Red Hawk Mining Limited (ASX: RHK) has announced a mineral resource estimate (MRE) for direct shipping ore (DSO) for the Delta and Paragon deposits at the 100%-owned Blacksmith Iron Ore Project of 100.3Mt at 60.1% Fe. Importantly, 96% of the MRE is in the indicated category with 4% in the inferred category.
Commenting on the DSO mineral resource estimate at Delta and Paragon, Red Hawk’s managing director, Steven Michael, said, “Red Hawk is focusing on developing high quality DSO resources at the Blacksmith Project, in the Pilbara Region of Western Australia, with an emphasis on bringing the project into production as soon as possible. The DSO MRE at Delta and Paragon confirms we have sufficient +60% Fe mineralization with low deleterious elements to potentially build a robust mining operation.”
The Blacksmith Project is underpinned by a substantial deposit knowledge base, including over 200,000m of historical drilling, assays, geological modelling, metallurgical test work and geophysical data. This knowledge base has been re-interpreted to improve the geological characterization and lithological domaining of the Delta and Paragon deposits. The technical work included the reassessment of 1,682 existing drill holes on 69 geological sections within the Delta deposit and 22 geological sections within the Paragon deposit.
The company is currently developing a mine plan utilizing the resource block models. This mine plan is expected to show significant quantities of the identified resource could be recovered via open pit mining at a low strip ratio. With the size and quality of the resource base, Blacksmith has the potential to produce a high-quality product, with a long mine life, and have the capacity for production volume upside, depending on available export infrastructure.
Further, a scoping study based on the Delta and Paragon DSO MRE is currently being completed and will be released later this month.
To find out more, please visit www.redhawk.com.au
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