Highlight

1. Results returned for 70 Davis Tube tests carried out on Hancock Range Iron Project diamond drill core

2. Results confirm bench-scale separation of Magnetic Concentrate to generate average composite values between 66% Fe and 68.0% Fe

3. Magnetic Concentrate low in contaminants with grades averaging 5.5% SiO2, 0.1% Al2O3 and 0.02% P

Emerging Pilbara iron-ore producer, Hemisphere Resources Limited announce encouraging preliminary Davis Tube results carried out on diamond core drilled at the Company Hancock Range Iron Project.

Mr Danny Costick Managing Director said the bench scale tests confirm that a magnetic concentrate can be generated from the Hancock Range samples.

He said that “The Davis Tube tests returned a magnetic concentrate with average composite values between 66% Fe and 68% Fe. He added that the results are based on spot testing of 120mm per 10m of core and provides guidance as to the stratigraphic column. A total of 70 test samples were analysed and showed an average mass recovery to magnetic concentrate of 21.9%.”

Mr Danny said “Notably, the magnetic concentrate produced exhibits low contaminant levels, containing 5.5% SiO2, 0.1% Al2O3, and 0.02% P. He said while these tests are a preliminary estimate based on the limited amount of core tested, we are encouraged by the results which are sufficiently positive to warrant further testing.”

Future drilling has a primary target of identifying hematite mineralisation and the samples will also be used to gain additional material for bulk composite Davis Tube testwork to increase the density of data across the tenement on a nominal 1km x 1km grid.