Sheffield Resources - Quarterly Activities Report
Sheffield Resources (ASX:SFX) has released its Quarterly Activities Report for the period ended June 30 2016, which details work carried out as part of the Bankable Feasibility Study on its Thunderbird Mineral Sands Project, near Derby in Western Australia. During the quarter metallurgical testwork and flow sheets for various plant components were completed. The Company finished the period with $5 million in cash.
HIGHLIGHTS
Thunderbird Mineral Sands Project
- Hatch progressing the Bankable Feasibility Study (BFS), with engineering design now underway, along with pilot scale test work on the low temperature roast ilmenite
- Positive batch tests delivering quality improvements in low temperature roast ilmenite product specifications
- Measured component of Thunderbird Mineral Resource doubled to 220Mt @ 14.5% HM (at a 7.5% HM cut-off)
- Positive initial metallurgical test work results from the Night Train deposit (located 20km from Thunderbird) indicating potential to produce a premium zircon product
- Project Environmental Scoping Document (ESD) approved by the Western Australian Environmental Protection Authority
Corporate Activities
- Cash position of A$5.0 million as at 30 June 2016
- Continued focus on securing a pathway through to project development, via partnering options and product off-take arrangements
- Mr Neil Patten-Williams appointed as Marketing Manager during the quarter
