Hemisphere Resources Limited (ASX:HEM) Drilling Underway At Yandicoogina South Iron Project
Perth, Sep 21, 2011 AEST (ABN Newswire) - Hemisphere Resources Limited (
ASX:HEM) today confirmed that a reverse circulation drilling rig was mobilised to the Company's Yandicoogina South iron project in the Pilbara, with drilling already underway.
Managing Director, Danny Costick said the current program of between 750 and 1,000m has the potential to increase the existing resource, and is designed to test and sterilise outcropping surface mineralisation identified on hills around the existing Indicated Resource.
"We will also infill gaps in the current drilling grid and test mineralisation in a tributary channel running south from the main Yandicoogina South ore body," Mr Costick said.
Yandicoogina South has an Indicated Resource of 4.3Mt at 55.8% Fe, and is currently subject to further evaluation.
The project is the Company's most advanced in a growing portfolio of prospective Pilbara iron projects, all of which are strategically located in close proximity to established infrastructure and existing major iron-ore operations.
Hemisphere expects to report assay results once received.
"Further step out drilling is planned for the Yandicoogina South tenement once further heritage clearance is obtained and also on grant of pending tenements E47/2473 and E47/2474," Mr Costick said.
"The pending tenements comprise undrilled ground along strike and up-channel of the initial CID discovery. They both present walk-up CID drill targets and will enhance the footprint of the Yandicoogina South project."
For the complete Hemisphere Resources Limited announcement including figures and tables, please view:
http://media.abnnewswire.net/media/en/docs/69697-ASX-HEM-558040.pdf
About Nexus Minerals Ltd
Nexus Minerals Ltd's (ASX:NXM) vision is to deliver superior returns and sustainable prosperity to our stakeholders through the effective discovery and commercialisation of world class mineral assets in a safe and socially responsible manner.
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