HEMISPHERE RESOURCES LIMITED - ASX: HEM

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Description

Hemisphere Resources is an active explorer with advanced projects targeting iron ore, uranium and nickel. With successfull drilling to date, our strategy is based on targeting production - rocks to dollars.

Yandicoogina South Iron Project

Located in the heart of the Pilbara Iron Province, Hemisphere Resource's Yandicoogina South Iron Project is a proirity target for premium quality channel iron deposits. Hemisphere Resources have the capability and intent to apply a 'rocks to dollars' strategy to the Yandicoogina Project. This is expected to involve Direct Shipping Ore (DSO).

Hancock Range Iron Project

Hemisphere Resources received formal notification of their success in ballot results released on 21 October 2009 for the Pilbara Iron Tenement E47/2110. Priority exploration licence application E47/2110 of some 30sq km is located in the Pilbara region of Western Australia. Hemisphere won the ballot ahead of six other applicants including FMG Pilbara Pty Ltd, Hancock Prospecting Pty Ltd, Murchison Metals Limited and others. The property was keenly sought and is located 1.8km south of Hemisphere’s Yandicoogina South Project (E47/1904), approximately 15km north east of Mining Area C (BHPB) and some 5km north of Hope Downs. Basement geology includes Brockman Iron Formation and Weeli Wolli Formation.

Sandstone Uranium Project

Hemisphere Resources has secured ten priority Exploration Licence Applications (ELA’s) and will target uranium mineralisation associated with both valley calcrete and playa lake sediments. The total area secured is over 800sqkm within a world-class uranium province with favourable geology and well defined catchments. All of the Hemisphere properties are in the proximity of known uranium occurrences, including Yeelirrie (the world’s largest unmined calcrete uranium deposit), Windimurra Uranium, Wondinong, Lake Mason, Anketell, and Lake Noondie. Project neighbours have recently published uranium resources as well as base metals discoveries (BHP/WSA). The Company has carried out a radiometric data review of the lease areas with encouraging results.

Mulgarrie Nickel Project

Hemisphere Resources has 70% of the Mulgarrie Nickel Project located in a significant nickel province 75km NNE of Kalgoorlie-Boulder bounded by the Silver Swan, Scotia and Carr Boyd mines all of which are known for high grade nickel sulphide production.The remaining 30% is owned by Falcon Minerals.

Key drill results to date include the following:

* Intersected mafic and ultramafic lithologies
* Anomalous nickel and copper in drilling
* 4m at 1.23% Ni (from 44m)
* 4m at 0.73% Ni (from 36m)
* 12m at 0.42% Ni (from 44m)
* 16m at 0.55% Ni (from 20m)

Mine For

iron ore, uranium, nickel

Location of operation(s)

Western Australia

Address

24 Colin St
WEST PERTH, WA, AUSTRALIA

Phone

(08) 9481 1749

Email

Website

http://www.hemisphereresources.com.au

Last Updated

5/4/2011