Equinox Resources Trades Higher on Hamersley Iron Ore Resource in the Pilbara

Equinox Resources Ltd (ASX: EQN) is trading 9% higher at $0.365 on very high-volume intra-day.

Equinox holds a global portfolio of assets, with news today flowing from the Hamersley Iron Ore Project.

Hamersley is located in the infrastructure-rich Pilbara region of Western Australia, 30 kilometres south of Fortescue Metals Group Ltd’s (ASX: FMG) Solomon Mining Hub.

Solomon is currently producing 65 to 70 million tonnes at 56.9% iron per annum.

Hamersley resource definition

Equinox has now defined a large-scale, high-grade Direct Shipping Ore (DSO) component of its wider Iron Ore Resource, totalling 108.5 million tonnes at 58% iron.

This is very similar in grade to the Pilbara fines product from the region sold to Asian markets.

The DSO mineralisation starts 20 meters below surface and is likely to be easily mineable given the uniform nature of the deposit with no deleterious material present.

Significant resource upside remains.

Advancing Hamersley

Zac Komur, recently promoted to managing director, commented:

“At Equinox Resources, we’re committed to advancing the Hamersley Iron Ore Project with a clear focus on accelerating its exploration and development.

“Our Phase 1 drilling program for the second half of CY2024 is set to unlock this higher-grade region, further enhancing the resource volume and grade.

“These strategic efforts will pave the way for a comprehensive scoping study.”

Brazil

Equinox is set to increase near-term news flow focused on rare earths in Brazil.

A maiden drilling program has wrapped up at the Rio Negro hard rock rare earth prospect.

Read more here:

Equinox Resources’ Awaits Maiden Drilling Results Near Brazilian Rare Earth’s Pele Discovery

 

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