Sherwin Iron (ASX: SHD) has received a boost to the Roper River Iron Ore Project in the Northern Territory, with the overall tonnage of hematite mineralisation increasing by 58% to 168 million tonnes at 44.7% iron.
The upgraded resource inventory is comprised of oolitic hematite style mineralisation, with the estimate prepared by SRK Consulting.
The hematite mineralisation is typically 3 to 4 metres in thickness, outcrops at cliff faces and dips gently away to the north-west at 5 to 8 degrees.
The resource increase at Hodgson Downs is after additional drilling along strike of the previous resource.
Another plus for Sherwin is a maiden Inferred Resource at Mt Fisher of 15.6 million tonnes at 44.0% iron following drilling to test historical targets.
The resource extends 5 kilometres south from the historic BHP Deposit M along the western side of a mesa, with the oolitic hematite mineralisation at Mt Fisher between 2 metres and 4 metres thick, which dips shallowly east at around 5 to 7 degrees.
Importantly for Mt Fisher, Sherwin expects to release a further resource upgrade in late October, along with an increased Exploration Target for the project area.
