SPITFIRE RESOURCES LIMITED - ASX: SPI

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Description

Spitfire Resources Limited (Australian Securities Exchange Ticker: SPI) is an emerging Australian resource company focused on the exploration and development of raw materials for the carbon steel and energy sectors.

Originally established in 2007 as a spin-off of the Australian manganese assets of the AIM-listed coal company, Churchill Mining PLC, Spitfire’s flagship asset is the South Woodie Woodie Manganese Project, which covers a total area of 1,800km2 in Western Australia’s emerging East Pilbara Manganese Province – a region renowned globally as a major source of iron ore and manganese for the Asian steel industry.

These tenements lie approximately 50km down-strike to the south from the 1Mtpa Woodie Woodie manganese mine and in close proximity to several other emerging manganese projects including the Nicholas Downs Mine and Ant Hill Mine and the Baramine Manganese Project.

Spitfire has defined a JORC compliant manganese resource inventory of 2.94Mt @ 7.07% Mn at the Tally-Ho deposit and in late 2010 discovered a new zone of mineralisation referred to as the “Contact” discovery, for which it has established an Exploration Target1 of 5-10Mt grading 10-15% Mn.

The Company has announced plans for a major drilling program to be undertaken in 2011 comprising more than 10,000m of drilling to test this Exploration Target and to in-fill and extend the Tally-Ho deposit.

The Company’s core objective is to delineate strategic high-grade (+40% Mn) manganese resources which would position Spitfire to capitalise on strong levels of demand for high-grade manganese globally. However, Spitfire also has other strategic minerals assets including:

* an emerging thermal coal portfolio in Tasmania, located close to established infrastructure including rail, roads and port; and
* a nickel-copper and platinum group elements (PGE) exploration project in the Northern Territory.

Mine For

manganese, coal, nickel, copper, platinum group elements

Location of operation(s)

Western Australia, Tasmania, Northern Territory

Address

Suite 1, 346 Barker Road
SUBIACO, WA, AUSTRALIA

Phone

(61 8) 6382 3700

Email

Website

http://www.spitfireresources.com/

Last Updated

4/02/2011