Sheffield Resources - Quarterly Activities Report

Sheffield Resources - Quarterly Activities Report

Sheffield Resources (ASX:SFX) has released its quarterly activities report for the period ended March 31 2016, during which it progressed the Bankable Feasibility Study on its 100%-owned Thunderbird Heavy Mineral Sands Project, near Derby in Western Australia. Sheffield finished the quarter with $6.7 million in cash. 


HIGHLIGHTS
Thunderbird Mineral Sands Project

Thunderbird Maiden Ore Reserve totalling 682.7 million tonnes @ 11.3% Heavy Mineral (HM) (Proved and Probable)
Bankable Feasibility Study (BFS) underway with leading engineering group Hatch awarded the project management services contract
BFS scope includes strategy to mine high grade zones early with throughput commencing at 7.5Mtpa and ramping up to 15Mtpa
Continued community engagement and support, with Native Title negotiations and Public Environmental Review in progress
Positive initial metallurgical test work results from the Night Train deposit (located 20km from Thunderbird) indicating potential to produce a premium zircon product

Corporate Activities

Cash position of A$6.7 million as at 31 March 2016
Mr Mark Di Silvio appointed as CFO and Company Secretary during the quarter
Mr Neil Patten-Williams appointed as Marketing Manager subsequent to the end of the March quarter

To view the full report click here.

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