Winmar Resources Limited (Winmar or the Company) is seeking offers for the acquisition, or such arrangement to the satisfaction of the Company, of its 70% interest in the Hamersley Iron Project (the Project); an advanced exploration iron ore project located in the Pilbara, Western Australia - one of Australia's premier iron ore destinations. The Project sits ~50km north-east of Tom Price and immediately south of the Solomon project held by Fortescue Metals Group Ltd (FMG).
Highlights include:
Extensive infrastructure - Located adjacent to operating mines, workforce, rails & roads (the FMG and Rio Tinto rail located ~35km from the deposit);
JORC (2004) compliant Mineral Resource of 343Mt @ 54.5% Fe (57.9% Calcined Fe), including 42.6Mt @ 55.2% Fe (57.3% Calcined Fe) classified as Indicated Mineral Resource;
Significant exploration upside of ~400Mt @ 56-60% Calcined Fe, with the northern and southern targets untested.
WFE Price at posting:
2.4¢ Sentiment: None Disclosure: Not Held
