EXPLORATION & DEVELOPMENT

Strike soars on maiden resource

STRIKE Resources’ attempts to cash in on resurgent iron ore prices has paid off in spades this morning with the company’s shares up 75% in early trade as it unveiled the maiden resource for its high-grade Paulsens East iron ore project in Western Australia’s Pilbara province.

Paulsens East.

Paulsens East.

Based on two drilling campaigns for some 3500m, the company has inferred a 9.1 million tonne resource grading 63.4% iron, 5.6% silica and 3.2% alumina. Around 2Mt grading 62% Fe is shallow-lying...

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