource infill drilling at the Amy South Mineral Resource within its Coburn project in Western Australia.
STA has secured funding for the mineral sands project which is located in the Gascoyne region 250km from the port of Geraldton, and development activities have begun on site with civil bulk earthworks reportedly well underway.
An air core drilling program was completed in March, with a total of 446 holes completed across the northern areas of the Amy South Mineral Resource and Ore
The infill drilling targeted the first two to three years of the Coburn mine plan, which was developed during the definitive feasibility study (DFS).
Results included what the company deemed significant mineral sands intersections, and also validated broad, continuous, and often shallow zones of mineralisation.
Intersections included 13 metres at 2.8 per cent Total Heavy Mineral (THM) from 21 metres and 11 metres at 2.9 per cent THM from 23 metres.
STA said the results bode well for a Mineral Resource upgrade and further optimisation of the first two‐year mine plan with ore reserves expected to be updated prior to the first production pitted for the December quarter of 2022.
In particular, Managing Director Luke Graham said the positive infill drilling results across the first two‐year mine plan reaffirms the strong geological fundamentals of Coburn.
“Several of the higher‐grade infill intersections are outside of the current mine plan and demonstrate the scope to potentially increase Reserves while further de‐risking the overall outlook,” he said.
“The global mineral sands market continues to tighten with spot commodity pricing currently substantially higher than the assumptions contained within the Coburn DFS financial model.”
Shares were trading flat at 19.5 cents at 3:33 pm AEST.