SHERWIN IRON LTD 
By 20 September 2012
ASX ANNOUNCEMENT DSO RESOURCES UPGRADE AT SHERWIN CREEK DEPOSIT CThe previously announced infill drilling programme completion at the Hodgson Downs Deposits X and W and the Sherwin Creek Deposit C was reported during the June 2012 Quarterly Activities Report. Sherwin Iron has previously reported a total Inferred plus Indicated Lower Grade Resource portfolio of 488Mt @
41.7% Fe from its Roper River Iron Ore Project. Within this Resource a higher grade Total Inferred Resource base of 33.8 Mt @ 57.4% Fe was subsequently estimated and announced in the March 2012 Quarterly Report. This higher grade component included resources at Sherwin Creek (Deposits C) and Hodgson Downs (Deposits W and X).Analysis, quality assessment, interpretation (Figure 1) and resource modelling (Figure 2) has been completed for Sherwin Creek Deposit C based on the infill and pre-existing drilling total of 262 reverse circulation drillholes and 18 diamond drillholes. This programme has formed the basis of a new higher grade Mineral Resource estimate at Deposit C of 18.3Mt @ 58.3% Fe in the Indicated Resources category (Table 1). The category upgrade further demonstrates the confidence in continuous higher grade iron mineralisation and allows more confident mine planning work to drive the Roper River Iron Ore Project towards development and production. Similar work is progressing on the Hodgson Downs, Deposits X and W data to achieve improved confidence.
Table 1
Roper River Iron Ore Project
Sherwin Creek Deposit C Higher Grade Resources
Deposit / Category | Category | Cut-off (Fe %) | Bulk Density | Tonnes (Mt) | Fe (%) | Al2O3 (%) | SiO2 (%) | P (%) | LOI (%) |
Sherwin Creek Deposit C Sherwin Creek Deposit C Higher Grade Total# | Indicated Inferred - | 55 55 - | 2.68 2.68 2.68 | 18.34 0.08 18.42 | 58.3 57.6 58.3 | 1.07 1.52 1.07 | 12.36 12.68 12.36 | 0.03 0.02 0.03 | 2.47 2.91 2.47 |
Footnotes
#Some rounding for totals.
The estimates are reported in accordance with the guidelines of the JORC Code (2004) by employees of Sherwin Iron Ltd and audited by Coffey Mining as at August 2012. They are based the following parameters:
